DALLAS – lanelogic, Inc., an automotive network that electronically trades used vehicles between automotive dealers nationwide, has introduced a new virtual arbitration/communication system. The new tool allows dealers to arbitrate, dispute, and communicate with lanelogic online, and all but eliminates the need for a dealership to call lanelogic.
An arbitration button now automatically appears on the dealer’s portal screen next to every lanelogic in-transit vehicle and remains active for 48 hours after it’s delivered to their lot. With the click of a button, dealers can notify lanelogic of a dispute and file a claim online. It is estimated that most cases will now be resolved in one business day or less.
“We initially underestimated the call volume associated with our model and struggled to be as responsive as we should have been,” said Jim O’Brien, president of lanelogic. “On any given day, we move over 500 vehicles between dealerships. The new online arbitration process makes resolutions much more efficient and reduces the need to call our office.”
Recently, lanelogic reorganized its dealer operations department into five teams to better serve its dealers. Each team is comprised of six hand-selected lanelogic personnel consisting of a team lead, arbitrator, customer service representative, logistics coordinator, inventory consultant, and field operations manager. When calling lanelogic’s office, dealers now speak directly with someone on their dedicated team.
In other news, lanelogic is expanding its proprietary dealer-to-dealer trading network to the country’s Southeast and Northeast regions. Twenty-one states are included in the expansion, with rollout dates scheduled for March.
Its 2007 national expansion is complemented by the company’s successful completion of its pilot in the previously established Midwest and South Central regions. It also recently announced a $10 million equity investment from the Dallas-based hedge funds, HBK Investments L.P. and Cain Capital, L.L.C., and lanelogic CEO Bruce Thompson.
The Southeast region joins the trade network March 12, with the Northeast region following March 26. This will represent an additional more than 300 pre-signed dealerships joining the lanelogic dealer network.