RedBumper was founded by Bruce Thompson, former CEO and founder of American Auto Exchange (AAX). Thompson is credited for creating and pioneering the modern day inventory tools that are broadly used in dealerships across the United States. When AAX was acquired by JM Family Solutions in 2005 it was the management tool of choice for 4 out of the top 5 largest dealer groups in the country. Thompson is once again introducing revolutionary tools to the industry with the launch of RedBumper, which offers tools and efficiencies that are far beyond anything available on the market today. The tools are in high demand; RedBumper is currently installing at the rate of 100 dealerships per month.
“Auto dealer inventory management systems have not kept up with the advances in Internet and mobile technology over the last decade. Sure, there are stocking tools with graphs and charts; pricing tools that show us how our competitors are pricing cars on AutoTrader and Cars.com, but where’s the real innovation? In my NADA workshops I’ll reveal the first real mobile inventory management system that is not only intuitive, but also the most powerful on the market. RedBumper’s mobile platform enables auto dealers to capture EVERY imaginable source of inventory, and it’s completely mobile. It’s like taking current inventory management systems and putting them on steroids,” Thompson said.
RedBumper’s new product suite to be unveiled at NADA includes:
SmartLot: SmartLot works in real-time on a Smartphone mobile platform, providing the ultimate in flexibility; an inventory management tool in the palm of the hand. SmartLot is the first inventory analytic tool to blend historical performance with local market data and provides the optimal inventory stocking recommendations. As dealers acquire and liquidate vehicles, the tool seamlessly analyzes the performance of each and compares the dealership’s needs to the hottest current market performers, maintaining a continual pulse on market supply and demand. Recommendations are provided in 3-5 seconds and, unlike other tools, it does not require that users search through charts and graphs. SmartLot is also the only tool that has a built in Service Drive Harvester, a dynamic tool that helps dealers acquire inventory from their own customers on the service drive.
Service Drive Harvester: Built into SmartLot, Service Drive Harvester helps turn the service drive into an auction lane. It Searches through a dealer’s DMS and finds vehicles on the buy list which are in a positive equity position. The service advisor simply scans the VIN and if vehicle is on buy list, the appraisal comes right across.
Consumer Lane: Also built into SmartLot, this tool is perhaps best described as; “a used car superstore in a box”. The dealership simply enters specific used vehicles it needs and Consumer Lane automatically queries from its internet partners. It quickly delivers used vehicles listed for sale by consumers in the past 24 hours. 60-70% of consumers selling a used vehicle are in the market for a replacement, so Consumerlane provides both used car inventory and in market car buyers.
SmartApp: The first mobile app on the market to include both a built in VIN scanner and QR code scanner. This dynamic tool enables dealerships to be at the forefront when consumers are shopping for a vehicle. When the consumer downloads the app, visits any dealer’s lot and scans a vehicle, this data is immediately provided to the dealership that sponsors the app. It enables that dealer to offer to beat any dealer’s price, or make the best bid to the consumer. It also provides the dealer with an insight into the consumer’s shopping habits with data on all vehicles the consumer has scanned, providing powerful information to help in the sales process. The app can also send coupons to specific consumers, offering attractive offers to help incentivize them in the buying process.
RedBumper is a new breed automotive inventory management company created by Bruce Thompson. Thompson is widely credited for pioneering modern day inventory management when he introduced new tools to the industry in 2001 with American Auto Exchange (AAX). RedBumper is a very powerful next generation system offered on a flexible Smartphone-centric platform, with tools that are both innovative and intuitive. Its objective is to streamline auto dealer workload by delivering a system that is simple to use and direct. The company aims to take a new approach, offering fresh and creative tools the industry has never seen while at the same time leveraging proven technology. RedBumper prides itself for delivering ground- breaking tools that give auto dealers a significant competitive edge by being first to market. Creating the most powerful suite of tools on a flex platform allows RedBumper the opportunity to reduce much of the cluster and redundancy prevalent in current market products. It enables auto dealers to turn inventories faster while realizing more profit, month after month.