The Advantages of Using Auto Dealer Management Software

Do you find operating an auto dealership difficult in terms of inventory, repair services, regulatory compliance, loan processing, warranty, and, most importantly, customer retention? If the answer is yes, there is no reason to be concerned. The automotive industry is becoming much more effective as new technologies and innovations are developed.

Indeed, the days of using traditional excel spreadsheets or simple customised accounting programmes to handle sales and customers are long gone. Now is the time to become acquainted with the method of auto dealership software that will help you streamline your auto dealership duties.

What are the challenges faced by auto dealers?

Running an auto dealership can be taxing because there are so many aspects to consider, such as new car sales, used car sales, administration, inventory, parts, services, and so on. Every week, millions of dollars pass through the cash registers and bank ledgers at the dealership. If a dealer lacks the right demographics for all products or the right mix of makes and models, they may face cash-flow problems that threaten their survival.

Furthermore, dealers must keep track of numerous details that are required when selling a car or any other vehicle. Without an automated accounting system, managing all of the records becomes difficult. As a result, auto dealer software solutions are required to assist dealers in working together to increase revenue.

What is auto dealer software?

Auto dealer software, also known as dealership management system (DMS) or car dealer software system, can help you handle used and new vehicle sales, purchases, and documentation. This dealership management system keeps track of sales commissions across multiple locations. With the assistance of auto dealer software, you can automate your used and new car dealership operations, customer relationship management, and accounting processes.

What are the features of auto dealer software?

  • The following features are included in auto dealer software:
  • Inventory Management- With the inventory management feature, it’s simple to see what’s available in the lot at any given time. The repair shop can also keep track of the available parts and tools with this feature.
  • Loan Processing- Auto dealing necessitates the completion of some form of financing or loan processing. Auto dealers should use a loan processing feature to eliminate third-party participation and speed up the process in order to close sales on time.
  • Auto Repair – This feature allows you to organize and schedule auto repairs on-site. Using vehicle histories, you can quickly troubleshoot problems. With the assistance of an inventory management system, mechanics can see what is available and what needs to be ordered.
  • Regulatory Compliance – Before handing over the vehicle, the buyers must be verified and all parameters pertaining to their identification must be met. Furthermore, the individuals’ criminal records should be automatically cross-checked. It ensures that documents are compliant with legal requirements.
  • Credit Checking – This functionality coordinates with an auto dealership’s finance department, as well as the reports, and comes from credit bureaus such as Experian and TransUnion.
  • VIN (vehicle identification number) database records • VIN (vehicle identification number) database records- It acts as a unique identification number that helps in adding new vehicles to inventory and recording sales data by maintaining a database of vehicle identification numbers.
  • Warranty and Service – This feature tracks and stores information about vehicle warranties at the time of sale in a centralized database. When a customer’s car warranty is about to expire, it alerts the dealership so that it can be expanded further.

A good Dealership Management software will assist you in harnessing the power of your data in order to maximize your dealership’s operations. Analyze customer data and marketing spend to see your ad budget’s return on investment (ROI) easily. Create custom dashboards and reports to keep track of every aspect of your dealership’s performance.

  • Pre-built Dealership Reports
  • Dashboards for a quick overview of your business
  • Create Your Own Reports & Dashboards
  • You’ll get schedule reports via email.
  • Keep track of inventory costs.
  • Profitability & Aging Sales Activity Management & Tracking
  • ROI (Return on Investment): Track Sales Revenue and Profitability
  • Assess the efficacy of your day-to-day activities.