Enhance your document management
Learn the latest automotive documentation industry trends, best practices, news and tips. Our academy is full of articles and resources to provide you with immediate ways to improve your dealership efficiency and streamline data capture workflow.
How to Close Your Month in 2 Business Days
There are two big reasons many dealerships struggle to close their books quickly: lack of pressure from the top and co-worker buy-in. A Controller can’t do it alone. A two-day close requires that the entire dealer group be on the same page because a lack of data from one department can delay the entire process.
3 Accounting Take-Aways from the A-Team
Growing up in the 80s, I loved the A-Team. I thought they were the coolest; even the van was awesome! Ultimately, what made them great as a team was that they worked better together. The “better together” philosophy can easily carry over to a different A-Team: the “Accounting Team.”
Don’t Be a Frog in Boiling Water
As the fable goes, a frog put in a cool pot of water that is slowly heated will happily hang out until its eventually cooked. The gradually changing temperature fools it into thinking conditions are not changing. When it comes to your DMS provider, you cannot be complacent like the frog.
4 Steps to Get Your House in Order for Service Warranty Audits
Service warranty audits are back – some dealers say with a vengeance, according to a recent Auto News article. Others consider the return of audits, now that the pandemic has eased, to be business as usual. Why do some dealers find it easy to stay on top of compliance while others panic when a warranty auditor sends them notice?
6 Tasks to Re-Purpose Employee Time When Business is Slow
“Inspect what you expect” is a well-known business phrase that I think is particularly applicable to our industry today. That’s because many dealership employees have a LOT of time on their hands right now. Why not re-direct that time towards everyday tasks that you expect are getting done, but often don’t have the time to inspect?
How to retool your floorplan for today’s market
Floor planning is not a new topic; but it’s gotten a lot more interesting lately. As Auto News reported in a recent article, floorplan swung from a $96-per-vehicle-expense on average in 2019 to a $140-per-vehicle gain last year. The gains are attributed to slim vehicle inventories, low interest rates, and credits from OEMs.
Having Trouble Sourcing Used Vehicles? Get Creative!
A drive around town quickly identifies an odd reality: dealers’ lots are bare bones. It is honestly shocking how few new cars are on the ground. As new car inventory continues to fall, consumers are turning to used cars – putting a big strain on supply and driving up prices.
What’s really in a Deal Jacket (and why does it make e-contracting so hard)?
I believe the paperless car deal is the holy grail of automotive retailing. In my last blog, I talked about how e-contracting is the sticking point in reaching this ideal. The reason is two-fold: First, car deals are complex and sometimes messy. Second, the paper system isn’t broken.
e-Contracting: A Game Winning Strategy Without a Playbook?
I know from my time as a Controller that digital contracting sounds like a no brainer for the dealership. The benefits are there: less paperwork, less storage costs, faster funding, and delivering that “friction-less” experience we’re all hearing so much about. It’s no wonder e-contracting is the new popular kid on the block.
Where are the auto dealer compliance officers?
Compliance officers can protect dealerships from liabilities and hefty fines. Yet, this position is rare. Only 14 compliance officers were accounted for in the NADA 2018 Dealership Workforce Study, according to ESI Trends, a Largo, Fla., consulting firm that conducts the study.
DMS Negotiations Tips & Tricks
You just paid another huge DMS bill, or you heard about a great new system from your 20 Group, or you want better support. There are a myriad of reasons dealers decide to switch DMS providers. Whatever the reason, it’s a major decision because your DMS touches every aspect of your business.
How to Prepare for a DMS Switch
A recent article in Automotive News showcased how the overall market for DMS software is in flux with disrupters cracking the decades-old duopoly of CDK and Reynolds and Reynolds. NADA 2021 proved the point with as many as 20 companies exhibiting DMS software. If you’re one of the many dealerships who recently signed with a new provider, you’re going to need to buckle up.
4 Tips for (Actually) Closing Your Month On-Time
The phones are ringing off the hook. Your door is closed yet people keep pouring in. You have sales managers asking for their commissions, management wanting the final numbers for the month, a floorplan needing reconciled, and the statement still hasn’t been uploaded to the manufacturer.
The 9 Deadliest Missteps of Document Scanning
Electronic document storage is now becoming the rule rather than the exception at many dealerships – and for good reason! The benefits are far reaching: from enabling easier audits to ditching jam-packed filing cabinets. Yet, as with any big change, there are speed bumps. The biggest obstacle is the lack of an official dealership scanning process.
How Poor Cyber Security Can Cost you $1.8 Million in Lost Business
Cyberattacks are becoming a common problem and lost productivity due to a cyberattack is a huge blow to any business. Here at One View, we are aware of at least 5 dealer groups in just the last six months that were impacted by cyberattacks. One group with 25 stores and over $80 million in annual revenue lost all access to their computer network for over a week.
9 “Must Have” Components for a Document Management Solution
It’s NADA time again! While this year’s show may look different, it still is the best opportunity to discover and explore technology solutions to successfully run your business.
Who’s Watching the Watchman?
A dealership is a complex organization with a lot of moving parts. With only so many hours in a day, an Owner or GM has to trust the CFO & Controller to handle financials. But as the saying goes: absolute power can corrupt absolutely. Who’s watching the watchman at your dealership?
Buried in Deal Paperwork? How to Cut the Clutter.
A glance into any dealership accounting office reveals a lot of paper. That’s because selling cars creates a LOT of paperwork. Although a “paperless” office may be the holy grail, we’re not there yet.
Take a Tip from Santa for Effective Vendor Management
Making a list and checking it twice is one of Santa’s best known practices. It’s worth emulating when trying to manage a lot of information. Like your list of vendor partners. The average dealership has around ten vendor partners. Large groups can have hundreds. Whatever the length of your list, proper management helps you weed out the naughty (costing you money) from the nice (making you money).
Your Most Important Hire in 2021 May Surprise You…
It’s not an Internet Sales Manager to keep up with the surge in online leads that many dealerships are currently experiencing. It’s not additional service technicians, who are becoming increasingly scarce to hire.
Take Back Control of Your Vendors
The old saying is “hindsight is 20/20.” It feels like “foresight” needs to be 2021. The ongoing pandemic continues to challenge dealers as we grapple with uncertainty. Many dealers are anxiously awaiting how the industry will trend through the winter and post-election. It is a safe bet that the majority of dealers are evaluating every […]
Would you know if your store was missing over $200,000?
How and Why to Make Your CPA Your Most Important Relationship
What Service Managers Don’t Know and Why it Could Hurt Them
Every service manager knows that they must keep accurate and complete records. The task is not complicated but commonly lands on the bottom of the priority list. Why? Because the process takes time, organization, and knowledge about retention requirements. What can a service manager do? Be proactive and prevent chargebacks with the following techniques and strategies.
Net Up to $12k Per Month in Additional Gross Profit by Doing This.
In my last blog, I talked about how to ace a manufacturer service warranty audit. This blog looks at the flip side of audits, or how to proactively audit your internal warranty operations to uncover gross profit opportunities. For more information about how One View can help you with this check out our Dealer Services page.
5 Tips to Ace Manufacturer Service Warranty Audits
As the saying goes, the only guarantees in life are death and taxes. For dealers, you can add a third: audits. The general trend in the industry over the past few years is manufacturers auditing more frequently, on a smaller scale. Manufacturers are struggling in the time of COVID-19, and it’s likely that increased audits will be a source of revenue for OEMs. Many dealerships are also facing economic hardship due to the disruption caused by the pandemic. Now more than ever, it pays to be proactive in reducing liability to manufacturer warranty charge backs.