Category: DMS

When a Fear of Change holds you back

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“Time, training, resistance, nightmare, contracts and confusing.” These are some of the first words that come to mind when a dealership considers making a DMS switch. These words are also often at the root of the ultimate decision to forgo the switch.

A fear of change and the potential roadblocks linked to switching technology has locked many dealerships into complacency, with many choosing to stick to their legacy DMS even if it means they are unable to integrate with new tools or keep up with the changing needs of the modern consumer. While concerns of losing finances, employment records or customer data — not to mention the potential for staff resistance — may understandably discourage dealership managers from modernizing their DMS systems, if they are willing to open themselves up to change, a seamless transition is achievable.

To stay competitive in today’s environment, dealerships need to meet consumers on their terms, and that means dramatically upgrading their technology systems. When purchasing a vehicle, consumers are now looking for a connected experience. They want to find a dealership where they can begin the car shopping and buying process online and complete it in-store. Keeping up with the changing needs of the customer is vital. In fact, according to the 2016 Salesforce State of the Connected Customer report, half of consumers report they are likely to change brands if a company doesn’t anticipate their needs.

The comfort that comes with keeping to the status quo, and the time and money that has been invested in training employees on the legacy system, make it easy to stand still. However, in a time where adapting to the changing industry is vital to a dealership’s long-term success, stagnation is no longer viable. With the right planning, open communication, ample and ongoing training, and invested partner in place, a DMS switch can give dealerships the opportunity to propel themselves forward and overall grow their business. It’s time for dealerships to take on fear of change head-on and implement modernized technology that can help tighten operations and increase efficiency across departments.

A version of this article originally appeared in AutoSuccess Magazine here.

About the author:

John Grace is associate vice president, operations, for Dealertrack DMS, Cox Automotive. Grace brings nearly 20 years of high-tech operations and support experience to this position. Grace joined Xtime in 2011 from Tastingroom.com where he was vice president of operations. Prior to Tastingroom.com he spent nearly eight years as a member of the executive staff of the Location Services Division of Autodesk. At Autodesk, he played a critical role in the growth and expansion of the division, delivering middleware and application solutions to wireless telecommunications companies. He was responsible for managing SaaS solutions, customer premises equipment, and customer support for domestic and international customers. Grace has a master’s degree from Purdue University and a bachelor’s degree from the California State University.

Smythe Volvo: Free to Focus on What Matters

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The team at family-owned, family-operated Smythe Volvo takes their culture seriously. Employees, sales people and car buyers are treated with respect, fairness, and trust. It makes sense to start there and let people come in the door with their guard down, ready to do business. They’ve practiced this level of customer service since 1966, greeting return customers by their first name, and providing a relaxed atmosphere to everyone.

Beyond the Buyer
Smythe extends the same level of trust and decency beyond the buyer to their vendors. In the automotive business, this isn’t naïveté. It’s not even simply generous. It’s just how Smythe Volvo practices business. Which is why they were generally surprised to find the attitude of their original DMS provider was anything but reciprocal. When taking calls about service, managing upgrades, or navigating ongoing training, Smythe Volvo’s employees began to feel like a burden so the team at Smythe began to shop around.

“We treat both our guests that come in every day to purchase and buy from us, as well as the people who work for us, as family. And that’s what’s most important and the most wonderful thing about our business.” – Kevin Flanagan, President and CEO

Time is Valuable
When you focus on the wrong things, you waste precious time that could be spent helping the customer. So, for the team at Smythe Volvo, it was finally time to choose a new DMS provider. Although making the move was “scary,” according to Smythe Volvo Vice President Sean Flanagan, it was worth it to find a true technology partner. Once the family at Smythe Volvo had found a partner whose values and goals aligned with their own, they could get back to focusing on what they do best: offering exceptional customer service.

From New-hire to Expert in No Time
One of the biggest benefits for the family at Smythe Volvo was the easy adoption of the DMS technology by the entire staff, most notably with new-hires. When Smythe Volvo’s Office Manager on-boarded a new team member– previously unfamiliar with Dealertrack DMS–she was posting deals on her second day.

It actually costs very little to be a better partner to your customers. When we encounter businesses like Smythe Volvo it inspires us as well. Treating each other like family, offering a kind word, taking a moment to remember a client’s name, making sure your new DMS technology is explained thoroughly, or building a community for continued learning opportunities are some of the ways we aim to remain trusted partners with the team at Smythe Volvo. You can read more about their experience making the switch to a new DMS here.

Data-driven Dealerships: 5 Metrics for Improving Retention

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You’ve heard it before: You can’t manage what you don’t measure. And this is true…mostly. Human Resources, Controllers, and People Ops often struggle to capture meaningful data around high turnover. Employee satisfaction on the job, training expenses per employee, and the unforeseen costs of replacing key team members can go untracked. When it all adds up, the total cost of employee turnover can reach $439,000 per year. What if you could measure the “unmeasurable” canary in the coal mine, so to speak, that indicating a positive work environment?

Measuring ‘People Ops’ can be difficult. What’s the retention rate per department? What’s the cost of training? Answering these questions should not fall to HR professionals alone. The answers paint a picture of the overall health of your dealership—which is important not just to your turnover rate, but your customers as well. When it comes down to it, unhappy employees and an knowledgeable staff lead to poor reviews. Simply put: people impact profits. Here are five metrics you can start evaluating, today, to make sure you’re hiring and retaining top talent:

1.Employee Satisfaction
Your dealership’s Employee Net Promoter Score (eNPS) is a tool that organizations use to track employee loyalty across time. It was originally designed to gauge customer satisfaction, and it works the same way. As you track it over time you’ll set a benchmark and watch your score either dip or rise.

2. Voluntary Turnover
Are you seeing your best sales people move on at a regular rate? Some churn is natural, so use this as an opportunity to conduct professional exit interviews and unlock the root cause of your employee turnover. What did your staff learn during their time onboard? Did they have any suggestions for improvement? Be open and honest—assure them they aren’t jeopardizing a key employment reference—and use their feedback for future team members.

3. Involuntary Turnover
Make sure you track this number separate from base turnover. Plus, you should keep track of any improvement plans or violations reported to management. Is this number increasing every year? How about every quarter? Do you see a troubling trend? Compare these figures year over year.

4. Managers
Do the previous figures align to your managers evenly across the board? Why, or why not? Are you promoting your managers from within with a clear career trajectory? You may not be able to measure how skilled each manager is at conflict resolution or rely on a metric that can predict which manager is better at delivering bad news, but you can (and should) track how often your managers hire and fire your staff, how long their team members stay on board on average, and which managers have the highest rate of complaints.

5. Training Budgets
This should be a no brainer since you’re likely tracking how much money is spent on several key areas. However, you should also pay attention to which types of training you’re paying for, what your staff thinks of the training, and what the adoption rate of these learning tools is. If you’re throwing money into a budgeted item that no one uses, you might as well use that money on something everyone enjoys…like donuts.

Every dealership is unique and has its own story to tell–and your staff is a crucial part of that story. Pay attention to your employees and the five people metrics that signal a warning that your dealership culture–and turnover–might be in trouble. Retention is a better business strategy in both the short- and long-run.

 

7 Tips For a Stronger Dealership Human Resources Team

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Partnering with People Ops at your auto dealership has to happen now. And it’s time to get creative because a strong labor market—with an unprecedented unemployment rate of 3.9%—means the pressure is on you to hire and retain the staff you need to run your dealership. If that worries you, then you’re probably paying attention. You’re probably realizing the your HR strategy needs to align with your business strategy–HR is no longer a silo or department DPOs and GMs can ignore. Now that we have your attention, here are 7 ways to improve your hiring strategy:

1. Filling The Seat Quickly
Don’t make the mistake of hiring the first candidate whose resume uses the correct form of “they’re, their, and there” simply to take the pressure off your overworked sales team. It’s tempting to move through the hiring process quickly, but a bad hire could end up costing your dealership even more in training, turnover, and replacement costs.

2. Making the Decision Solo
Make sure to have any candidate you’re seriously considering meet with several key team members. Get a “gut check” from everyone they’ll be interacting with and don’t make the mistake of putting this very important decision entirely on one person.

3. Failing to Offer a List of Why’s
Every candidate will be asked “why” they want to work with you. But things have changed; remember the 3.9% statistic? Your candidate is evaluating the position as much as you’re evaluating them. What unique benefits does your company offer? What tools and technology will they get to work with? What does your corporate culture look like? Does your dealership offer flexible time off or work schedules that fit with the candidate’s schedule? If you don’t, have you considered why not?

4. Overselling The Job
Make sure you’re honest about the position and everything being offered. If you’re transparent and upfront about your compensation structure now, without over promising unrealistic commission goals, you’re more likely to keep that new hire around longer once they accept the position. Don’t worry, not everyone is looking for an easy job, either. Be honest about what your team does, be proud of what you’ve accomplished, and share what you hope to do in the future. The right candidate will appreciate it.

5. Not Doing Your Homework
Job applicants put a lot of time and effort into building crafted resumes, networking, and fostering great references. If you’re not doing your research and looking into their work history, contacting former colleagues, and doing important background checks, you’re wasting both your time and theirs. Save time, money, and hours of frustration if you build this process into your standard operating procedures now, so you don’t have to worry about it later. Bonus: a little creeping on social media is to be expected on both sides these days. Everything that’s put out in the public sphere is fair game.

6. Taking Too Long
Yes, you should take your time and be thorough, but keep in mind your applicants may have other offers on the table. Don’t be surprised if they’re suddenly unavailable to take your offer if something of better or equal value came along while you kept them waiting. Top talent may also weigh your offer against another if you failed to show up at a scheduled interview time and date. Consider this: many job seekers take time off from current positions to meet with you, at a personal cost. Were you ready and willing to meet them on time?

7. Failing to Develop New Hires
According to a survey of 1,000 dealer professionals, 36% were motivated largely by personal development and career progress. If you onboard a new hire and then fail to train them, develop their skills, or simply leave them alone to figure out the nuances of your dealership’s unique expectations, don’t be surprised when they bail.

If it sounds like hiring and retaining top talent has gotten more difficult, it has. But establishing a long-term relationship with team members who drive sales at your dealership, grow your business, and who remain loyal to your company over time is valuable. Taking the time to find the right people to build that trust is an investment in your dealership’s future. Good luck!

 

Unlock Root Causes of Employee Turnover

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In 2016, the turnover at dealerships in the U.S. was 43%. If you calculate the average number of employees at every dealership, that equals more than 23 team members giving notice in one year alone! That’s a lot of churn. With figures like that, if you don’t think your dealership has a turnover problem, you might want to think again. So what’s the big deal? Take a look at the root causes of employee turnover you may have overlooked:

A Lack of Diversity
There’s a general need for change in the auto sales industry. A quick look at the numbers shows that only 19% of traditional new-car dealership employees are women. And, while dealerships are aiming to bring in more millennials to the workforce, the ability to keep this group around long-term is failing. Broadening your search to be more inclusive, working with more flexible hours, and trying creative compensation structures are a few ways to start the process of change.

Hiring to Fill Niche Technology Needs
If your technology is out-of-date, hard to use, or even just oddly specific, you may be limiting your pool of candidates. Employees are already required to learn and adapt to everyday changes to industry regulations. If you refuse to consider a candidate based on their experience with the technology you currently have (when you know it will likely change), you aren’t planning for the future.

Failing to Compete with the Competition
Demand for qualified employees is growing. This is good news for anyone working in the industry, but it does mean managers and Dealer Principal Owners need to build a solid strategy for attracting top talent. As the market for employees becomes more and more competitive, your staff has the flexibility to move on to competitors who may offer better compensation, more flexible hours, better paid time off policies, or company perks and benefits. A similar story played out in the technology industry in the last ten years, and managers were forced to get creative when it came to attracting talent.

Poor, or Inadequate, Training
No one enjoys feeling lost on the job. Employees today realize that every position they fill is a stepping-stone on a career path that needs to offer skill development and training to promote growth and success in their future. Does your dealership offer e-learning or a career trajectory plan aimed at improving their development? Is there a position in their future available for promotion or advancement? Your employees have plans for their own future—do they include you?

Highly Selective Employees
Dealerships already must compete to overcome a negative reputation. Today’s employees aren’t afraid of hard work, but they’re also more agile and tech-savvy. They know how to network and will use their skills to consider better options, whether a position is in a brand new industry, or not. What does your opportunity offer that they can’t find elsewhere?

It’s not too late to uncover these often overlooked issues to retention. You can develop strong employee relationships and attract quality team players. Discover more ways to attract and retain talent in our new eBook: 8 Ways to Reduce Turnover & Improve Retention: A Dealer Principal’s Guide to Hiring and Retaining Talent.

Does Your Vendor Pass the Technology Top Ten List?

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Choosing a DMS provider is a big process, but the transition itself can be (practically) painless when you select the right fit. Your best bet, according to this on-demand webinar from John Grace Vice President of Fixed Ops and DMS of Cox Automotive, is to choose the right technology vendor. The key is to ensure your vendor passes the following Top Ten Technology Checklist:

#10 – Ease-of-Use: Technology should save time—not create more hassle. Ask yourself (and your vendor), honestly, if the platform, tool, or technology is designed to make your life easier. Does it offer all the functionality I need? Is it easy for everyone on my team to pick up?

#9 – Flexible: Can you use the technology when, and where you need it? Or, is your team required to log into an on-premises server? Do you need multiple instances of the technology to run multiple rooftops? Do the systems “speak” to each other?

#8 – Real-Time Data: Sure, everything updates almost instantly. But, what about your third-party vendors. If you’re using a DMS that doesn’t allow all players to update in real-time, then what is the point?

#7 – Open Integration: You will use an array of solutions to build your network of tools within the dealership. Does everything work with your DMS, or do they require inflammatory (and pointless) fees?

#6 – Flexible Contract Terms: What if your DMS provider no longer fits your needs? Will you be tied to a system that you dislike for a period of months (or years) because you signed a long contract? Or, do you have the freedom to do business your way?

#5 – A Committed Team: How knowledgeable is the team assigned to assist you? Will they help you get the most out of your DMS, or are they salespeople in disguise?

#4 – Solutions-Oriented Structure: Are you limited by the technology, or are you free to interact with it the way your technologists, staff, and key team members prefer?

#3 – Proactive Support: Every DMS provider has a 1-800 number for emergencies. But, what about on-going training, learning initiatives, and summits? What programs do they offer to build a community for you and other users to get the most out of their product?

#2 – Long-Term Fit: Is your provider invested in your dealership’s growth potential and strategy? What about your key business objectives?

#1 – People You Trust: At the end of the day, it’s the team, not the technology, that matters most. Trust your gut and go with someone you trust.

Technology is everywhere in your dealership. You shouldn’t feel like you’re on your own when it comes to implementation or on-going maintenance. Make sure your DMS provider is a good fit with the advice in John Grace’s webinar—available here.

Dealertrack DMS’ Lifetime Learning Portal Answers Industry Need For Customized, Comprehensive Training

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Salt Lake City, Utah, September 7, 2018 – As a lack of ongoing training continues to impact employee retention and overall profitability, dealerships nationwide are hard-pressed to reassess their employee programming strategies. According to a recent Cox Automotive dealership staffing study, only 54 percent of new hires in customer-facing roles said they received enough training to effectively do their jobs. To help dealerships address this enduring training gap, Dealertrack DMS, a Cox Automotive brand, is launching its Lifetime Learning Portal.

With access to a variety of support channels, including event-based trainings, peer-to-peer support and online education, the Lifetime Learning Portal enables dealership personnel to tailor their training regimen to their own learning style.

“Over the past couple of years, Dealertrack DMS has been honing its dealer-centric approach to ensure dealership personnel receive the superior training and education they need to get the most out of their DMS,” said Matt Hurst, Director of Client Services, Dealertrack DMS. “Want training in person? No problem. Prefer peer-to-peer? Click here. The Lifetime Learning Portal meets dealership personnel where they are and hosts content to fit all learning styles.”

In 2017, Dealertrack DMS hosted DMS Edge, its first annual virtual training program, as well as the Dealertrack DMS Controller Conference, its first annual in-person training event. The following year, Dealertrack DMS took it one step further with the launch of DMS 360, the company’s new, peer-to-peer self-service portal where users can easily access support and share best practices across dealerships as well as with Dealertrack DMS team members online. Now, all of these resources, in addition to on-demand webinars, can be accessed in one place online, creating a more seamless learning experience that gives dealership personnel the opportunity to advance their DMS knowledge in a way that works best for them.

“Dealertrack has put a focus on the users who rely on the DMS day in and day out,” said Robert Beaslin, Controller of Mark Miller Auto Group in Salt Lake City, Utah. “From peer-to-peer to webinars and virtual and in-person conferences, the brand’s Lifetime Learning programming has enabled our employees to get significantly more out of the existing DMS software, helping them to become more effective and successful in their roles at the dealership.”

The next installment of Dealertrack DMS’ Lifetime Learning programming will be DMS Edge 2018, its second annual virtual user event series, running September 18 through September 21, 2018. Over the course of four days and 18 virtual sessions, DMS Edge will bring on-demand training and DMS best practices directly to thousands of dealership personnel online.

“DMS Edge gives dealership personnel a chance to get an inside look at the DMS without ever having to leave their desk,” said Randy Kobat, Senior Vice President of Cox Automotive brands vAuto, HomeNet, Rebates & Incentives, and Dealertrack DMS. “Following the first annual DMS Edge series in 2017, which reached 3,500 users, this year’s event promises to take training to the next level to help dealerships maximize the value of the DMS and give them a competitive edge.”

Keynote speakers for the event include Dealertrack’s VP of Operations John Grace, Google Automotive Retail Strategist Tim Mueller and tax expert Greg White.

For dealership personnel unable to attend DMS Edge or for those with other learning preferences, DMS 360, along with additional trainings and webinars are available to users 24/7/365.

For more information about DMS Edge, and to register for the virtual event, please visit here.

About Dealertrack

Dealertrack provides industry-leading software solutions that give dealerships and lenders the confidence to thrive in an ever-changing automotive market. The company’s integrated suite of powerful but easy-to-use products helps dealerships and their lending partners grow by increasing efficiency and improving decision-making. Dealertrack is part of the Cox Automotive family, a company that is transforming the way the world buys, sells and owns cars. Dealertrack—along with its unmatched network of dealership and lending partners—is improving the car buying experience by embracing the technologies that will shape the future of automotive retail. For more information about Dealertrack, visit www.dealertrack.com.

About Cox Automotive

Cox Automotive Inc. makes buying, selling and owning cars easier for everyone, while also enabling mobility services. The global company’s 34,000-plus team members and family of brands, including Autotrader®, Clutch Technologies, Dealer.com®, Dealertrack®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto® and Xtime®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with revenues exceeding $20 billion. www.coxautoinc.com

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Media contact:

Lisa Aloisio

Lisa.aloisio@coxautoinc.com

404.725.0651

 

Frozen with fear: why dealers stay put

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Ever feel stuck? When faced with a tough decision that could improve the dealership greatly, but could also (potentially) be a difficult transition, Dealer Principal Owners (DPOs) can feel frozen.

And so the story goes for many dealerships working through the day-to-day issues of an out-of-date Dealer Management System (DMS). Sure, it’s a struggle now. But, it’s a familiar struggle. So, what are DPOs most afraid of? What could be holding them back? It turns out there are actually five common fears holding most dealerships back from technology transitions:

The (completely real) fear of data loss
Data drives your dealership. Losing it (or open access to it) would be costly. Pulling the lever on a DMS switch with the potential of data loss is a big factor holding many dealerships back.

Lost familiarity
So your current DMS doesn’t work very well. But, at least everyone on the team knows how to use it. The hours spent learning workarounds and memorizing the functionality of your systems was a big investment. Giving that up—even for an easy-to-use DMS that everyone can use—might hold you back.

Flipping the switch
If only it were as easy as turning on a new machine, right? The big installation process of a new DMS is a lot of work to do on your own. If you had to do this without a trusted partner who was with you every step of the way, it would be a nightmare.

Change Management
Your dealership operates with varied integrated systems. And the DMS can feel like the central nervous system keeping everything going. If your DMS suddenly changed, and worse—wasn’t an open platform, ready to integrate with all of your systems—you might be ready to panic.

Culture impacts profit
Your employees’ ability to do their jobs well impacts morale. It impacts the bottom line and the overall culture of your dealership. It would be really scary if your DMS wasn’t easy to use. Today’s workforce demands point-and-click user interfaces with a modern look. If it looks outdated, it probably isn’t operating like a modern DMS either.

Change is scary. But, change is constant in the automotive industry. Dealerships face it every day, successfully. The ones who brave technology transitions and implement new, faster, and more efficient DMS platforms (like the real-life success stories in this guide) know that facing your fears is the best way to conquer them.

Overcome your fears. Get the guide: Overcoming the Fear of Technology Transition

Cloud Optimization, Your DMS, and You

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As technology evolves, so does its language. And one of the newest tech buzz terms “the cloud” can be a little confusing. What is the cloud? How can it help your business? And what exactly does having your dealership’s data in the cloud really mean?

 

What is the cloud?

Essentially, the cloud refers to software or service that runs on the internet and is accessible through a web browser like Safari, Chrome, or Internet Explorer. Some software and services even use their own dedicated apps or programs. Google Drive, Dropbox, and even Netflix are all examples of cloud services. The advantage of the cloud is that you can access a software or service anywhere there’s an internet connection. In the case of Google Drive, you can make changes to a document on the cloud and your colleague can access the same document from a different location to make edits. Remote data storage and faster upgrade capabilities also improve the appeal of the cloud.

 

What does it mean to have your dealership’s data in the cloud?

Extending the logic of the Google Drive example to your dealership, if your dealership’s data is stored on the cloud, you can access it anytime, anywhere you have an internet connection. This means no more on-site servers that limit your data access to your dealership alone. It also means not having to fuss with ongoing maintenance, updates, and costs that come with a local server. With a cloud-based DMS, you can track cash flow, run reports, and monitor dealership functions from home or on the road in real-time, as long as you have an internet connection. Other benefits of having your data on the cloud include lower costs, increased liability, unlimited capacity, and better security.

 

How can the cloud benefit your dealership?

Cloud-based DMS platforms are the new standard for next-generation dealerships. Technology is no longer a luxury in auto sales. It’s a necessity. And the smartest dealerships are future-proofing their businesses with technology that saves time and increases productivity. A cloud-based DMS can improve customer communication, increase efficiency (and profits), and advance the overall perception of your business. Plus, as your dealership continues to hire younger, more tech-savvy workers, a cloud-based DMS ensures that your newest employees will transition to their new responsibilities faster and more efficiently.

 

Is Your Dealership in the Cloud?

As technology (and its language) continues to evolve, dealerships can either keep up with changing times or stay stuck in the past. The cloud is here to stay. It’s the wave of the future in technology. And it’s the new standard for DMS platforms in the auto sales industry.

See how a cloud-based DMS has helped San Tan Ford run all their stores from one DMS. 

 

 

Solving the Mystery of Margin Compression

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Margin compression is a known problem in the auto sales industry. It has been for years. And yet, there’s a mystery surrounding the problem that most dealerships can’t crack. Too often the knee-jerk reaction is to work harder and sell more cars. But as sales go up, profits go down. And the mystery deepens. So, what can be done to reverse the trend? Here are 7 solutions to solving the mystery of margin compression.

 

  1. Fixed Ops

If more customers are walking through your dealership’s doors to buy a new or used car, leverage those relationships to provide service lane work for years to come. Parts and services generate an estimated 13.6% of revenue. That’s better than both new and used vehicle sales.

 

  1. F&I

Your dealership isn’t just about selling cars, it’s also about selling maintenance plans and service agreements. If F&I has become an afterthought at your dealership, remember that for every dollar made through F&I, dealerships keep an estimated 70 to 80 cents.

 

  1. Process Improvements

When margins are slim, it makes sense to slim down in other areas as well. By cutting costs and improving efficiency, you can turn the tides of margin compression and make more money per sale.

 

  1. Holding Costs

The longer a car remains on your lot, the bigger the financial drain on your dealership. And if a car sits there long enough, those profits disappear altogether. By improving the reconditioning process and getting cars to the frontline more quickly, you can sell more cars faster and more efficiently, directly benefiting your margins.

 

  1. Employee Training

Employees have a lot of influence over profit, for better and for worse. With more frequent, more focused employee training, you can instruct your employees in ways that improve the sales process and maximize margins.

 

  1. Digital Retailing

Moving toward digital retail, at least in part, has become a necessity for most dealerships. By moving sales and purchasing activities online, you can align your sales processes with the preferences of modern customers, improve efficiency, and increase profits.

 

  1. New Technology

A modern dealer management system (DMS) reduces waste and streamlines operations. If your dealership is still fumbling with old technology, embrace the move to a more up-to-date system. Implemented correctly, technology can improve everything about a dealership, including its bottom line.

 

By working smarter, not harder, you can solve the mystery of margin compression at your own dealership. To learn more about how to combat margin compression, check out our infographic, 7 Solutions to Margin Compression.