Docufree, a leading provider of enterprise information management (EIM) and digital business process services, announced the acquisition of DealerDOCX, a leading provider of secure end-to-end, cloud-based document-management solutions for the automotive industry.
Founded in 2014, DealerDOCX is a proven and established intelligent document management company poised to continue its growth in the auto-dealer market as well as adjacent verticals such as auto services. As part of the acquisition, Docufree will also be adding several key patents to our IP portfolio including unique business-intelligence software that is integrated into dealer Enterprise Resource Planning (ERP) systems to create fast, secure, high-quality, and cloud-based document management.
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“With its strong recurring revenue model, blue-chip clients and very low customer churn, the acquisition of DealerDOCX presents Docufree with a multitude of opportunities,” said Brad Jenkins, CEO of Docufree. “This acquisition also expands Docufree’s deep expertise in software engineering and cloud services, along with domain insight into automobile sales and operations. Additionally, there are several innovative technology components that seamlessly complement and integrate with our existing technology suite of offerings—giving us a tremendous growth trajectory involving smart, agile enterprise solutions that result in successful digital transformations.
DealerDOCX’s document-intelligence proprietary cloud solution, delivered via a Software-as-a-Service (SaaS) model, is powered by the company’s patented automated audit-compliance analytics engine – which streamlines compliance engagements by analyzing client-specific documents and leverages artificial intelligence (AI) to generate audit scorecards and document bundles. The platform enables auto dealerships to effectively navigate compliance requirements with sales reps and auditing staff to ensure time-saving and cost-efficient practices without the need for external auditors. This solution helps dealerships avoid costly government or Original Equipment Manufacturer (OEM) incentive-based compliance violation fines and find room for revenue improvement.
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The DealerDOCX platform maintains strong strategic partnerships with dominant industry Dealer Management System (DMS) providers, such as Dealertrack Technologies, CDK Global, and Reynolds & Reynolds, to provide full integration utilizing its predictive-analytics capabilities into their respective dealer systems. DealerDOCX has built a strong base of more than 350 customers across multiple states and markets.
“We look forward to maximizing their technology in our content-enabled vertical applications while empowering channel partners with many new opportunities to grow their digital transformation suite and recurring cloud revenue models,” said David Winkler executive vice president and chief product officer of Docufree. “DealerDOCX is helping dealerships across the country accelerate their digital transformation objectives, by capturing unprotected physical documents, reducing on-site labor and storage expenses, providing easy and secure digital access to deal jackets, repair orders, invoices, and other sensitive files, while assuring compliance. With this acquisition we’re bringing together the power of our content services platform with their specialized automotive expertise to further drive innovation for both existing and future customers.”
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