Three Ways Your DMS Can Make You More Money
What do you expect from your dealer management system (DMS)? Many dealers view it as a way to capture transactions, track inventory and account for all the dollars that help them manage their business strategically. But what if your DMS went a step further and served not only as an accounting tool, but also as a management tool to help you change employee behaviors and optimize cash flow, all to help you grow revenue? If you’ve ever thought, “Gee, it would have been great to have known that yesterday,” you understand exactly what we mean.
How can a dealer management system help you make more money?
Manage in Real Time
Your dealership is responsible for hundreds of transactions and decisions every day, but if you don’t have a tool identifying potential issues, you could be losing money. Your DMS should provide pertinent information to managers in real time, so they can make informed decisions that propel the business forward each day.
Provide Employees with Timely Information
In order to enable and empower employees, managers should be able to quickly share information with them based on timely reporting. By making data available to everyone, you can change employee behavior, routines and habits so that they’re more productive and accountable.
Highlight Profit Leaks and Opportunities
You never want to lose money or miss opportunities to make more profit. Using a DMS that identifies profit leaks such as automatically adding a disposal fee for a battery change can keep money in your dealership. Your DMS should also identify opportunities, like suggesting service work that a customer previously declined. With the right DMS, your Service employees can see that information while talking to a customer and make another attempt at a sale.
A good DMS is a reliable tool that helps you manage your day-to-day operations, but also helps you identify new opportunities for profit growth.