Nowcom Company Profile

Background

Overview

Founded in 1996, Nowcom is a technology company specializing in developing advanced solutions for the automotive and financial sectors. As a member of The Hankey Group, Nowcom leverages its expertise to deliver tailored software solutions, including Dealer Management Systems (DMS), Customer Relationship Management (CRM) systems, dealer websites, online marketing tools, and loan origination and servicing platforms. The company's flagship product, DealerCenter, is a comprehensive, cloud-based DMS designed specifically for independent car dealers. Additionally, Nowcom has developed Carzing.com, an innovative online car shopping platform featuring a fully automated finance decision engine. Beyond technological offerings, Nowcom operates a comprehensive contact center managing services such as customer support, debt collection, and back-office functions.

Mission

Nowcom's mission is to provide innovative technology and business solutions to clients, enabling them to achieve a sustainable competitive advantage within their markets.

Core Values

Integrity: Conducting business inclusively, transparently, and respectfully to build trust among partners, employees, and customers.

Collaboration: Valuing each employee as an essential asset, embracing diversity, teamwork, and fostering a culture of continuous learning and mutual respect.

Execution: Striving to provide industry-leading solutions with agility, passion for quality, and a focus on meeting customer needs.

Key Strategic Focus

Nowcom focuses on delivering end-to-end technology solutions that drive efficiency and profitability in the automotive and financial industries. The company's strategic objectives include:

Dealer Management Systems: Providing web-based DMS platforms like DealerCenter, enabling dealers to manage their operations from a single platform.

Financial Applications: Developing underwriting platforms and tools for automotive finance, including payment collection systems.

Call Center Services: Operating contact centers offering services such as data validation, customer service, and call quality auditing.

Website Development: Designing and building professional websites to enhance clients' online presence and marketing efforts.

Financials and Funding

As of recent estimates, Nowcom generates annual revenues of approximately $47.1 million, with a revenue per employee of $159,500. The company employs around 295 individuals, reflecting a 2% growth in employee count over the past year. Specific details regarding Nowcom's funding history and notable investors are not publicly disclosed.

Technological Platform and Innovation

Proprietary Technologies

DealerCenter: A cloud-based DMS offering features such as inventory management, customer relationship management, and financing application submission tools.

Carzing.com: An online car shopping platform with a fully automated finance decision engine, streamlining the car buying and financing process for consumers.

Scientific Methodologies

Nowcom employs advanced technologies, including AI-powered intelligent document processing platforms, to help businesses make smarter, faster decisions at lower costs. These platforms unlock critical information from documents to streamline data entry, automate decision-making, ensure regulatory compliance, and reduce operational risks.

Leadership Team

Don Hankey: Founder of The Hankey Group.

Bret Hankey: Chairman of The Hankey Group and CEO of Midway Rent Car.

Jay Kamdar: President of Nowcom.

Vimal Nair: Chief Technology Officer.

Matt Mee-Lee: Chief Operating Officer and General Counsel.

Ricky Li: Chief Software Architect.

Jesse Martin: Senior Vice President of Sales.

Vaibhav Deshpande: Senior Vice President of Software Development.

Andrew Gunawan: Vice President of Infrastructure.

Don Borgmeyer: Vice President of Product Development.

Brian Ward: Vice President of Dealer Operations.

Barry Lane: Vice President of Business Development.

David Lee: Vice President of Data Engineering.

Arjun Jobanputra: Vice President of Software Development.

Glen Suares: Assistant Vice President of Software Development.

Rahul Sonthalia: Assistant Vice President of Software Development.

Phani Tammineni: Assistant Vice President of Software Development.

Wayne Wong: Assistant Vice President of Software Development.

Sonal Mandelecha: Assistant Vice President of Software Development.

Alex Resurreccion: Assistant Vice President of Sales.

Kyle Menger: Assistant Vice President of Operations.

Simon Cho: Director of Developer Operations.

Ricky Ma: Director of Software Development.

Aditya Bannaravuri: Director of Project Management.

Florence Aquino: Senior Director of Quality Assurance.

Joanne Oh: Director of Database Development.

Karthik Kumar: Director of Database Development.

Priyanka Deshmukh: Director of Quality Assurance.

Bashar Shaba: Information Security Manager.

Competitor Profile

Market Insights and Dynamics

The automotive and financial technology sectors are experiencing significant growth, driven by increasing demand for digital solutions that enhance operational efficiency and customer engagement. The market is characterized by rapid technological advancements and a competitive landscape with numerous players offering diverse solutions.

Competitor Analysis

Nowcom faces competition from several companies in the tech services industry, including:

HubSpot: A leading provider of inbound marketing, sales, and customer service software.

CDK Global: Offers integrated technology solutions to automotive retailers and manufacturers.

VinSolutions L.L.C.: Provides automotive dealership software for customer relationship management and internet lead management.

Strategic Collaborations and Partnerships

In 2021, Nowcom and Westlake Technology Holdings formed NowLake Technology, LLC, a fintech organization aimed at expanding opportunities in automotive and other fintech spaces. This collaboration has led to investments in companies like TurboPass, SoFi, Carsfast, Affirm, and the development of a medical loan program for Covered Care.

Additionally, NowLake Technology partnered with Carsfast to enable consumers to buy and finance vehicles through SMS chat bots, enhancing the car buying experience by integrating pre-qualification and vehicle search functionalities via SMS technology.

Operational Insights

Nowcom's strategic considerations include leveraging its technological expertise to maintain a competitive edge in the automotive and financial sectors. The company's comprehensive suite of products and services, combined with strategic partnerships, positions it to effectively address market demands and differentiate itself from competitors.

Strategic Opportunities and Future Directions

Looking ahead, Nowcom aims to continue its growth trajectory by expanding its technological offerings and exploring new markets. The company's focus on innovation, strategic collaborations, and commitment to delivering value to clients positions it well to capitalize on emerging opportunities in the fintech and automotive industries.