Autovance Technologies Announces Release of F&I Menu

LETHBRIDGE, Alberta, Feb. 11, 2020 (GLOBE NEWSWIRE) -- Autovance (a Quorum company TSX-V: QIS), a software development company specializing in digital retailing solutions for auto dealers, announced the release of its next generation F&I Menu functionality today.  The menu is immediately available as an option to Autovance’s Desk, an industry leading cloud-based desking system for automotive dealers.

Early adopters of this new technology are enjoying very strong success. A case study is now available on the Autovance website that demonstrates how one dealer increased their new vehicle average retail F&I profits by over 50% in just the first six months of use.

“Over the last two years we have focused on analyzing how the retail automotive industry is shifting and what dealers can do in their F&I department to engage with customers how they want, while still maintaining strong per vehicle gross profits,” says Autovance Vice President, Rick Johnston. “We have already enabled a number of dealerships with the powerful new F&I Menu and the results they have realized are remarkable!”

Autovance invites dealerships to come see its Desk and F&I Menu products at the NADA Show in Las Vegas February 15th – 17th, 2020 (Booth #3292C).

About Autovance
Founded in 2010, Autovance Technologies, Inc. (Autovance), based in Lethbridge, AB, is the leading web-based desking and F&I menu tool for dealers who want to improve their per-vehicle gross profit, increase their lease penetration, and focus on customer satisfaction. Autovance Desk and Menu provides dealers’ customers a clear set of options so they can make an informed buying decision. Dealer groups and dealers representing 29 brands across Canada have chosen Autovance to help manage the negotiation phase of their sales process. Autovance is wholly-owned by Quorum Information Technologies (Quorum) (TSX-V:QIS).  For additional information please go to www.autovance.com.

About Quorum Information Technologies Inc.
Quorum is a North American company focused on developing, marketing, implementing and supporting its portfolio of software and services for automotive dealerships and is traded on the Toronto Venture Exchange (TSX-V) under the symbol QIS.  For additional information please go to http://www.quoruminformationsystems.com/.

Forward-Looking Information
This press release may contain certain forward-looking statements and forward-looking information ("forward-looking information") within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "expect", "may", "will", "project", "should" or similar words suggesting future outcomes. In particular, this press release includes forward-looking information relating to results of operations, plans and objectives, projected costs and business strategy.  Quorum believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon.

Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties some of which are described herein. Such forward-looking information necessarily involves known and unknown risks and uncertainties, which may cause Quorum's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking information.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed this release and neither accepts responsibility for the adequacy or accuracy of this release.

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