Tag: technology

4 Reasons Your Dealership Should Be Digital Contracting

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We all know that digital contracting is the wave of the future and that its big-picture benefits include speeding up funding, increasing accuracy and compliance, and virtually eliminating re-contracting. But how about the everyday improvements you’ll enjoy when you use less paper in your contract process?

1. No one’s ever gotten a paper cut from an iPad

Let’s face it: paper is a hassle for you and your customers. You have to make sure you have every document with the copies collated in the right order. Do it correctly and all your hard work will be greeted by heavy sighs when your customers see a giant stack of paperwork in front of them when all they want to do is drive off in their new vehicle.

If there’s a mistake, all that effort goes to waste and you have to print even more copies and start over from scratch.
Digital contracting has the advantage of being mobile, so you can use a tablet to get signatures anywhere in the dealership. And it puts all of your documents in one place with no need for hard copies.

2. ‘PC Load Letter’? What does that even mean?

Then there are the printers. They’re fine when they’re working properly, but it never takes long before you have to clear a paper jam or try to troubleshoot the connection from your computer. Sometimes you can handle it yourself, but other times it takes an expensive repair call and frustrating downtime before you can start printing again. Even routine replacement of an ink or toner cartridge can turn into a messy ordeal – and those supplies are costly.

With digital contracting, your battle with the printer comes to an end. You gather electronic signatures and all contract documents are securely sent to the lender online – no paper needed.

3. Wide open spaces

How much square footage at your dealership is taken up by filing cabinets? It may be a while before digital contracting completely replaces paper, but imagine how great it will be to reclaim that space for other uses!

Paper files are bulky and retrieving old files can be a challenge. Digital contract data can be stored in a single “virtual” deal jacket in a way that’s highly secure but easily accessible when needed. Plus, electronic transactions are encrypted and more secure than sending paper in the mail, so customer data is protected throughout the process.

4. Stay right where you are!

Being steered to a desk to tackle a stack of paper contracts puts a dent in any customer’s excitement about their purchase. With new remote signing technology, you can bring them a tablet to review and sign their contract from the comfort of the showroom or even the driver’s seat of their soon-to-be new vehicle. A car buyer can even use their own device to read over the contracts and sign from home.

With the ability to upload stips and deal documents, add signature and date fields to create eSignable forms, and set up a secure connection to a mobile device, you can create a single signing session for your customers no matter where they are.

The future is now
Digital contracting offers a better connection with lenders, less paperwork, a more flexible customer experience, and faster funding. The best time to get started is now!

Learn more about how your dealership can start benefiting from digital contracting today.

How eContracting Reduces Data Re-Entry

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You’ve probably heard that going digital with your contract process helps increase accuracy and improve efficiency. So, how exactly does it do that?

The key is integration between dealership systems.

Technology + connection

Research shows that the average dealership uses six or more technology systems in their workflow. If your back office staff has to re-enter data from other systems to complete each eContract – switching back and forth between screens and re-typing customer and deal information – several things could happen:

  • A customer’s name, address or date of birth could be re-keyed incorrectly.
  • The process would take longer than if the information flowed from one system to the next.
  • Errors can lead to re-contracting and subsequent delay in funding.
  • You’d be adding to your customers’ wait time and their frustration.

Integrated technology systems allow customer and deal information to flow more smoothly from lead to contract with less duplicate data entry. That means more accuracy and efficiency for your dealership and a better experience for customers.

A seamless upload

It’s important to find a partner that can provide dealer-level mapping from your DMS. Because each dealership is unique and each lender has different requirements, you want to be able to import data in a way that’s tailored to your specific needs.

With the right data mapping in place, your dealership will gain credit application and F&I process efficiencies in addition to eContracting workflow improvements.

Ideally, you want to choose an eContracting solution that also supports the aftermarket portion of the transaction. That way, you can digitally submit the contract for the entire deal, including F&I products.

Fast deal finalization

Minimizing data entry at the contract stage helps you finalize the deal more quickly. That added efficiency is good for customer satisfaction and it helps make your team more productive, which frees up time for them to help more customers.

Sign and tap eSigning

Simplify the signing process and never miss a signature. eSigning gives you and your customers flexible and convenient signing options in-store or remotely, and ensures that each document has been signed before you can move to the next. That helps eliminate one of the most common contracting errors that can lead to re-contracting.

Click to learn more about DMS integrations for Digital Contracting with Dealertrack uniFI.

Less Paperwork Equals More Customer Satisfaction

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We live in a world where purchase transactions keep getting faster and more convenient. Consumers are accustomed to ordering coffee with an app and having it waiting when they arrive, getting next-day or even same-day delivery from Amazon Prime, and pulling up to Target or Walmart to have merchandise they ordered loaded directly into their cars.

When these same consumers visit a dealership, they fully expect to discover a technology-enabled sales process that will be an improvement over what they experienced with previous purchases. The good news is that dealers are responding to this expectation, with 69% of franchise dealers adding at least one digital step due to COVID-19 according to the Cox Automotive Digitization of Online Retail Study.

How does that help? The same research uncovered that the number one benefit for car buyers of a digital process is saving time. The average amount of time a customer spends at the dealership has been dropping steadily and they would prefer to spend their time on enjoyable activities like test drives. However, the 2020 Cox Automotive Car Buyer Journey study found that nearly half of their time is spent on negotiations and paperwork, the part of the process they dislike the most.

Despite 92% of car buyers researching their vehicle purchase online, many dealerships still do not offer customers the option to sign their paperwork digitally. So even when a customer has researched and started much of their deal online, most still face an outdated paper and wet signing process before they can take delivery of their vehicle.

The pile of paperwork comes out near the end of their purchase process, which risks lowering CSI scores when the lengthy contract review and signing process takes the customer’s positive car buying experience and adds frustration.

One of the drawbacks of the paperwork stage is that it’s where any inefficiencies in the process start to snowball. If a dealership has unconnected systems that force re-entry of customer data, it’s way too easy to introduce errors and create a contract that the lender may not be able to process on first submission. If that happens, it can delay the transaction and inconvenience the customer even further.

Using a combination of desktop and mobile technology to take paper out of the sales process can make a significant difference to the customer experience. Just starting with digital review and signing of contracts can make a significant difference in the customer expereince. eContracting helps eliminate those intimidating stacks of contracts and replace them with convenient review and sign-and-tap functionality. Additional digital solutions including mobile data collection and menu technology to present aftermarket products can provide a more customer-friendly approach overall.

The digital deal addresses many of the frustrations car buyers have with the car buying process. And it’s better for dealerships as well. In fact, 77% of franchise dealers that have enabled digital contract review and signing are more satisfied with their overall digital retailing experience.

Find out more about how Digital Contracting with Dealertrack uniFI is a customer-friendly and dealership-friendly solution.

Best Practices for Remote Signing

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Dealerships have made impressive strides in responding to the restrictions imposed by CDC guidelines and social distancing rules by adopting tools that allow them to work with customers remotely. One vital part of that process is remote contract review and signing.

With a growing percentage of deals starting online, remote signing followed by at-home delivery are logical next steps to ensure convenient and socially distanced auto purchases for consumers.

Here are some important considerations for successful remote signing:

  • Make sure your internet connection is secure – An important aspect of compliance is protecting customer and deal data. Especially if you’re working somewhere other than the dealership, be sure your wi-fi signal is password protected.
  • Begin with some show-and-tell – Start by having a conversation with the buyer to make sure they have access to the proper technology required for the contract review and signing: a desktop computer, laptop or tablet with an up-to-date browser that’s connected to the internet. Then explain the eSign process, including the need for their consent, and talk through how the signature capture process works.
  • Verify the customer’s identity – When you’re dealing with customers remotely, it’s more important than ever to make sure every customer is who they say they are. Using a compliance solution like Dealertrack Compliance during the deal process for vital Red Flag alerts and OFAC checks can help – and can also provide out-of-wallet questions if needed.
  • The next best thing to face-to-face – We recommend using video conferencing, Facetime or another video chat app to help make sure you’re dealing with the right person before you connect to their device for contract review and signing. Video is also helpful for walking the customer through the review and signing process so you can see their screen and provide direction as needed.
  • Record the signing ceremony – Choose a video conference platform that allows you to record the signing session for the purposes of ID verification and fraud risk mitigation. Tell the customer you’ll be recording and get their permission before you begin.
  • Give the customer time to read the fine print – Before the customer signs, make sure they review the contract. They can do it on the screen, but you should recommend that they use the print or download functionality to create their own copy.
  • Follow delivery protocols and best practices1 – The vehicle should be delivered as soon as possible after contract signing. When you arrive at the customer’s location,2 start by validating the buyer’s identity by matching their driver’s license to the information on the contract.
  • Don’t renegotiate upon delivery – Do not negotiate terms and conditions of the deal at the consumer’s home, as this could invoke a three-day rescission period that allows the customer to cancel their transaction.
  • Disinfect high-touch areas of the vehicle – Relieve any customer concerns by cleaning the vehicle in accordance with CDC guidelines and telling the customer about your sanitizing procedures.
  • Finalize all documentation – If there are any remaining DMV or dealer documents, have the customer complete them now. Use a tablet to photograph and upload any remaining stips and trailing documents. Be sure to have the customer sign the delivery receipt and keep it for your records. And don’t forget to deliver the final signed copy of the contract to your customer.

If a customer will be at the dealership to sign their contract and take delivery of their vehicle, you can still give them the option of bringing in their own device for signing. That can help to ensure social distancing and alleviate any concern the customer may have about handling shared devices.

Dealertrack assisted Remote Signing is available for dealerships with Digital Contracting on Dealertrack F&I. Click to learn more about getting started with assisted Remote Signing at your dealership.

The 2022 Dealertrack Compliance Guide includes a new chapter on automotive eCommerce sales. Download the Compliance Guide here.

.1 In locations where permitted by federal, state and local COVID-19 ordinances, consider offering at-home delivery and observe CDC protocols during vehicle delivery.
2 Customer must take delivery in the state they are in as out-of-state deliveries are not available at this time.

The Good News & Bad News About Out-of-State Deals

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Let’s start with the good news! Out-of-state deals are increasing as dealers promote their inventory online and cast a wider net for potential customers. Out-of-state sales grew by 16% over the past year, according to Cox Automotive analysis of IHS Market new and used vehicle registration data*. Even with the current economic situation, cross-border sales are a natural consequence of online car shopping.

As great as it is for dealerships to leverage their online presence to bring in more cross-border customers, dealers and retailers need to be prepared to avoid potential complications that come from out-of-state business.

Here are some of those potential challenges:

Good: There’s a buyer coming in this weekend for a top deal with all the bells and whistles!
Bad: The buyer is from two states away and no one in the back office is familiar with the reg and title processes from the customer’s home state.

In the past, a dealership in Nebraska probably wouldn’t register a vehicle in North Dakota very often. Thanks to digital retailing, an increasing number of customers are willing to visit another state to purchase the vehicle they want, which means out-of-state registration and title processes are becoming a common challenge for dealerships across the country. Because no title clerk has every state’s reg and title processes memorized, this leads to more time spent on phones figuring out the details, more DMV rules and regulations to know and understand, and more paperwork to process.

Good: An enthusiastic and motivated online car shopper “went the extra mile” to come to your dealership because a few local customers of your dealership area raved about the service they received.
Bad: The deal process could be slowed down or held up by time-consuming manual tax and fee calculations to make the deal accurate.

Even if your dealership’s home state has technology solutions for in-state reg and title calculations, those don’t apply to cross-border deals. If your staff needs to build a deal for an out-of-state customer, they need to know that state’s taxes and fees to get to the best deal for the customer. Being forced to compare deal options using unfamiliar tax rates and fees could make it take longer than usual to complete the deal, which could dampen your customer’s enthusiasm. If calculation errors lead to deal inaccuracies, your customer satisfaction scores could take a hit.

Good: Your registration and title submission for in-state customers is handled electronically, straight to the state DMV.
Bad: It’s much more difficult to finalize out-of-state registration and title transactions because the in-state checklist isn’t the same for customers in different states.

Most dealerships end up providing their cross-border customers with a very general idea of what they might need for registration. That lack of specificity has drawbacks for customers that could cause them to overlook something important, make them have to chase down paperwork and documents during the signing process, or worse, leave them with an unwelcome to-do list that could sour their experience and drive down your CSI score. Your dealership could help create a much more positive experience by giving every customer a simple and defined list for what paperwork they need and what steps they need to take for their specific situation.

Good, Better, Best! The right out-of-state registration and titling technology solution can help ensure that all your cross-border customers get the same level of customer service that in-state customers receive. That technology support can help smooth the process for your back-office staff to help save them time and drive up deal productivity.

Learn how the new Dealertrack RegUSA® can provide the simple solutions your dealership needs for all these scenarios.

*Based on Cox Automotive derived analysis of IHS Markit new and used vehicle registration data as of Q3 2019 where a selling dealer was identified. Used registrations includes selling dealer for 31 states.

 

Why Now is the Time for Auto Lenders to Go Digital

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Over the past several years, the paperwork and manual processes for handling auto loans have been gradually giving way to technology-based processes. But this year has changed everything. In the wake of the COVID-19 pandemic, digital solutions have quickly moved from “nice to have” to “vital” for both dealers and lenders.

Consumers have led the charge: two-thirds of car buyers surveyed said they were more likely to purchase a vehicle 100% online1. Dealers have gotten up to speed quickly: the same study found that 81% of franchise dealers and 47% of independent dealers say they now have a digital retailing solution in place.

These technology solutions help keep consumers and dealership personnel safe while keeping the deals moving – but what role do lenders play? Digital retailing tools work similarly for lenders to initiate a contact-free browsing process that can turn casual shoppers into pre-approved, contract-ready buyers for their dealer partners.

With digital retailing technology helping dealerships work deals virtually and remotely, contracting electronically is the natural next step in the deal process. And today’s customers appreciate the contactless deal experience.

Now more than ever, dealers are relying on their lender partners to support the digital solutions that keep car sales moving. Lenders are embracing technology for driving consumer engagement and expediting the signing, submission, review and funding of dealers’ contract packages. Here are some of the drivers behind many lender modernization strategies.

Digital workflows drive efficiency for everyone — and enable lenders to appear as strong service partners

In the beginning, dealers’ eContracting adoption was driven by a desire to optimize workflow efficiency to counter margin pressure and gain cash flow fluidity. But today, a contactless contract signing process and fast funding are more important to dealers than ever — and Dealertrack data shows eContracting has lenders funding their dealers as fast as the same day. Improving on this level of service helps strengthen dealer partnerships. And strong partnerships can help drive more loan originations.

Digital contract packages are designed for completeness and accuracy, ensuring that no signatures are missed, no calculation errors have been made, and no required documents are overlooked. Dealertrack data shows that eContracting can help reduce returned contracts and lower the rate of re-contracting below 1%.2

And what about office space and paper clutter? With these paperless deals eliminating hefty paper contract packages, the documents are now stored digitally — freeing up office space and lowering storage fees, while still keeping the authoritative contract and digital data readily available in case of audit.

The way forward: matching technology to business strategy

Lenders’ unique financing models and business goals make one-size-fits-all solutions a speculative approach at best. There’s ample opportunity to implement digital strategies that align to a lender’s specific business goals and the resources they have available. The right technology partner will help lenders optimize their processes, drive the online experience consumers have come to expect, and help strengthen dealer partnerships through improved service.

Read more about lender strategies for the new digital car shopper.

.1Cox Automotive COVID-19 Digital Shopping Study, April 4-5, 2020
2Based on 2019 Dealertrack eContracting transaction data

Untapped Opportunities for More Efficient Deal Completion

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An increasing number of dealers are adopting digital retailing tools to power the car buyer journey. Sharing inventory and starting deals online allows dealerships to expand their reach and customer base, which translates into year-over-year growth of out-of-state sales.

As dealerships welcome these additional customers, they quickly discover that there’s an added level of complexity to these deals. The back-end office processes of finalizing an out-of-state deal can become a time-consuming and costly process for dealerships due to 51 unique DMV jurisdictions, 100 distinct sets of taxes and fees, 250 unique forms, and 300 possible registration and title transactions.*

There’s value in improving technology and processes between the front office and back office to better streamline deal finalization. Here are some key things to consider at your dealership:

Establish user-friendly processes that empower your staff

Start by examining your mix of in-state and out-of-state customers to determine where your cross-border customers are coming from. Once you know your mix, there is an opportunity for you to create step-by-step processes for out-of-state deals that will more quickly and efficiently address these customers’ registration and titling needs.

Setting up this process requires you to obtain the relevant state-specific taxes and fees. You also need knowledge of, access to, and instructions for the proper forms needed to process the cross-border deals. Think about whether technology solutions could take the place of setting this process up manually and save you the time it takes to source forms, make phone calls to get the information state by state, and keep it updated.

Ensure you’re set up for reliable deal comparisons

Before the dealership can finalize the deal, the back office needs to work closely with the front office to complete the customer’s registration and titling work so that pricing is included in the “all-in” deal price. This involves gathering the proper documentation, taxes and fees relative to where the buyer lives to help cut down on inaccuracies and offline emails and/or phone calls with the customers. A more efficient process can result in better CSI scores.

Have the proper documentation

Because each state has different registration and titling paperwork, it’s important to be able to create a checklist for your back-office staff – and for your customer – to ensure that you are filling out all the necessary documentation. As more and more states adopt electronic registration and title (and some even mandate it), an electronic checklist tailored to each customer can help you stay up to date as changes go into effect.

Provide the same level of service for every customer

Another consideration is that you want each customer to be able to walk out the door knowing that they have given you all the information you need and signed everything that needs to be signed. Some customers may not be able to go in person to their DMV because it’s closed to the public – or they may not feel comfortable going if it’s open. Handling their registration and title process for them is one way to deliver exceptional customer service.

Consider an electronic reg & title solution

A 50-state registration and titling solution can offer online processing to help dealers eliminate the uncertainty of unfamiliar state rules and requirements. In addition to providing the necessary documents and tax rates for each state, these solutions also support refund check writing and Automated Clearing House (ACH) payments to streamline the accounting process and reduce per-deal check writing.

Other advantages to a technology solution includes DMS integration to allow the back office to pre-process transactions online. Your back office can gain tools to help estimate accurate taxes and fees and checklists to guide them toward collecting the correct customer information.

Interested in learning more? Download our Titling for a New Today Guide that focuses on process optimization.

*Source: Cox Automotive Internal Data

“Must-Dos” to Equip Your Dealership for Today’s Tech-Centric Workforce

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This article originally appeared on Digital dealer here.

By Susan Moll & Matt Hurst

While Halloween is known for bringing a month of frights, constant employee turnover haunts dealership efficiency all year long. According to the 2019 Cox Automotive Dealership Staffing Study, approximately 20 percent of dealership staff are likely to look for another job in the next six months. On top of this, NADA’s 2018 Dealership Workforce Study found dealership turnover reached a new high of 46 percent last year. So, how can dealerships reverse this damaging trend? Well, it all starts with taking stock of the changing talent pool.

A younger generation is entering the workforce and bringing with them a greater interest in dealership jobs than older generations, opening dealerships up to a new audience with a fresh point of view. Among Gen Z and Young Millennials, more than 30 percent are interested in working for a dealership, according to the 2019 Cox Automotive Dealership Staffing Study. This rate was even higher when roles other than sales were presented to them. However, appealing to this audience requires a cultural and technological shift.

Just as car buyer needs evolve, so do those of your employees. Here’s a list of “must-dos” to attract and retain this younger, tech-savvy talent and meet their changing needs head-on.

DO foster an environment that makes employees feel valued and show them there is an opportunity for future growth.

For Jennica Krebsbach, controller of Van Horn Automotive Group, creating a collaborative and engaging culture has been critical to her dealer group’s success. From instituting more flexible work hours to investing in training programs that help employees grow their careers and rise through the ranks, Van Horn understands employee satisfaction is vital to customer satisfaction.The auto group recently reimagined their on-boarding process for their sales staff to now require new hires to spend a week off-site to learn how to effectively communicate with customers, talk through word tracks, and gain a better understanding of what the sales process looks like. In addition to this, Van Horn also offers an advancement program, which is for anyone who wants to reach the next step in their career, whether as a finance manager, sales manager, etc. At Dealertrack DMS, we use individual development plans, which can be easily adopted in a dealership environment too.

DO engage your employees and ensure everyone feels like they have a say in the future of the business.

“We are 550 employees strong, so to keep everyone motivated and on the same page, communication and transparency are key,” Jennica notes. This perspective is also why Van Horn employees currently own approximately 30 percent of the dealer group and why town hall meetings occur the second week of every month. It’s all about making employees feel like they have a voice and a stake in the dealership and its success.

DO perform intermittent talent audits and “stay” interviews rather than just exit interviews.

A talent audit will help you review your workforce engagement strategy and address any needs for a specific skill set. Meanwhile, interviewing employees about why they choose to stay at your dealership and what improvements they would like to see, offers a unique point of view that’s hard to get from an exit interview.

DO evaluate the efficiency and simplicity of your dealership’s technology.

For Gen Z and young millennials, technology is more than a tool, it’s who they are, how they work, play, and communicate. These younger generations expect dealerships to equip them with the digital tools necessary to work more effectively and efficiently. That’s why leveraging a modern, open, and easy-to-use DMS system, along with a dedicated technology partner is a must-do. Plus, by not being locked into a rigid platform, dealerships have the flexibility of hiring to fill business needs rather than cater to the needs of their technology choice.

DO highlight training opportunities that are tech-centric.

Faced with the weight of high staff turnover, having intuitive technology and a provider that offers ongoing training opportunities and support is critical to bring greater productivity and speed to the new hire on-boarding process. Look to your technology provider for digital training functionalities and ask about access to peer-to-peer forums, self-service support, and virtual training and webinars.

A new, younger generation of workers is out there, and many are interested in dealership jobs. It’s time to take a look at your current technology and talent strategy to see if they make sense for the needs of today’s consumers and a changing workforce.

(Stay tuned for more, as this is part III in a monthly series of must-dos to keep your dealership running efficiently all year long.)

About the Authors

Susan Moll, Senior Director of DMS Field Services, Cox Automotive.

Matt Hurst, Senior Director of Tech Client Support, Dealertrack DMS.

This article originally appeared on Digital dealer here.

1 Surprising Way to Improve Your F&I Sales

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We all know how the traditional F&I sales process works – and how customers react when a new round of hard selling starts, just when they thought their deal was nearly complete.

According to the Cox Automotive Customer Journey research, more than half of car buyers are dissatisfied with the length of time it takes to complete a vehicle purchase. Interactions with the F&I department are a sore point, so for car dealerships, streamlining the process and making it more customer-friendly is essential to increasing profit.

The same research also found that one out of every three customers arrives at the dealership with no awareness of F&I products – and awareness of these options is crucial for sales.

An article from WardsAuto showcases the future for F&I sales: customer self-selling. In the article, Kevin Cook, general manager of Straub Automotive Group, explained how his dealerships use menu selling to introduce customers to aftermarket products in a friendlier and more comfortable way.

Before customers leave the salesperson’s desk, they receive a tablet from the F&I manager to watch a brief video presentation touching on available aftermarket options. The dealership receives data in real-time showing them which product videos the car shopper watched the longest, which helps the F&I manager determine which vehicle protection products most appeal to each customer.

Here are six reasons why this makes the aftermarket sales process more customer-friendly:

  1. It keeps customers occupied and engaged when they might otherwise be waiting idly for the F&I manager to finalize the rest of their deal documents.
  2. Many customers who started their research online will observe a seamless transition between the dealership website and the in-store introduction to the F&I options.
  3. Each product can be showcased with multimedia presentations including video – and the customer can choose to dive deeper to get additional information.
  4. The presentations include accurate, up-to-date cost information for each product.
  5. Customers get the opportunity to consider their own needs and realize the value of each aftermarket product and how it will protect their vehicle.
  6. The F&I manager can take the information gathered and complete the sale of aftermarket products knowing which ones the customer is most interested in purchasing.

Straub Automotive Group has found that menu selling positions their F&I managers as problem-solvers for their customers, which is a far cry from the hard-sell approach. And it’s been effective, with their stores reaching 80% penetration for sales of vehicle service contracts.

In today’s online, self-service world, customers expect new ways to handle their automotive purchases. In this case, technology paves the way for positive interactions with the F&I manager that make finishing the sale faster and more satisfactory for the car buyer.

Dealertrack F&I offers a seamless connection with Darwin Automotive to provide dealerships with an enhanced F&I Menu process that eliminates data re-entry and creates a more efficient contracting workflow. Learn more and request a demo.

 

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.