iVendi is revising its product range in early 2020 to meet the online needs of vehicle buyers, retailers and finance providers.

New and existing products will be organised into three product groups, engage, convert and transact.

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This will provide omnichannel vehicle retailing solutions for major international organisations and single site retailers.

Chief executive James Tew said: “As a company, we have just celebrated our 10th birthday and we took the opportunity to take a look at what we do from the ground up. The fact is that we have seen massive change in online motor retail over that decade and we expect the next few years to bring more of the same.

“Consumers are going to demand more and better digital tools that provide them with the comprehensive vehicle buying experience they desire. The retailers that meet those needs are the ones that will prosper in the early 2020s – whether they operate primarily online, in the showroom or balance both approaches,” he added.

Tew also said iVendi is bringing their product range in line with how they see the market developing and progressing.

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He continued: “What we are doing is bringing our product range into line with how we see the market developing. Simply, we have divided our technology into three areas – engage more consumers, convert more buyers and transact with greater flexibility – under the banner of iVendi 2020 Vision.

“For us, this summarises the key elements of the online motor retail journey. Whether you are a site selling 15 cars a month or, as we have just completed for BDK in Germany, a major national finance provider creating an online marketplace for thousands of dealers, the principles remain fundamentally the same.”

The launch of the new range will include several new product releases over the next few weeks and months.

Tew said: “A couple of years ago, we began to massively increase our software development resource and this gave us the capacity to start working on a number of ideas – both evolutionary and revolutionary – that we believe will have a definite impact on the market.”

“We’ll be releasing details of these very soon and we are sure that this moment will serve to cement our position as the effective market leader in online motor retail,” he concluded.