Tag: DMS

Data and the Disconnected Dealership

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Does your DMS provider enable the free exchange of your dealership’s data?

More and more of your business relies on the accurate exchange of data. As customers shop for cars online, they freely share their information with the dealerships they do business with. This includes sharing personal information like addresses and contact information, as well as more sensitive financial information contained on credit applications. Customers exchange this information for a more convenient and seamless car buying experience, but with the caveat that your dealership will keep it protected. And according to our study, 86% of thriving dealers agree that having accurate and complete customer data is a top priority.

If the technology driving your operations doesn’t deliver the data you need to connect people, cars, and services in a fast, secure, and accurate capacity—you need to take a serious look at the risk you’re facing

Your Right to Your Data

Under the guise of protecting customer privacy, some DMS providers believe that dealerships don’t have the right to share information between their own systems. Simply put, the debate between data security and data access isn’t an either/or scenario. Your dealership doesn’t have to choose one or the other. It can have both. Especially as the industry shifts to incorporate more digital technology (in an effort to enable a more seamless online buying experience for your customers), sharing dealership data between dealership systems is critical to business continuity.

When your DMS provider gives you free and unfettered access to your data, you can work with both customers and vendors to facilitate shared data processing, storage, and analysis, without having to navigate multiple systems just to complete a simple task. It boosts efficiency for you and saves time for your customers during the car buying process. It also allows your dealership to advance into a new age of automotive retail with data that will become increasingly important to your business’ success.

Your Right to Cost Transparency

Now that you know you shouldn’t have to choose between your data and your customers’ security, you should also know that enabling these two compatible dealership components shouldn’t be a financial burden to you. The costs associated with data integration and data security, storage, and analysis should be fully disclosed upfront by your DMS provider and justified by the value they add to you and your customers.

Your dealership’s access to your own data is self-evident. Knowing how much you’re paying for data integration should be self-evident too. Those costs should never limit or financially encumber your business. Your systems should be easy to work with. They should help you avoid the tedium of inputting customer data into multiple systems. And your tech provider should be able to clearly explain each cost with full transparency.

As your dealership continues to incorporate more digital elements and your customers continue to trust their information with you online, make sure that you have a tech provider that can prioritize both sides of the same customer data coin to give you and your customers a better car buying/sales experience.

TO LEARN MORE ABOUT HOW THE RIGHT DMS TECHNOLOGY AND PARTNER CAN HELP YOUR DEALERSHIP EVOLVE TO MEET THE DIGITAL DEMANDS OF TODAY’S CUSTOMERS, GET YOUR COPY OF THE DEALER’S GUIDE FOR MAXIMIZING PROFITABILITY.

 

 

Connected Technology Boosts Dealership Sales

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What happens when the technology that ties everything together—your Dealer Management System—integrates with your CRM? You can expect better data, better deals, and better days ahead.

Dealertrack DMS, backed by the power of Cox Automotive, is designed to fully integrate with a full suite of digital technology solutions, including VinSolutions Connect CRM.

  1. Drive Better, Data-informed Decisions – Deal Sync shares deal info bidirectionally between Connect CRM and Dealertrack DMS in real-time, creating efficiencies that result in higher profit potential.
  2. Reduce Redundant Work – When you integrate your CRM and DMS, you can reduce the number of keystrokes and busy work resulting in fewer data entry errors, mismatched customer info, and extra work for your accounting, sales, and service staff
  3. Connected and Certified – Unlike other DMS platforms, Dealertrack is hassle-free, without hidden fees, so you can continue to work with more than 180 leading Opentrack certified technology providers.
  4. Never Go Alone – With 96% client satisfaction and more than 10 years of dealership exp., a dedicated PM helps you reach (and exceed) profit potential while driving full DMS utilization.
  5. Precise Deals, Fewer Headaches – Eliminate differences in cash and equity allocation and get more accurate deal info direct from the data in your DMS.

When you streamline your dealership technology, you win. Your customers and your staff win, also. In fact, the only thing you miss out on are extra steps, manual workflow, duplicate data, and (likely) extra, hidden fees charged by your vendor.

EXPERIENCE THE UNEXPECTED FROM YOUR DMS
IT’S TIME THE TECHNOLOGY AT THE CENTER OF YOUR DEALERSHIP SERVES AS A CATALYST FOR SUCCESS.
SCHEDULE A DEMO TODAY TO SEE HOW DEALERTRACK DMS CAN MAKE AN IMPACT ON YOUR BUSINESS.

 

Empower Your Accounting Team to Build a Better Dealership

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Dealers are great at finding ways to become more profitable. In 2020 alone, nearly three out of four franchise dealers added at least one digital retailing solution to meet the needs of a public more interested in servicing their car (or buying their next one) online. But they rarely focus on their accounting team. The consensus I hear is that dealers are simply too busy to be bothered, and, well, if it’s not broken don’t mess with it! But if you’re overlooking your accounting team—missing training opportunities or recognizing objections to progress—you’re headed for trouble. Profitability, and profit retention, go hand-in-hand with an empowered and efficient accounting department.

Identify and Overcome Objections

There’s real risk in sitting back and settling for the status quo. It may be easier to focus on the quick wins and avoid disrupting the one team that always checks their task list. And change can feel disruptive, and scary, at first. But it’s worth looking at what may be holding you back.

  • They’re busy. But are they busy doing things that add actual value to your dealership? Or just busy doing busy work?
  • They get the job done just fine. Your competition does it faster, better, and it results in a better customer experience.
  • They push back on new technology. So, what are you doing to help bring in tools, training, and technology that makes their work more fulfilling?

The past eighteen months have put a lot of stress on you and your business. (And you’ve handled it in stride.) Many dealerships have added tools and processes that have improved the way we communicate across dealership departments in ways we didn’t even realize needed improvement. We’re faster at what we do—and better off for it. Now, it’s time to focus on the team that provides critical information and insights to the decision-makers at your business. With the help of your dealership’s accounting tools—specifically your Dealer Management System—your accounting team can do so much more.

Prioritizing Ongoing Training

The vast majority of industry training and education is focused on helping the dealer principal and the general manager. Controllers and accounting teams don’t often get opportunities to attend conferences or get access to new learning and training events. They don’t get to collaborate with their industry peers to see what’s working and what’s not working at other dealerships. True to tradition, they’re usually back at the dealership, dutifully performing their tasks. But given how important a well-run, well-educated accounting office can be to dealership profitability, this has to change.

Sharing knowledge is empowering, both for the sharer and the learner. That’s how accounting teams learn to take on new technologies and figure out new ways to do things, instead of just falling back on the way they’ve always been done. When we pulled together nearly 300 industry experts in one room for a rare Controller Conference, pre-pandemic, we almost didn’t need vendor trainers to help lead the group. The simple fact is, we learn better when we learn together and share what we know. And research from Harvard Business Review supports it. When we take an active role in learning (i.e. get outside our dealership comfort zones and talk with our peers), we internalize concepts better and produce better outcomes.

Simple Steps, Big Payoff

Dealerships that prioritize and invest in staff growth tend to be both more efficient and more profitable than other dealerships. In fact, 74% of top-performing dealerships make sure that their employees are satisfied and well-trained in how to use new technology, according to Cox Automotive research. Consider the following practices when looking for ways to empower your accounting team to learn and grow. Your dealership will be better for it.

  • Go Forth & Learn: Learn about new technology by having your controller and the accounting office leaders attending tradeshows, provider-sponsored events, training seminars, and other industry gatherings. Then invite them to share the information with dealer management to find ways to improve.
  • Unmask the Superheroes: Identify “super users” of your technology and rely on them to teach other team members how to leverage technology to your dealership’s advantage. Hold lunch and learn sessions across rooftops and invite these people to meet and mentor new team members.
  • Virtual Learning: Network online with industry peers, including those from accounting offices at other dealerships, through on-demand training resources like DMS360 and additional summits through your technology provider.

Understanding the ‘Why’ of What We Do

Accounting offices in car dealerships are rarely actually accounting offices. Most often, they are task-management offices, with hard-working, well-intentioned employees who have been taught to complete lists of tasks, without ever really understanding why they’re doing what they’re doing—the actual accounting at the foundation of their busy work.

Among other implications, this lack of big-picture vision can be stifling for dealership growth. When new technologies are introduced—some of which are necessary to future-proof the dealership or to ensure increased efficiency in a competitive industry—the accounting employees are often the first to push back. They push back because they’re stuck inside their list of to-dos.

On the other hand, when controllers and accounting teams have a better understanding of their roles, and how they play an integral part in the dealership’s success on so many different levels, it becomes empowering. Employees see a greater purpose and find the motivation to improve how the entire organization operates, instead of just honing task-management skills.

When accounting employees understand the balance sheet implications and the trickle-down effect of their tasks, they’re more likely to get on board with industry and dealership-level changes. The fear of change takes a backseat to the excitement for new processes and technology that can pave a new way forward. When they begin to see the big-picture and their importance within the master plan, they become more loyal and more connected, which can transform a traditionally “slow to adapt” team into one that embraces progress.

As you seek to empower your accounting team, take time to teach every member, from the controller to the most entry-level position, the “why” behind what they do. It will have a profound impact on your dealership in producing more direct results with more accurate information.

In Closing…

It’s time to adjust your focus to see just how profoundly your accounting team can impact profitability. Empower your team with the educational resources, big-picture perspective, and technologies to ensure that your dealership is operating efficiently and profitably, and you can begin to build a better accounting office and a better dealership.

About the Author | Karli DeVall

Karli DeVall is the CFO at Tim Dahle Nissan and Red Rock Auto Group. Prior to her current role, she spent ten years running an accounting and consulting practice in the retail automotive industry where she specialized in fixing broken accounting offices. She is passionate about the role that controllers and accounting teams play in the business and looks for ways to empower teams to connect and showcase their skills to their community.

Seven Benefits of Streamlined Service Lane Technology

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A streamlined service drive can boost your dealership’s profit potential, make your employees more satisfied with their work, and keep your customers coming back. But redundant data entry and technology systems that don’t connect can have the exact opposite result.

Your Dealer Management System is connected to the data that drives every decision and detail within your business. It helps you determine how well your business is functioning, where to uncover underperforming areas, and shows you how to take action to drive results. So, when your Fixed Operations software, like Xtime, integrates and shares data in both directions with your DMS? Everyone wins!

Dealertrack DMS, backed by the power of Cox Automotive, is designed to fully integrate with a full suite of technology solutions, including Xtime. Here are seven benefits to switching your DMS:

  1. Share Critical Data – The ultimate service experience ends with a happy customer. But it begins with intelligent, connected systems. Together, Dealertrack DMS and Xtime share critical service data between systems that enable an efficient workflow, reduces errors, and drives revenue.
  2. Get Grunt Work Done, Faster – With the ability to edit Repair Orders, writeback parts and labor, and order the parts your customers need in either the DMS or Xtime, your staff can get the job done without having to double-down on the details.
  3. More Opportunity for $$$ – Inventory Stocking Alerts keep your team informed of new revenue opportunities so you can secure high-value vehicles arriving for service.
  4. Reduced Human Error – Manual data entry leads to inaccurate data according to 56% of companies surveyed.
  5. Improved Customer Experience – Speed up customer interactions by reducing the need for rekeying information between Xtime, your DMS, and other systems so you can focus on better customer service.
  6. Build Trust – Even simple tasks become a burden when your DMS isn’t connected to your tools and systems.
  7. Lower Fees – Dealertrack DMS uses Opentrack integration, reducing the cost of your vendor integration fees (by a lot!).

When you streamline your service drive, you win. Your customers and your staff win, also. In fact, the only thing you miss out on are extra steps, manual workflow, duplicate data, and (likely) extra, hidden fees charged by your vendor.

Experience the Unexpected From Your DMS
It’s time the technology at the center of your dealership serves as a catalyst for success.
Schedule a demo today to see how Dealertrack DMS can make an impact on your business.

 

Five Steps for Better Change Management

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Often, when I work with Dealer Principals and Managers looking to improve profit margins and grow their business, I’ll turn their Dealer Management System, first. There are specific reports that can uncover key metrics, such as performance metrics, that in turn can result in higher gross profit. But, sadly, when I return to the dealership to follow up, I’ll find that the staff has already moved on to a new issue or process challenge that is sometimes referred to as “the flavor of the month” issue. That’s normal. Things move quickly in our business. And roadblocks can make solving smaller problems seem overwhelming. Our good intentions get lost in the shuffle. But, in my experience, if you stick to a simple, five-step process to change management, utilizing your DMS to look at clear data and results, those “roadblocks” turn into tiny speedbumps.

Step 1: Identify a Challenge

This may sound simple, but first and foremost, you’ve got to identify what problem you’re trying to solve. And simply saying, “we need to become more profitable,” isn’t a simple challenge. Make sure the problem you want to solve answers the following questions:

  • Is it specific?
  • What are the consequences?
  • What is the impact or gain?
  • How easy/difficult is it to solve?
  • Is this a sustainable or short-term fix?

Start with the data in your DMS—a Labor Profit Analysis report, for example—and look at the numbers. “I have an underperforming service advisor,” is an identifiable challenge.

 

Step 2: Determine the Root Cause

When it comes to mastering change management, we need to look at the contributing factors of the problem rather than focusing on blame. I encourage you to rank these by importance. Is this issue even solvable? Sometimes certain things are not, and that’s OK. Simply understanding if contributing factors can’t be fixed will free your team to focus on the things that can be. However, if, to use the example earlier of an underperforming service advisor, is due to an employee not understanding a policy, then you can fix it. Additional coaching, help from a manager, training, these root causes are solvable.

Step 3: Develop a Strategy

Now that you’ve identified a challenge and determined its root cause, you have the opportunity to form a plan of action. Identify who is responsible and what needs to be done to take the next steps. What resources are at your disposal (or lacking in the first place) in order to correct the issue? Set a timeline and determine how long it might take.

Step 4: Implement the Plan

It’s not enough to just manage a plan. Real leaders need to take ownership and ensure that processes are seen all the way through. Ultimately it’s our responsibility to make sure everyone moves towards positive change. Aligning implementation with goal and strategy means we have to make sure that the rollout fits the timeline and objective. Are we solving the right problem? Do the actions support the original goal? Make sure you’re coaching and driving the performance along the way. Offer positive reinforcement, encouragement, and progress reports.

Step 5: Analyze the Change

You did it! That’s great, but you’re not finished yet. Now it’s time to review, process, and accept feedback from everyone. That feedback should come from everyone—other managers, advisors, customers, etc. Don’t forget to pull that same DMS report (our example used the Labor Profit Analysis) and see how it has changed. Then continue or alter your plans. What else needs to be done or changed? Was it effective?

Strengthening your people should result in a stronger dealership. And a stronger dealership, with a well-supported team, will result in greater profit potential. Your DMS houses incredible information. It allows you to uncover and dissect what’s happening in your dealership. What’s your effective labor rate? How about your hours per RO? Do you know your gross percentage? The DMS helps you understand averages, set benchmarks, determine what’s good or poor. But most importantly, your DMS helps you understand what’s causing all of this. Because we don’t search for results, we search for actions to drive results. Our actions will determine the results we get.

Experience the Unexpected From Your DMS
It’s time the technology at the center of your dealership serves as a catalyst for success.
Schedule a demo today to see how Dealertrack DMS can make an impact on your business.

About the Author | Michael Panozzo

Michael Panozzo is a Dealertrack DMS Performance Manager who works with dealerships to maximize DMS utilization and drive process and profit improvement. Michael came to Cox Automotive in 2016 after a 15-year career working in and managing auto dealerships where he honed his skills in operational excellence.

The High Cost of Poor Integration

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Your customers see your dealership as one, holistic entity. They can service their cars, shop online or in person, and finance purchases through your operation. But, in reality, your dealership is composed of multiple (sometimes siloed) departments, with various tools and technologies, working together to make the magic happen. In some cases, employees get really good at checking off tasks and performing processes that keep the lights on, without seeing the bigger picture. Between your different departments and technologies, it takes teamwork to do the job right. And one weak link has the potential to throw off your entire operation.

High Costs and Higher Risk

According to one study, the average dealership uses almost seven systems to complete a single transaction. That means that data must travel across multiple departments, offers have to be desked, and trust between your client and your business is tested up to seven different times. It also means that you rely on your technology to cooperate seven different times. It’s a tall task and one that you may take for granted. Your DMS is the source of truth for the data within your dealership. And the vendors and OEMs that you partner with rely upon it. They also tend to charge sneaky, hidden fees to access that data, and hide those fees within the costs you pay to work with your chosen vendor. (Want to see how much you’re spending on integration fees? Try our integration fee calculator here.)


The Importance of Integration

As more of your business takes place online, integrating your operations becomes more important than ever. These integrations allow you to track shoppers online and implement a cohesive retail experience across platforms. They streamline interfaces and facilitate the flow of data freely between systems, which reduces human error and costs while increasing profits. As these integrations become increasingly important, you should be able to choose the providers that are best for your dealership, and you should be able to do it affordably.

Having secure, real-time, bidirectional technology integrations enable a seamless online to in-store buying experience for your customers and allow you to work with the providers and technologies you want—those technologies that facilitate a better overall customer experience. This gives you maximum flexibility to give your customers the kind of smooth, seamless car buying experience they want, without any technology hiccups in between.

As your dealership continues to venture into the new age of online to in-store retail, your operations will become even more complex and the need for smart technology integrations will become even more essential. It’s going to take teamwork to succeed, and it’s only fair that you should be able to choose the technologies that are right for your team.

TO LEARN MORE ABOUT HOW THE RIGHT DMS TECHNOLOGY AND PARTNER CAN HELP YOUR DEALERSHIP EVOLVE TO MEET THE DIGITAL DEMANDS OF TODAY’S CUSTOMERS, GET YOUR COPY OF THE DEALER’S GUIDE FOR MAXIMIZING PROFITABILITY.

Connect the Dots with Integrated DMS Technology

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The new age of online automotive sales has arrived. And as you work to bring your dealership up to speed with the digital shopping preferences of today’s customers, it’s important to consider your technology. Specifically, whether your technology facilitates the kind of connected online shopping experience your customers expect. Because, for all your hard work and effort to implement the right processes and drive better innovation, if your technology can’t connect the dots, you’ll come up short.

The Customer is Always Right

Consumer interest in finalizing a deal online has risen 73% in the past year alone, according to a Cox Automotive Report. In addition, 56% of customers want to start negotiating on their terms, preferably online, and 75% want to complete credit and financing paperwork online, according to an Autotrader study. Does your dealership’s DMS technology enable you to cater to these customer preferences and move at least part of the car buying experience online?

“The ability to deliver a superior, personalized experience is now
within reach.” – Lori Whitman, Senior Vice President of Dealer Software, Cox Automotive, The Dealer’s Guide for Maximizing Profitability

The Next Gen Benefits of Connected Technology

As your dealership transitions to incorporate more elements of an online sales experience, put your technology in the proper perspective. Instead of thinking of your DMS as just another expense, think of it as an invaluable asset, enabling you to sell more cars, drive profits, and facilitate the kind of buying experience your customers expect.

Your online customers don’t want to put up with a clunky, disconnected shopping experience. From start to finish, they want a buying experience that weaves every step of the process into one connected whole. The good news is, with integrated technology, it’s entirely possible to optimize efficiency. As Lori Whitman, SVP of Dealer Software at Cox Automotive explains, “The ability to deliver a superior, personalized experience is now within reach.” Technology designed to bypass workarounds and intuitively share information across platforms, from interest to point-of-sale, is changing the way dealership operations function. And your Dealer Management System—the source of truth for data continuity at your dealership—is making it happen by integrating with your other technologies and facilitating an intuitive, customer-focused car selling experience.

Your DMS technology, working together with your other systems, should support an omnichannel sales experience that keeps track of customer information over time and between systems. The best part: this connected technology not only benefits the customer, but it also improves your dealership’s efficiency and profitability.

Move on From Disconnected Tech

If your DMS doesn’t integrate with your other technologies, or requires expensive workarounds that ultimately feel mismatched, out of place, and even conflicting, your technology probably isn’t the right fit for the next generation of digital customers and online sales.

As your dealership moves into the new age of automotive retail, continue to evaluate how your technology can either help or hinder your customers’ specific shopping experiences and your dealership in general.

To learn more about how the right DMS technology and partner can help your dealership evolve to meet the digital demands of today’s customers, get your copy of The Dealer’s Guide for Maximizing Profitability.

 

Top Secrets of Thriving Dealerships

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Mastering the changing market has become one of the most important components of thriving dealerships to date. As new and unexpected challenges arise, the ability to adapt, pivot, and thrive in the face of adversity not only sets your business up for survival—it gives you a serious advantage over the competition. But what (exactly) is it about those dealers who always seem to thrive? While others merely survive, they seem to come out better than before. We heard from a dealership that fits that description in a recent episode of Dealer Advantage, in partnership with CBT News. In the interview, SVP of Dealer Software Solutions for Cox Automotive, Lori Wittman, digs deep to uncover the three key secrets that make Byers Automotive Group successful.

Secret 1: Find a DMS Partner Who Helps with Training

The team at Byers, and especially Linda Crossman, Director of Systems Operations and Training, investing in their staff is a top priority. And it starts from day one. “For new hires, we use Dealertrack DMS and VinSolutions ‘new hire’ training. I make sure everybody gets the information that they need. The videos that are supplied online through Dealertrack are awesome,” notes Crossman. And that’s the secret: Crossman and her team know the value of leveraging their technology provider’s resources and assets when it comes to getting each and every team member on track. And Wittman notes, in a recent post, when it comes to thriving dealerships, training can make, or break, your odds of success. “On its most basic level, this common thriver behavior includes cross-training employees and teaching them how to use new technologies,” Wittman writes. “In fact, according to the “How to Thrive” study, almost half (48%) of thrivers provide opportunities for cross-training while only 27% of static dealerships do the same.”

Secret 2: Use Technology that Delivers the Data

Data continuity—or how well your customer’s information travels across key technologies—helps thriving dealerships operate at a higher level than their peers. As Crossman explains, “The DMS is the nucleus of the whole operation.” As access to data becomes more restricted, and as dealerships become more optimized to deliver online services, data is quickly becoming the currency of successful businesses. According to the “How to Thrive” report, 86% of dealers agree that having accurate and complete data is a priority at their dealership. Crossman explains, “Everything coming in, passing through, moving onto the next phase…it’s important that (the DMS) is able to capture all of that information. The DMS is able to help you make that decision on whether you want to take that extra step with your customer. We depend on it a lot.”

“The DMS is the nucleus of the whole operation.” – Linda Crossman, Director of Systems Operations and Training at Byers Automotive

Secret 3: Embrace Change to Level-up

Dealers are no stranger to change in the automotive industry. Yet, as Crossman shares, change can be a big hurdle for some. “We have some salespeople who have not adapted. The ones who have are watching their peers become very successful.” New technology, tools, and processes are simply a must for thriving dealerships, however. This is why the team at Byers partnered with technology vendors who take on some of the change management workloads for them. “We have what called Performance Managers. So when we want to start a new process or make a decision about handling something new a new challenge, we have a Performance Manager for Dealertrack DMS, Xtime, and VinSolutions that helps us move through that process.” With a minimum of ten years experience, Performance Managers partner with dealers to get more from their technology, master skills training, and set goals and initiatives for the business.

Thriving dealers know: if you’re going to step up and move to the next level, you’ll need the right tools, training, and support in place to set your people up for success along the way. And, you can’t be afraid of change. When it comes to stepping up and moving to the next level, the team at Byers leveraged the support of their vendors while taking the time to listen to their customers. They, and other thriving businesses, have proven that tough times tend to make tough dealers even stronger.

Check out the interview with Byers Automotive below and read more about the Data Behind Thriving Dealerships with Lori Wittman.

Support for the Road Ahead

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The industry-wide move toward offering a hybrid online/in-store car buying experience has been a resounding success. New- and used-vehicle buyers are reporting that the process takes less time and is more efficient than before, and customer satisfaction is at an all-time high. But that doesn’t mean change isn’t still scary.

As with anything new, you’re bound to have questions. Bumps in the road, growing pains, and (just maybe) brief moments of existential dread and panic tend to happen whenever you flip the switch.

We’ve all been there. That’s why having a partner that prioritizes innovative customer support and industry-leading client services is so pivotal. When you’re on the road to something bigger, you shouldn’t have to go there alone.

A Net(work) Benefit to Every Dealer

Automotive sales is a competitive, cutthroat industry, but when it comes to navigating the complexities of technology and transitioning to new sales processes, working together benefits every dealer individually (and the industry as a whole).

Partnering with a DMS provider that brings dealers together through a dedicated platform to freely express their needs and learn together any time of day or night, opens a door to a whole new level of transparency, community, and industry progress.

As your dealership adapts to the changing automotive sales landscape, take advantage of every resource available to you (including those in previously unlikely places) to find new ways to leverage your technology and make online car buying more seamless and profitable.

Learning, Together

Does your DMS provider give you the answers you need to improve your customers’ buying experience? Or, are you on your own to figure it out? Do you dread reaching out via phone call to customer support, when it would be easier to power through and find a workaround on your own?

Having a partner in your corner means knowing your vendor has your back in the event that something goes awry. It also means that your skills and expertise are valuable to your fellow peers. Your business is part of the reason that the entire automotive industry continually improves for buyers. And we’re leveling up, together. This is a major leap forward in automotive retail. It’s one that requires coordination, transparency, and total investment from your technology partners. With a community forum, live case updates, and online training and courses, DMS360 offers dealership staff an online resource that they can personally interact with, contribute to, and incorporate into their learning programs.

Seek out a DMS provider that helps you learn from what other dealers have already gone through. After all, time is money, and a true technology partner can help you leverage every resource available to get your dealership’s new digital processes up in running as quickly as possible.

Learn how next-level support leads to profitability for dealers by downloading The Dealer’s Guide for Maximizing Profitability.

 

Leadership Lessons: Partners Make a Difference

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If you were looking for a quick fix to maintain dealership profitability in the last eighteen months, I hope that you’ll share it. That’s because, in my career of thirty-plus years in retail automotive (most as a GM), I haven’t found the magic bullet. As the Director of Performance Management for Dealertrack DMS, it’s my experience that it takes a specific combination of factors to help our dealer partners become more profitable. It’s not rocket science, per se. And it’s not magic either. It’s more like common sense combined with the human touch. And, when faced with economic uncertainty, it’s the right tools, processes, and partner insights that make the most difference. If you watched our webinar recently, I went into detail—based on key research and learnings from Cox Automotive on this topic. (You can watch it here.)

Technology Tools Improve Process

Better tools do make a difference. As rapid adoption of digital technology in retail automotive takes place across the board, we are seeing massive improvements in customer satisfaction across the board. According to the 2020 Cox Auto Car Buying Journey Study, the vehicle buying process is becoming more efficient and satisfaction levels are increasing. When I looked at the data, I was surprised to learn how much the right tools impacted the buying process for our partners. Those defined as “Heavy Digital” buyers were cutting forty minutes off their time at the dealership. That’s truly significant, especially when you consider that, often, General Managers and Principal Owners view their software (like the Dealer Management System) as more of a utility than a profit driver!

A Partner in Your Corner

Technology tools are changing the way dealers do business. And new processes are being implemented to meet the needs of consumers as they change rapidly. But, the number one request I continue to get year after year from our clients is simply…a go-to person. A person they can call when an entirely new process needs to be rolled out. Or, when a new sales manager comes on board and needs to be introduced to the DMS. As that relationship takes hold, and trust is established, the true value of our team, Performance Management, really begins to shine. That’s because our team of committed professionals—each with a minimum of ten years in upper-level retail automotive management—actively helps you achieve your business objectives. Planning, strategizing, and attaining your quarterly projected goals are their main priorities. They know the DMS inside and out, and they can help you pull targeted data from this single source of data for all of your reporting needs. With that kind of support in your corner, achieving your ambitious goals shouldn’t feel like wishful thinking. It should feel like a must-have.

Maximizing your dealership’s profit potential should be your goal. It’s ours. Watch the full webinar here to learn more.