TrueSpot

Plano,  TX 
United States
http://truespot.com
  • Booth: 1325C


Track cars. Track keys. Geo-Validated Recon.

TrueSpot is a new asset location platform providing the industry’s first Real-Time Location Services (RLTS) and geo-validated reconditioning solution. Dealers waste hours of staff time searching for cars and can spend more than $10,000/month on lost keys. RTLS drastically reduces these costs and powers TrueRecon to reduce management by up to 70% - often paying for itself within a month. And, unlike RFID or GPS, our location tags can be easily reused and require no F&I service sales. It's real-time location data, reduced costs, more productivity and higher customer satisfaction.


 Press Releases

  • New Technology Pinpoints Asset Locations, Boosts Customer Service, Productivity and Revenue, Automates Recon Activities Reducing Workload by 70%

      

    • Booth No. #1325C at NADA 2020 Conference in Las Vegas, February 14-17, 2020: live demonstrations of real time inventory mapping solutions, digitized lot management, geo-automated reconditioning and other dealership technologies that streamlines workflows.
    • Industry’s first real time location platform and purpose-built campus network pinpoints exact locations of every car and key in fleet.
    • Easily and cost-effectively customizable to support existing dealer operations, key locker & back office systems.
    • Dramatically reduces reconditioning time – can increases vehicle time to market by 20% or more and decreases recon management by up to 70%.

    PLANO, Texas – November 19, 2019 – TrueSpot, a new Internet of Things (IOT) asset location platform developer will be showcasing the industry’s first real-time mapping and inventory solution for automotive dealers, including a new solution that accelerates the speed of costly, highly dispersed auto reconditioning (recon) processes.

    Founded by a group of IT and Auto Dealer insiders, TrueSpot was created to solve one of today’s biggest challenges for auto dealers – asset and operations management. US retail auto dealers spend more than $325 million per year to replace lost keys and lose another $3 Billion a year in inefficiency and wasted time tracking down assets. This can translate into tens of thousands of dollars of losses for single dealership owners, not to mention fueling an environment and reputation of frustrated, waiting customers, walkaways and lost revenue.

    TrueSpot’s new platform dramatically reduces or eliminates these costs, while adding new capabilities that boost productivity and sales performance.  The solution integrates dealer back-office data to streamline workflows, Lot Management 360 (digitizing the dealership), and their newest product, TrueRecon, geo-automates reconditioning activities, basically putting tedious and time-consuming recon activities on ‘autopilot’. The platform also enables mobile phone access to vehicle features, options, and prices to ensure sales staff are always knowledgeable and fully sales-ready as they walk the lot.

    Auto dealers coordinate multiple phases of servicing to prepare vehicles for sale, often including ten or more tasks across numerous departments and locations – both on and off the lot. These activities are estimated to cost dealerships on average $42 per day, and may include upholstery repairs, tire replacement/alignment, body work, paint, detailing, and more.

    According to TrueSpot CEO Mike Hanna, “Current, antiquated key vault and asset tracking systems show when and where a key is checked out but can’t track where that asset is physically located until it is checked back in. The simple fact is that cars and keys move around dealer lots constantly. They’re checked out for test drives, handed off from salesman to salesman, and between departments as they are reconditioned for resale. When misplaced, these assets easily fall off the radar and drive up operating costs. It’s a significant problem across the industry.”

    The TrueSpot solution is comprised of proprietary wireless locator tags that can be placed inside vehicles and attached to keys and other assets. Combined with a low powered enterprise campus network and applications for Apple and Android wireless devices, dealerships can instantly locate these assets and identify their recon status.

    Unlike competitive asset-tracking technologies, TrueSpot location tags can be easily transferred and recycled to track other assets/vehicles on the lot. This significantly reduces the need for sales reps to pressure customers to pay additional location and SaaS service charges to recuperate dealership costs for more expensive, pre-installed GPS systems. TrueSpot’s technology is pre-embedded with capabilities eliminating the need to subcontract onsite IT support or pass along additional hosted solution services to customers.

    TrueSpot will be providing live demonstrations of this proprietary technology at the NADA 2020 conference in booth #1325C. Founders and executives will be on hand to discuss industry pain points associated with tracking inventory, streamlining workflows and digitizing the dealership.

    The start-up is in process to close a current investment round of $1 million, which would add to the more than $700,000 it’s already raised; and is projecting to acquire 30 to 40 new dealer clients within the next nine months – up from around a dozen currently.

    Additional Resources:

    • NADA Show weblink
    • truespot.com
    • TrueSpot Solution Video Overview
    • Visit TrueSpot on Twitter
    • Product/application photos available

    About TrueSpot:

    Formerly known as MOLOCAR, TrueSpot was founded in 2017 by a collaboration of mobile technology insiders and auto dealership owners and operators to invent a better, more robust dealer asset management and on-lot selling solution. TrueSpot is the industry’s first solution for real-time inventory location data. TrueSpot partners with key technology and industry players such as Microsoft and CDK Global while also being easily compatible with many other dealer technology partners such as Dealertrack Technologies, vAuto, DealerSync and others.

    About NADA 2020:

    Industry leaders, manufacturers, exhibitors and other key players convene each year at the NADA Show to learn the latest tools, tactics and industry trends, see the hottest new automotive products and technologies, and make important connections with one another in the unique atmosphere that only the National Automobile Dealers Association can provide. With more than a century of experience, NADA has worked to represent and further the interests of new-car and -truck dealerships.

    ###

    TrueSpot Executives have limited availability for media briefings on-site at NADA 2020; to schedule, please contact:

    Media Contact: 

    Jay Barta

    Jay Barta Communications

    214-641-8455

    Jay.barta@sbcglobal.net

    • Auto industry’s first Real-Time Location Services (RTLS) platform enables pinpoint asset mapping;
    • Industry’s first geo-validated reconditioning solution delivers real-time recon status
    • NB-IOT OBDII technology extends Lot Management 360 and enhances tracking and usage of loaner cars and rentals
    • TrueSpot founders/executives available at booth 1325C for discussions on inventory tracking, streamlining workflows, digitizing dealerships; essential industry innovation; industry trends; etc.

    LAS VEGAS, Nevada – February 15, 2020 – TrueSpot, a new Internet of Things (IOT) asset location platform developer will be showcasing the automotive industry’s first Real-Time Location Services (RTLS) platform at NADA 2020. A new trio of technologies enable real-time mapping of vehicles, keys and other assets, enhanced digitized reconditioning and simplified service loaner and VIP Demo management with purpose built OBD2.

    Founded by a group of IT and Auto Dealer insiders, TrueSpot was created to solve one of today’s biggest challenges for auto dealers – asset and operations management. US retail auto dealers spend more than $325 million per year to replace lost keys and lose another $3 billion a year in inefficiency and wasted time tracking down assets. This can translate into tens of thousands of dollars of losses for single dealership owners, not to mention fueling an environment and reputation of frustrated, waiting customers, walkaways and lost revenue.

    TrueSpot technology dramatically reduces or eliminates these costs, while adding new capabilities that boost productivity and sales performance. These industry-first technologies integrate dealer back-office data to streamline workflows, Lot Management 360 (digitizing the dealership), and their newest product, TrueRecon, geo-validates reconditioning activities, basically putting tedious and time-consuming recon activities on ‘autopilot.’

    Additionally, new complimentary cellular IOT solutions better manage and track usage of service loaner or rental cars via purpose-built OBDII modules specifically designed to offer anywhere, anytime tracking. TrueSpot’s offers this technology at a fraction of the cost of competing OBDII services, without the burden of an F&I service sales.

    “For us, NADA is all about tech innovation for auto dealers,” said Mike Hanna, CEO and Founder, TrueSpot. “Really, for our industry’s first time, technology is becoming highly specialized, and we intend to be on the forefront of this wave of transformation. Old-school processes of yesterday are becoming obsolete. Moving forward, most consumer transactions will be done online, and consumer convivence and operational efficiency will become the dominate success factors for dealers.”

    TrueSpot’s platform is comprised of proprietary wireless locator tags that can be placed inside vehicles and attached to keys and other assets. Combined with a low powered enterprise campus network and applications for Apple and Android wireless devices, dealerships can instantly locate these assets – to within inches – and identify their recon status. Unlike competitive asset-tracking technologies, TrueSpot location tags can be easily transferred and recycled to track other assets/vehicles on the lot.

    The start-up is in process to close a current investment round of $1 million, which would add to the more than $700,000 it’s already raised.

    Additional Resources:
    NADA Show
    www.truespot.com
    TrueSpot Solution Video Overview
    Visit TrueSpot on Twitter
    Product/application photos available

    About TrueSpot:
    Formerly known as MOLOCAR, TrueSpot was founded in 2017 by a collaboration of mobile technology insiders and auto dealership owners and operators to invent the industry’ first Real Time Location Service, delivering pinpoint locations for vehicles, keys and more. Through the realization of this technology, TrueSpot is transforming the everyday operations of dealers with the industry’s most powerful and insightful lot management and recon management solutions. TrueSpot partners with key technology and industry players such as Microsoft, CDK Global and DealerBuilt while also being easily compatible with many other dealer technology partners such as Dealertrack Technologies, vAuto, DealerSync, HomeNetAuto and many others. For more information about TrueSpot go to https://truespot.com.

    TrueSpot Executives are available on site at NADA 2020 for media briefings; to schedule, please contact:

    Media Contact:
    Jay Barta
    Jay Barta Communications
    214-641-8455
    Jay.barta@sbcglobal.net


 Products

  • Real-Time Location Services and TrueRecon
    RTLS pinpoints the exact location of cars and keys more affordably than RFID or GPS and with no F&I sales burden. Bundle it with TrueRecon and you get a tailored dashboard for instant visibility to car status and an up to 70% reduction in management time....

  • TrueSpot, a new Internet of Things (IOT) asset location platform developer recently announced the commercial launch of the industry’s first Real-Time Location Services (RTLS) inventory management solution for automotive dealers.  

      

    The company was founded by a collaboration of mobile technology insiders and auto dealership owners/operators to solve a chronic industry problem – asset and operations management. While it may not seem obvious, misplaced car keys especially, have become a major pain point and costly problem across the industry. Auto dealers can spend more than $10,000 per month to replace lost vehicle keys, and waste hours of employee time tracking down cars, keys and other assets. This often results in frustrated, waiting customers, walkaways, lost revenue and reduced staff productivity. 

    TrueSpot’s new platform dramatically reduces or eliminates these costs, while adding new capabilities that boost productivity and sales performance, often paying for its implementation within a month. The solution integrates dealer back-office data to streamline workflows, Lot Management 360 (digitizing the dealership), and Geo-Validated Reconditioning. It also enables mobile phone access to features, options, and prices to ensure sales staff are always knowledgeable and fully sales-ready as they walk the lot.

    Unlike competitive asset-tracking technologies, TrueSpot location tags can be easily transferred and recycled to track other assets/vehicles on the lot. This significantly reduces the need for sales reps to pressure customers to pay additional location and SaaS service charges to recuperate dealership costs for more expensive, pre-installed GPS systems.

    TrueSpot’s technology is pre-embedded with capabilities eliminating the need to subcontract onsite IT support or pass along additional hosted solution services to customers. 

    Today’s auto dealers coordinate multiple phases of servicing to prepare each car for sale - repairs and reconditioning (which is sometimes done off site, such as upholstery), detailing, and other staging activities. This has created an environment that is constantly vulnerable for the misplacement of assets – especially car keys.

    According to TrueSpot CEO Mike Hanna, “Current, antiquated key vault systems show when and where a key is checked out but can’t track where that asset is physically located until it is checked back in. Cars and keys move around sales lots constantly. Keys are being checked out for test drives and being handed off from salesman to salesman. They can easily get dropped in a pocket, a desk drawer or file folder and forgotten. It’s a significant problem across the industry.” 

    TrueSpot’s proprietary, patent-pending technology is comprised of wireless locator tags that can be placed inside vehicles and attached to keys and other assets. Combined with a low powered enterprise campus network and applications for Apple and Android wireless devices, dealerships can instantly pinpoint the location of these assets, including keys/cars in service, on test drives and loaner cars - parked on or off the sales lot.

    Visit https://truespot.com for more.


 Additional Info

This company does business in International markets.
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