Introducing Expense Control to help identify excess costs
New feature now available in Pinnacle designed to help identify excess costs and improve profitability
Expense Control enables a deep analysis and cross examining of all postings, building upon the limited analysis that a typical range of nominal codes can provide. In order to achieve this, all costs are assigned to cost groups at the point of entering into Pinnacle. These cost groups, such as Vehicles, Travel, Advertising or Entertaining can include trackable items such as fuel, servicing, repairs or particular individuals, for example. As an example, fuel charges processed through the Purchase Ledger could be recorded against both a vehicle and its driver so that each of these could be analysed separately.
The real power of Expense Control is the range of ways to filter information, enabling you to review your cost groups and items across a range of financial periods and within cost centres using a range of Profit & Loss codes. Drilling further into the information, you can view the nominal codes and source transactions to better understand the source of the cost and take the necessary action. This level of analysis is simply unavailable without this new control mechanism.
Our approach to Expense Control is typical of our core values – to help our customers be successful. Each evolutionary bi-weekly Pinnacle update focuses on three objectives; improving dealer profit opportunities, removing process inefficiencies, and enhancing customer experience.
As of today, every Pinnacle user has been given a powerful Expense Control tool, free of charge, with the aim of making their dealership more profitable.