Technological change is inevitable. Whether it’s upgrading to a new DMS or simply adapting to the changes that come with advances in technology, changes are coming to every controller and every accounting office in every dealership. Ironically, controllers and accounting offices are among those most resistant to change, even though they arguably have the greatest impact on how technology is implemented and used at the dealership level. Consider the following ways you and your accounting team can embrace change and technology to become a more efficient and profitable dealership.
Know the purpose of technology
Technology in general, and your DMS technology in particular, is more than just a way to crunch numbers and complete a daily, month-end, or year-end to-do list. Your DMS technology can be the key to unlocking increases in efficiency and profitability, as well as dealership growth.
When your accounting team (and every dealership employee for that matter) can see that there are better ways to accomplish what you do and clearly see the steps that follow yours, you can begin to see how your job performs. a vital role. in major dealership works.
Coincidentally, the right technology can help you step back to see the big picture of the dealership and how your work (and your technology) can benefit the dealership as a whole and each employee individually.
Improve employee onboarding and retention
The sale of automobiles is a high turnover activity. Finding and keeping the best employees is a constant battle that every dealership fights. Every dealership tries to figure out the secret to avoiding turnover, not only because it can hurt sales continuity and workplace culture, but because it’s incredibly expensive. Accounting offices will appreciate that turnover costs dealerships an average of nearly $439,000 each year, according to research by DrivingSales. While there may not be a one-size-fits-all solution to this complex (and expensive) problem, one answer is certainly to improve the technology.
When dealerships work with employees by offering them a structured onboarding program, which involves training them over several months, staying engaged with them, and tracking progress and addressing concerns, employees can begin to see their role throughout the dealership. to plan. Working with a technology provider that is willing to help advance employees is essential. This happens not only by providing the latest and greatest technological advancements, but by easing workflows, speeding up tasks, removing friction and redundancy, and providing perspective on how each dealership department performs. connect. It also happens when technology vendors facilitate networking opportunities with industry peers, either through a dedicated platform or through educational industry events. All of this helps new hires work toward larger dealership goals, giving them a broader sense of purpose, which drives dealership efficiency, job satisfaction, and ultimately profits.
Improve customer experience and facilitate flexible shopping experiences
As the car buying preferences of modern customers change, dealerships and their technologies must adapt. Customers today are preconditioned to expect convenient online shopping experiences in all areas of their lives, and they won’t tolerate dealerships that seem stuck in the past. Instead, they’ll find another dealership that offers the kind of hybrid online/in-store shopping experience they’re looking for.
These new types of car shopping and buying experiences are only possible if a dealership’s technologies work together. When a DMS seamlessly integrates with other dealership technologies to share information between platforms, customers have the flexibility to start a transaction online and continue it wherever they want, including at home. the dealer. This is the next generation of car shopping, and dealerships that embrace technological change can stay in step with their customers to increase efficiency and profitability.
As accounting offices understand how technology benefits the entire dealership, improving employee onboarding and retention and the customer/sales experience, dealerships can embrace the changes and adapt alongside their employees, their customers and the technology itself to become more efficient and profitable. With the right perspective and the right technology, it’s an overall benefit that ultimately helps the accounting office as well.