The software and technology industry is one of the fastest changing and most influential industries affecting businesses of all types across the globe. As new technology becomes available, so does new opportunities. These opportunities are available and can be utilitzed by almost any industry, and in almost any business process including finance and accounting, Sales & Marketing, and product advancements/improvements and innovations.
For providers and administrators in the Automotive F&I industry, many of the technological advancements remain invisible because the advancements that affect the products & services available are oftentimes behind the scenes.
Looking back over the past year and reviewing what was hot for 2010, some of the “hot items” were:
Though this list was compiled from several lists that were suggested software and technology hot topics applicable to businesses in any industry, many of the items on this list have been integrated into the software and products of the corporations that advertise, contribute, and read P&A eMagazine and eNewsletter.
This is evident in the many articles we published not only in the Software and Technology channel, but as expressed in many of the press releases and published news items as well. For example, since the beginning P&A eMagazine in early 2010, hot topics included Administration Systems such as SaaS (Software as a Service) solutions, Web-based solutions such as StoneEagle Group’s Secure Sales Tool (SST), and many other Electronic Processes such as OFAC checks, electronic vehicle service contract rating from within a menu, e-contracting and digital signatures, real-time contract delivery and debiting of accounts, EFT processes and more.
Many of these products and services mentioned, as well as those not mentioned, have come about as a result of new and/or improved web applications, instant & virtual technology, the need for additional portability and improved and reliable security solutions.
Integration was, and continues to be, another largely discussed topic of 2011 which incorporates instant & virtual technology, portability, and security into its capabilities and processes. And let us not forget the Red Flags rule and all of the software and technology that many companies are installing so that they can comply with its rules and regulations.
Many articles such as SaaS or Build: Which Administration Works Best for You (January 2010), Service Drive Opens Door to More VSC Sales (February 2010), Great Product Needs Great Process (April 2010), Relying on Technology Partners to Reach Dealer Goals (May 2010), and The Integrated Industry: Software Fact or Fiction? (June 2010) are all great examples of how providers and administrators in the automotive F&I industry are using and building software and technology that is directly related to these categories to make business more competitive, efficient, and profitable.
When P&A eMagazine began in early 2010 and throughout the year, many of the same items that were “hot” for 2010 are also “hot” for 2011, such as:
And the new one on the block is:
Although, Virtual Cloud Services were a “hot” item for 2010, they are even more so for 2011. Take Box.net for example. This company is a startup company which offers online storage lockers (the same concept as Cloud computing – meaning that it can be called up on any device with an internet connection). In 2010, Box.net closed out the year with five (5) million users, and according to a company representative it’s revenues tripled for last year, and they are anticipating steady growth and to double its workforce within the next 18 months. Now that’s growth!
We are all familiar with Mobile/Web Applications, and the influx of press releases are proof that companies are continuing to create access to products and services via mobile devices. They are here to stay!
Virtual Technology will continue to be an important part of information technology and the internet as it allows for a great deal of work to be accomplished from anywhere – home, airport, or anywhere you may be traveling. Voice recognition technology is a huge part of this and several large companies including Google & Microsoft.
Connectivity (and Portability) will continue to be a hot topic as the need for reliable cell signals and internet accessibility in remote areas is required. This hot topic is evident in the success of the iPad and arrival of many other tablets since it’s success.
And finally, Scalability. Though this is a new term to the group of Hot Topics, its importance is no less significant. Scalability (for those of us who initially look at this from the standpoint of “to scale” or measurements) is the idea that if the software or technology cannot grow with the corporation or with the product or service that it is associated with, it will most likely become obsolete in a short period of time. This is because the time and costs involved in manually improving or “growing” your IT capabilities can grow exponentially. In today’s economy, corporations are looking to maintain or cut costs, not continually add costs (especially ever-growing costs) to their operations.
As providers and administrators in the automotive F&I industry had incorporated “generic” hot topics in their products and services in 2010, they are doing so in 2011. P&A eMagazine recently spoke with several advertisers and contributors in the automotive F&I industry to see what the hot focus for their respective companies are, but that will need to be revealed in next month’s issue.
