Xtime, Inc. Reports Strong Sales And Customer Bookings Growth; Upgrade To Its ServiceCRM Software Product
Xtime, Inc., one of the leading provider of CRM solutions for dealership service operations, recently announced a ten-fold increase in billings and collections in the period December 2005 to December 2006. In the same period, monthly appointments booked went from 40,000 to 120,000 per month and cumulative appointments booked exceeded one million. The company also announced that it now has over 700 customers under contract.
In a separate announcement, the company released version 4.2, a major upgrade to its ServiceCRM solution in January.
"Our rapid growth has been fueled by the adoption of our ServiceCRM product by major dealership groups," said Neal East, chief executive officer of Xtime. "The dramatic business results experienced by these organizations validate the impact of our innovative technology. For instance, many dealerships experience a significant increase in customer-pay dollars per repair order, some by as much as 33 percent."
In the past five years, dealership service operations have experienced increased challenges in several areas. Decreased warranty claims, lower profits on new car sales and customers that demand higher levels of customer service have left dealers scrambling to find new ways to increase revenue.
Even though service departments generally excel at fixing the vehicles they sell, many are discovering competitive weakness in all aspects of their customer interactions, including answering the telephone effectively, coordinating outbound marketing campaigns, accurately managing shop capacity and providing excellent in-store customer service.
Xtime's ServiceCRM software is specifically designed to address the challenges a service department faces in improving all aspects of customer interactions, combining consumer web scheduling, advanced shop control, and sophisticated marketing campaign tools into one complete and unified solution. ServiceCRM also fully integrates with dealer management systems (DMS) from Reynolds and Reynolds Company and ADP. By combining these features into one easy-to-use, affordable system, Xtime gives automotive dealerships the ability to generate, capture, and manage more service appointments per day, driving profitability through increased customer-paid service.
Many dealers are considering use of dedicated service business development center (BDC) to book appointments and conduct outbound marketing campaigns. Xtime's unique ease-of-use and shop control capabilities create an ideal solution for enabling BDC call center agents to intelligently and efficiently fill a service shop without overbooking. One dealer who deployed Xtime software in their service BDC reported an increase in 400 hours per R.O., which represented an increase of $36,000 in monthly revenue.
"We're excited to be partnering with industry-leading dealerships across the country who are defining what it means to deliver great CRM in the service department," said East. "Our growth last year is a testament to the hard work that's gone into our product: four major releases in that twelve month period. And we're not backing off. Our product innovation will continue, and we suspect our business growth will as well."
About Xtime, Inc.
Xtime is the leading provider of CRM solutions for automotive service operations. With over 700 dealerships and over 1,000,000 appointments booked, Xtime's ServiceCRM is designed for maximum performance and value. By merging and automating consumer direct bookings with full service BDC capabilities and sophisticated shop management, dealerships realize significant increases in customer satisfaction while maximizing service drive throughput and profitability. Privately held, Xtime's investors include Draper Fisher Jurvetson, RPM Ventures and Innovacom, the venture capital arm of France Telecom. Xtime is based in San Mateo, Calif. and can be reached at 650-653-4000, or www.xtime.com.
SOURCE: Xtime, Inc.