Three ways that dealers can boost their bottom line
Following the pandemic, with seemingly never-ending chip shortages and the drive towards sustainability, dealers are being forced to adapt – or suffer serious impacts on their bottom line.
The global chip shortage has made it near-impossible to access new stock. The rising popularity of electric vehicles, containing fewer serviceable parts, has impacted aftersales revenues and earning potential. Supported by the right DMS, business leaders can uncover additional revenue, improve efficiency across their group, and cut costs.
Act on opportunities from data-rich reports
Whether managing one or multiple branches, leaders want visibility. A DMS should show how every branch and team performs, with useful reports to indicate where opportunities lie.
Neville Briggs, Managing Director at Pinewood Technologies explains –
“Many of our customers have adapted processes and found new ways to boost revenue based off the insights in Pinewood DMS. Dealers must identify and respond to market changes which effect margins, efficiency, and ultimately profits. We encourage our customers to make the most of our intuitive reports and BI tools.”
Many groups have refocused efforts on used sales to facilitate the rising demand. Meanwhile, by encouraging Aftersales teams to upsell more work during vehicle health checks, dealers have bridged the revenue gap.
Embrace digitalisation or get forced into the slow lane
Customers demand flexibility, so dealers should aim to improve their service offering both online and in-store. A digitally-focused DMS will optimise the omnichannel experience – catering for customer expectations of today.
Digitalising traditional dealer processes helps to streamline workflows and boost convenience – positively impacting the bottom line. Most leading systems have digital tools available, from accepting eSignatures, to storing documents digitally, to enabling customers to pay online.
In the workshop, Technicians are now largely reliant on mobile DMS apps – often faster and more efficient than working from a PC. With Pinewood’s Tech+ app, Technicians can send a VHC video to the customer straight from the ramp, add write-up notes to job cards, and immediately see if a customer approves recommended work. Dealers are boosting productivity and workshop revenue as a direct result.
Don’t complicate it. Choose a DMS which has the tools you need built-in
Switching between multiple systems can be costly, difficult to maintain, and a barrier to productivity. Therefore, its key dealers invest in a DMS that will leverage their business – with the tools they value and rely upon, built-in.
As explained by Dougal Keith, Managing Director at DM Keith Motors –
“The DMS is used in absolutely every area of the business, replacing lots of different systems that we had – that was fundamental in the decision process for us. Pinewood’s system has revolutionised our workflows. It’s fundamentally changed the way we operate as a business, more efficiently and more effectively. It’s very easy to learn and implement and has driven cost out of the business.”
With so many factors influencing the bottom line, businesses need complete visibility and control, to help identify and action profit opportunities. Choosing the right DMS is essential – dealers must be sure they’re equipped with the data and tools they need to succeed.
To see how Pinewood could help your business, visit www.pinewood.co.uk