TopMark Funding, a premier funding destination for commercial vehicle dealerships and small to midsized fleets, announced Thursday the implementation of additional features to its DealerLinc technology.
Originally rolled out in late 2020, TopMark launched its proprietary platform to better serve its growing dealership client base.
With nearly 12 months of implementation, TopMark says its dealership sales team has used DealerLinc to expedite transactions condensing timelines and fund transactions more quickly. Transactions sourced by TopMark's Dealer Division has expanded rapidly and now accounts for more than 40 percent of its originations. To date, dealers that have started using the platform have seen improved transparency in communication regarding the transactions and speed in funding transactions often shaving off days from a typical funding timeline, the company says.
"TopMark Funding has received an encouraging response from our DealerLinc platform and we're hearing praise on the platform from both our sales team as well as the dealers we service," says Evan Lang, co-founder and managing director, TopMark Funding. "The latest features ensure that we can continue to be better partners for dealers so that they can have more to focus on serving their customers and driving their own sales."
Working closely with TopMark's dealership division sales, the company invested in additional platform development to further enhance the dealers' experience. Some of DealerLinc's new features include:
- Parent Dealership Features: Specifically designed for dealers with multiple dealership locations. This feature set allows dealers to source the right vehicle for every customer despite location and allows parent dealerships the ability to view the status and performance at specific locations or all locations in a single screen view.
- Insurance: Dealers can now remit and view insurance certificates directly in to DealerLinc which helps to automate and speed up transactions by reducing touch points.
- Application Grading: Dealers can now review the quality of an application they remit at a glance and quickly get an idea of what pricing may look like for their client. This helps dealers determine which transactions are likely to get funded and provides direction on pricing, so they can quickly provide a response to their customers on the likelihood of securing an approval.
- User Interface Improvements: TopMark has also worked to improve the general User Interface and usability of the platform making it easier to submit and track transactions all the way through the funding process.
The new DealerLinc features were beta tested with a select group of dealerships to ensure that each feature was optimizing the experience during the approval and funding process. The new features are now available to dealerships nationwide, the company says.