Reynolds Backs Location Technology Provider TrueSpot

The Reynolds and Reynolds Co. and TrueSpot, a real-time location services company, entered into a partnership through a significant investment by Reynolds, which pursued the partnership to focus on innovative technologies to help auto retailers be more successful.

TrueSpot enables dealerships to increase efficiency across their variable, fixed operations, and reconditioning departments by reducing holding costs, avoiding lost-key expenses, cutting wait time, and enhancing customer service.

“This investment marks a vote of confidence in TrueSpot's innovative and multi-patented AQFind platform," said TrueSpot CEO Mike Hanna. “TrueSpot’s platform enables dealerships to harness the power of real-time tracking and location intelligence to manage their assets, workflows, and operations more efficiently.”

To help dealers make informed decisions about operations, AQFind automatically analyzes geospatial data and location-specific insights to drive workflow transformation. Dealers can access visual representations of the insights through smart maps, dashboards, and reporting.

"We are delighted to collaborate with such a distinguished company like Reynolds," Hanna said. "Its investment and shared vision will undoubtedly expedite our growth, enabling us to fulfill our commitment to deliver the power of location data and intelligence to the retail automotive ecosystem and particularly dealerships."

TrueSpot and Reynolds have already started injecting real-time asset tracking and location intelligence into Reynolds' extensive portfolio of dealer solutions, like KeyTrak. The new functionality will be on full display at the NADA Show Feb. 1 in Las Vegas.

“The transformative potential of location intelligence in retail automotive is significant,” said Reynolds President Chris Walsh. “TrueSpot's innovative approach aligns seamlessly with our goals, and we are enthusiastic about delivering enhanced value to our customers and the broader retail automotive ecosystem."

Originally posted on Auto Dealer Today