The unprecedented COVID 19 crisis will require new ways of thinking. Here’s how data and metrics can change the way your managing your car dealership and help you thrive.
Data and metrics are vital to your company. At a time when businesses are having to deal with a crisis the like of which we’ve never seen before, a solution which can measure, consolidate and control all your data in one place should be a number one priority.
It helps you keep close tabs on your operations, identify opportunities and ensure you manage everything as efficiently as possible.
So, although many businesses are cutting back, making an investment now into the future of your business can revolutionise the way you produce reports, manage data and take you forward into a more high-tech management regime.
Here are a few ways you can transform your management operations to fit the current market dynamics.
– Investing in tools to look inwards
Measuring success in the automotive industry involves processing a great deal of raw data. Success depends on how quickly you can produce reliable key performance indicator reports and the depth to which this data goes.
Efficiency is everything. You need a solution which can bring all these metrics from various parts of your dealership into one place.
This is what we offer with Automated Metrics with a solution which helps you calibrate all these stats from a single location. No longer do you have to chase information; now it all comes to you.
The biggest thing this gives you is time; time to focus on other tasks and to steer your dealership into the future. For example, you can focus on a management style which drives greater efficiency and ensures your dealership is a trendsetter rather than a follower.
– Slashing Paperwork
There’s a reason larger corporations are cutting back on their manual reporting. It is expensive, takes time and causes errors. However, thanks to technology, all these processes can be automated. There’s no need to store paper documents or spend time painstakingly inputting data. It is all done much more quickly.
To illustrate the difference, let’s look at the old-fashioned approach in which you’re processing large volumes of paperwork.
This is a time-sensitive process so you’re rushing to get complete tasks and process documents in time. Your employees can often be left feeling scatterbrained and stressed out by constantly repeating the same menial and mundane tasks.
These tasks don’t let you get the maximum value from your workforce. Much of this information doesn’t tax their skills and could be completed more efficiently. Instead, you can implement a system which automates data collection and gives you much better control over your information.
With Automated Metrics, all you need is a small monthly investment to revolutionise internal processes in managing your car dealership, optimise workflows and gain new insights.
Most importantly of all, handing this process over to computers reduces the potential for human error.
– Maximising efficiency in managing your car dealership
Convenience is a much-underestimated commodity for business. Obsessing over paper trails can be frustrating for employees and can erode their job satisfaction. Most of all, it diverts their talents from other areas of the business which could be more profitable.
A harmonised system will bring in all data to show you all sorts of information such as:
- work in progress,
- future booking levels,
- throughput levels,
- technician efficiencies,
- stock performance and profiles
- and finance & insurance benchmarks
Instantly, your employees are happier. The system is much more convenient and frees them up for other tasks.
For example, you’ll want your sales team to spend as much time as possible doing what they do best, selling cars and making money.
However, old processes can force them to spend much of their day on administrative tasks and reduces their available selling time. Every day, then, it’s effectively costing you money by reducing the average value of your employees’ time.
Going a little deeper, you may also find unexpected benefits. We all perform better at tasks which challenge and inspire us.
Your employees will have more time to develop their talents without the constant burden of admin. They’ll be happy and more content in their work, which according to various studies, contributes to better performance.
– Living in a cloud of reliable and accessible info
The cloud has transformed business. It makes it possible to access more capacity without installing vast amounts of hardware onsite. It gives you access to more powerful analytics platforms which make it cheaper, faster and easier to automate data than ever.
Everything comes from one accessible interface giving you real-time stats on your business and helping you to make faster and more effective business decisions. It can also help your teams collaborate remotely. They no longer need to be on-site to see this information; they can access it remotely from wherever they are.
– Identifying the early onset of trends
One of the most important factors which will determine success or failure in the future will be how quickly you identify and react to trends. Technology has created a business landscape which is continuously changing and evolving. In this environment, those businesses which are agile and can react to developments as and when they happen will be best placed to succeed.
The more closely you can analyse your KPIs, the better placed you’ll be. You’ll be able to monitor progress and react to new developments as and when they occur. At every stage, you’ll have an edge on the competition; you’ll react to bear market changes, avoid problems and grasp opportunities others might miss. The result will be a superior performance, increased productivity, reduced cost and higher revenue.
Position yourself for success when managing your car dealership
In conclusion, life as an executive manager in the automotive industry can be challenging at the best of times, even more so given the current crisis.
It will add value to every part of your business, adding up to a major gain overall. With Automated Metrics, you can position yourself to thrive in the future. We hope this blog has helped you in managing your car dealership, please feel free to read more on our blog page.
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