ADI Tests VideoSave F&Eye

NEW YORK, N.Y. (July 17, 2006) — VideoSave, Inc., the leading provider of offsite video storage systems, has joined forces with Scottsdale, Ariz.-based Automotive Dealership Institute to test and implement the company’s new F&Eye Transaction Authentication System. The system was developed for automotive dealers who need a comprehensive audio/video transaction verification system to document the sales process as it relates to dealership finance offices. With legislation pending in many states and dealers facing millions of dollars of potential liability, VideoSave collaborated with the Automotive Dealership Institute in developing the system and installing it in their classrooms. F&Eye System is a benefit to automobile dealerships which need to maintain a secure record of finance and insurance transactions with customers. Making the announcement was Fred Deutsch, president of VideoSave and Alan Algan, CEO/executive director of ADI.

“Video and audio verification is a great tool not only to mitigate disputes with customers that arise in the finance office, but it is a great dealer management and training tool,” said ADI’s Algan. “At our school, we looked at several systems and concepts to assist our students in understanding that when they see cameras in the F&I office, they should not be intimidated, but to view the process as a protection asset. VideoSave is certainly that.”

Fred Deutsch, president of VideoSave commented, “We were very pleased to have worked closely with the Automotive Dealership Institute to develop and launch our system. We looked at many F&I and automotive management schools and quickly discovered that ADI is the Ivy League of automotive training schools in the USA and globally. We are pleased to work with ADI to offer the auto dealership community this valuable service. F&Eye System is part of VideoSave’s extensive program to bring the secure off-site storage of video business records to different industries where it can play a major role in improving customer service, security and productivity.”

F&Eye Transaction Authentication System is an integrated system of cameras, microphones, an onsite VideoSave VideoServer and the VideoSave secure off-site VideoVault. With cameras and microphones installed in the auto dealership finance offices, each F&I transaction is recorded in full and then transmitted over the Internet to VideoSave’s remote and secure VideoVault. The video and audio record is stored for the length of the contract or longer, typically three to five years, and is maintained by VideoSave which acts as a fiduciary for the information in case the terms of any transaction are contested or litigated. Each transaction is time and date stamped and can be coordinated with any dealer management system for easy access and recall. For example, take the following scenario: A customer claims he was told that his lease was for 15,000 miles per year for three years and he’s not paying the mileage fees, when in fact it was written and properly disclosed as a 10,000-mile lease. In such cases of dispute, the video and audio record can be quickly recalled and played back for the customer to resolve any claims and prevent litigation. The F&Eye System also serves as tool for training F&I managers to reinforce disclosure and closing techniques to increase profitability and reduce risk. F&Eye System and the VideoSave technology also eliminate the need for costly onsite digital video recording systems that are susceptible to failure or tampering.

VideoSave ( www.VideoSave.com), located in New York, is the leading developer and provider of off-site video information storage systems. The VideoSave solution records every frame in the video record from standard analog or newer IP cameras and transmits the video record to its secure offsite VideoVault. Subscribers to the VideoSave service can log on to the VideoSave website and monitor the video and audio streams as they are taking place from one or many cameras simultaneously, or they can search the archive for video from any point in the past. VideoSave serves as a business’ third party fiduciary, holding the secure video records in case of litigation or other dispute.

ADI (www.autodealerinstitute.com), located in Scottsdale, Ariz., is a global leader in F&I Management and Service Advisor training. ADI is licensed by the State of Arizona Board for Private Postsecondary Education and approved by the Arizona Department of Education. Among its key strategic alliance partners are Northwood University, the Association of Finance and Insurance Professionals (AFIP) and the Institute for Ethical Behavior. For more information on ADI’s training call (877) 998-7200.