As the demand for newer, faster, and more profitable F&I menu software grows, new companies are popping up every day to solve the complex problems that today’s automotive buyers present.
Companies such as Darwin, DealerTrack, Zurich, Vision Menu and more, have built dealership software that aims to earn more profit in the F&I department while streamlining the process for a quicker, easier transaction.
Without optimal organization, dealing with all of the tasks that an F&I manager is responsible for can become confusing – and this can decrease the profit of the sale. This is where F&I menu selling software can become one of the best adoptions within the F&I department.
We are typically asked – What is the “best” F&I menu software for your dealership? Well, what is “best” for one dealership may not be “best” for another.
There are various solutions, including standalone options and a range of software suites that integrate with other systems throughout the dealership. In this article, we will take a look at the top F&I menu selling software’s currently on the market.
The Best F&I Menu Selling Software For Auto Dealerships
A significant number of F&I menu selling applications are available for auto dealerships. Simply choosing the first option you find can lead to disappointment, as some tools lack the essential features that a large F&I staff might require.
After extensive research, we narrowed down what we believe to be five of the best F&I menu selling tools and platforms available to automotive dealerships today.
Darwin Automotive is a software development company that focuses on providing a range of different solutions to auto dealerships. The Darwin Automotive F&I Menu Solution is a tool that provides the company’s unique prescriptive selling technology, which focuses on helping the F&I manager increase the value that can be obtained through every deal they close.
The Darwin Automotive F&I Menu Solution focuses on three specific goals.
- An increase in the profit generated with every sale.
- Ensuring presentations and reports can be generated quickly.
- Compliance, ensuring the process, printouts, software and reports comply with industry and government standards.
What makes the Darwin Automotive F&I Menu Solution very unique is that it can work with a variety of selling methods. These powerful tools give the F&I department access to assist in the selling process through spreadsheets, specialized digital software, cloud-based solutions, and even through pen and paper.
The interface of the software is also focused on making it easier for the F&I manager to get tasks done quickly, load client’s information, and generate reports without any unnecessary features getting in their way.
The software also gives the F&I manager access to a range of custom sales tools that make it possible to provide the client with a more personalized presentation. This can greatly increase the chance of a successful sale – and also help the F&I department get more sales for upsells, such as extended warranties.
Finance Manager Training is not affiliated with Darwin in any way.
Next up is the Maximtrak MenuTrak software.
This is an all-in-one solution that can easily integrate throughout the entire auto dealership. The major benefit here is the fact that multiple staff members involved in the processing of a deal would be able to update a client’s profile – and ensure other staff members, including those in the F&I department, have live access to these changes.
The main process of the Maximtrak MenuTrak software is to simplify the sales process that the F&I department has to implement.
The menu selling system can be easily customized in order to utilize templates – this makes it much easier to set up customized deals for each client, while still adding that personal touch that is needed to increase the rate of successful sales.
The software also provides a centralized platform where a variety of tools can be accessed. Products can be easily added to this platform, which is stored in a database that can be easily accessed when the F&I manager is busy closing a deal with the customer.
The primary tools that come with the Maximtrak MenuTrak software suite include the ComplianceTrak software, as well as the CreditTrak system. Both of these are incredibly useful to help analyze the credit profile of the customer and provide them with a personalized presentation that suits both what they qualify for and their own unique preferences.
Finance Manager Training is not affiliated with Maxim in any way.
The next option on our list of the top F&I menu selling software for auto dealerships in the CDK MenuVantage Platinum platform.
This software has a strong focus on getting the F&I department to increase profit. Significant emphasis is placed on the utilization of personalized upsells that can be presented to the client.
The CDK MenuVantage Platinum is a premium software suite that uses the latest in artificial intelligence technology to provide predictive analytics. This technology works in the background and will learn how deals are processed and consider what type of upsells would be most suitable to each client’s profile that is loaded onto the system.
In turn, this gives the F&I team the ability to gain insight into personalized product recommendations that the client will be more willing to sign up for.
The aim of the software is to help boost the productivity of the entire F&I team, by making it easier to match client profiles to the right products automatically. Analytics are also provided instantly through the built-in tools that come with the platform. The analytic tools give sales individuals a chance to see what type of products work best and also assist in the prediction of future profits.
The platform is also available directly on the internet, which means setting up personalized presentations to clients can be done on a computer or tablet – and the F&I manager does not necessarily have to be at the office to set up a sales pitch for the client.
Finance Manager Training is not affiliated with CDK in any way.
Dealertrack is a company founded on the principles of helping dealerships increase their revenue, while also streamlining the process of closing deals.
For those auto dealerships looking to make the process of the F&I department simpler, the Dealertrack UniFI system is a good option to consider.
The Dealertrack UniFI system is incredibly simple to use, yet provides advanced technology that surpasses many of the competitor F&I menu selling software currently available on the market.
The tools that come integrated into this platform can help the F&I team streamline a large number of processes that would usually be time-consuming. Contracts can be easily generated, and customers can even provide a digital signature. Reports can also be generated in real-time, with an accurate overview of exactly what the client needs to expect if they decide to sign the contract.
The Dealertrack UniFI system also makes it easy to provide customers with personalized recommendations on products that they can utilize.
These not only benefit the client but also help to provide increased revenue for the F&I Department.
Finance Manager Training is not affiliated with DealerTrack in any way.
Another option on our list of F&I menu software is the Quantech Q-Menus Online platform.
This cloud-based platform offers always-on technology that makes it easy for F&I managers to access their sales dashboard from anywhere – even when they are not at the office.
The software has been designed with a primary focus on automotive dealerships, but its modules also extend to ensure functionality that will fit marine dealerships and power sports dealerships.
The idea behind the software is to maximize the revenue generated through each sale that goes through the F&I department.
The Quantech Q-Menus Online tool is a standalone software that can also be obtained as part of the complete Quantech Software suite.
One of the primary features offered by the Quantech Q-Menus Online system is the accuracy and, of course, the speed of processing a presentation that can be provided to the client. The software claims to generate a professional report in as little as 60 seconds.
Fields that need to be filled in order to generate a report include the client’s name, the products that they are interested in, the terms and, of course, the current interest rate on their credit application. Any unsecured payment amount will also need to be filled. Once the data has been provided, a report can instantly be generated.
A great feature of Quantech Q-Menus Online platform is that it can connect and integrate with a large number of existing Dealer Management Systems that the company might already be using.
Finance Manager Training is not affiliated with Quantech in any way.
With the right software implemented, an F&I Department can operate efficiently and profitably. While a large number of platforms do offer F&I menu selling capabilities, they are not all equal in terms of features. Understanding the difference between these tools is critical to ensure the F&I department can gain access to the software that will make their jobs easier, while also helping to increase the value of every sale. We shared five of the top software suites that auto dealerships should consider implementing into their F&I department.