TROY — Open Dealer Exchange’s Provider Exchange Network (PEN) announced its agreement with MaximTrak Technologies to integrate with the company’s independent F&I Menu & Reporting system, MaximTrak. This integration will allow Maxim to offer its dealer network electronic rating capabilities, forms and contract origination via PEN.

“We’re excited to partner with another industry leader as we continue to build the strength of our network by integrating with the MaximTrak menu system,” said Mark Virag, PEN managing director. “Our expertise is offering electronic contracting solutions that eliminate errors and streamline the process, resulting in more efficiency and accuracy for all involved.”

The Provider Exchange Network is an electronic data exchange that integrates the F&I product provider with the dealer’s point-of-sale system, whether through a menu or directly with the dealership management system (DMS). This eliminates the need for separate applications to enable e-contracting for aftermarket products. Functions include electronic ratings, forms preparation and contract origination.

“Teaming up with Provider Exchange Network provides us an excellent opportunity to better serve our dealership clients. The partnership with PEN expands the breadth of MaximTrak’s electronic rating and contracting services and enhances the F&I process through PEN’s varied e-solutions,” said Jim Maxim, MaximTrak Technologies president. “Because of this partnership and the benefits the technology offers, dealers will be able to deliver a more consistent F&I margin on every vehicle sold.”