Dealerspan, a leading software development company announces the release of Red Flag Complete version 2.1
BILLINGS , MT. -- Dealerspan, a leading software development company, today announces the release of Red Flag Complete version 2.1. The new enhancements, to this turnkey compliance tool, will make it even easier for us to assist dealerships in becoming compliant with the Red Flags Rule. To start, we have given the dealership the ability to set up users and policies for one or multiple rooftops from one central location and they can view and complete all follow up with a click of a button. We also made modifications to make reports easier to search and view.
We understand that this is an obligation but does not add to the bottom line of a dealership even though noncompliance can definitely hurt it, so we have worked diligently to cut the time spent working on compliance obligations so that the salespeople can return to what they do best, selling cars.
The FTC's Red Flags Rule requires every U.S. auto dealer to develop, implement, and maintain a written, comprehensive identity (ID) theft prevention program that specifically outlines the dealership's plan to detect, prevent and mitigate identity theft. This Red Flag regulation applies to every auto dealer - regardless of size - and must be in place by May 1st 2009.
Dealerspan's Red Flag Complete was created by a team of professionals with over 30 years of dealership experience. Matt Hall, Director of Sales & Marketing and huge contributor in sharing of his expertise in the dealership, has been spearheading the effort to "simplify what dealerships do, through technology." He notes this software comes from the unique perspective obtained by sitting in every chair in the dealership. And it is addressing some of the toughest aspects of compliance:
· Automating training of F&I and sales staff
· Improving dealership knowledge base with informative data to assist the staff in detecting Red Flags in their dealership.
· Automating the process of developing the required Identity Theft Prevention Program.
Customers have come to see it as a value-added service. Matt also notes, "Our greatest fear as consumers is for someone to get our personal information. It's essential for dealers to have business systems, protocols, and procedures in place – like doing business online with a trusted name like Dealerspan." He noted that it is common practice to have your lot secured every night to deter vehicle theft; why not take the same diligence in knowing your customer and deterring identity theft?
The goal is to prevent identity theft from occurring, as well as protect the dealerships bottom-line. For example:
· Identity theft claims go up, meaning Property and Causality insurance costs go up
· If several claims are logged, dealerships run the risk of losing their insurance.
What this means is that you can't afford not to comply with the Red Flags Rule. Putting off this important Federally Mandated Regulation is like playing Russian Rolette with a six shooter with 5 bullets in it. That is not very good odds.
Red Flag Complete is a full compliance package, including risk assessment and analysis, policy generation and acceptance, incident tracking, employee video training and testing, and more. The Red Flag Complete plan gets businesses up to speed with federal regulations and assists in providing a safe level of operation when dealing with customer information. Implementation of the product, including training of staff, takes three to six weeks. Red Flag Complete was developed with the assistance of Hudson Cook, LLP, so Dealerspan has benefited from the expertise of Michael Benoit, a nationally recognized speaker and author of compliance issues for financial institutions and the automotive world.
About Dealerspan (www.dealerspan.com)
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