FirstLook: The Next Generation of Inventory Management: Coming Soon

Dealers now have an inventory management system built around how they work

CHICAGO – March 30, 2012 –FirstLook Systems unveiled its much anticipated FirstLook 3.0 at NADA in Las Vegas back in February. This latest version empowers users with cutting edge capabilities based on market research of best-in-class dealership practices.

Among the most notable aspects of FirstLook 3.0 is the PING III pricing tool with Unit Pricing Power, which expands upon current pricing capabilities. Essentially, the tool enables dealers to identify the specific units that can command above market prices from consumers leading to higher gross profits. This feature is a first in the inventory-management market, and will allow dealers to drive more traffic, with stronger gross profits.

“Two cars could be identical—same make, model and year—but one could command a much higher price based on a specific factor,” says David Nelson, General Manager of FirstLook. “FirstLook 3.0 may tell the dealer that he can price the more desirable car at 110 percent market value, for example, and still sell it in the ideal amount of time. This key feature can do wonders for gross-profit potential—and no other IMS has it.”

New appraisal tools will also help dealers find greater success. Providing a more unified view of information, it shows book and market data all on one page with simple navigation.

“Customers who have seen the appraisal dashboard love it because it ‘thinks’ like they do—matching their workflow with all of the elements for a successful appraisal process,” says Nelson. “Plus, dealers get mobile appraisal tools on their smart phones for easy, on-lot access.”

In addition to providing the information necessary for an informed appraisal,

FirstLook 3.0 automatically creates professional, customer-friendly appraisal documentation to better sell the offer to the customer.

 FirstLook 3.0 also has an answer to the high demand for—and subsequent shortage of—quality pre-owned inventory. The FirstLook 3.0 Offer Center tool helps dealers acquire used vehicles through non-traditional, consumer-direct channels—often for less than they would at an auction. The Customer Offer Center features consumer-friendly offer forms, email marketing templates and other tools to allow dealers to quickly and easily approach customers with offers.

“The offer center helps dealers turn their service lane into an auction lane—with themselves as the sole bidder,” says Nelson. “In addition to using their service department to get leads on pre-owned inventory, dealers can also use the improved FirstLook Search Engine to search all consumer listings in a given area, then use the Customer Offer Center tools to put together a formal offer.”

The Inventory Planning and Performance Management and Stocking tools within FirstLook are as strong as ever, bolstered by system-wide enhancements.

For more information on FirstLook 3.0 visit www.firstlooksystems.com.

 

About FirstLook Systems

FirstLook Systems is the industry’s most intelligent inventory management system. Powered by 360° Market Intelligence™, it empowers dealers with an inside look at their market—giving them an edge on the competition and insight on the customer. This comprehensive IMS suite offers appraisal, pricing, stocking and inventory planning and performance features. FirstLook Systems was founded by Pat Ryan Jr. and the sister division of MAX Systems.

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