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2/16/2010 - Open Dealer Exchange Acquires Provider Exchange Network

DEARBORN, MICHIGAN – Open Dealer Exchange, LLC has acquired the Provider Exchange Network (PEN) from MenuVantage, LLC. This popular network service enables F&I product providers to transmit rates and receive contract information from any participating dealer system. The service is currently in use by 60 leading providers of finance and insurance products such as service contracts, extended warranties, insurance, and wheel and tire protection. PEN streamlines the F&I process by enabling integration between the provider and the dealer’s point-of-sale (POS) system.

Mark Virag, former CTO of MenuVantage, is now Managing Director of PEN for ODE. “This is a unique industry opportunity to complete our vision of electronic contracting,” he said. “With the new ownership, we can deliver rating and contracts to every dealer in North America.” Open Dealer Exchange is committed to integrating PEN functionality into ADP Drive and Reynolds ERA and POWER systems and any other dealer management system, in addition to continuing support for MenuVantage.

Benefits to F&I providers include: accurate rating with real-time updates, online forms distribution, online contract origination, and electronic signature. PEN is currently handling thousands of transactions per day through MenuVantage, and Open Dealer Exchange anticipates a rapid increase in volume due to the additional POS participants.

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Archived Stories


7/10/2010 - Open Dealer Exchange and Teledata Communications, Inc. (TCI) Announce Agreement for Integration

6/23/2010 - BMW Group Financial Services Partners with Open Dealer Exchange to Create Industry-First for eContracting within its Dealerships

6/2/2010 - Automotive Credit Corporation Announces Agreement with Open Dealer Exchange for Credit Application Integration

2/16/2010 - Open Dealer Exchange Acquires Provider Exchange Network

6/10/2009 - Open Dealer Exchange selects Silanis as its e-contracting solutions partner

1/21/2009 - Announcing the Launch of Open Dealer Exchange, a new company created to improve the vehicle financing process for finance sources, dealers and consumers
Open Dealer Exchange


About Open Dealer Exchange, LLC
Open Dealer Exchange enables providers and finance sources to embed their offerings into point-of-sale (POS) systems used by automotive dealers to conduct business both in the showroom and the business office. A joint venture between Automatic Data Processing, Inc. (ADP) and The Reynolds and Reynolds Company, Open Dealer Exchange exists to improve the overall F&I process within automotive retailers throughout the United States and Canada.