An excellent dealer management system can provide a birds-eye view of the dealership’s operations. It should also have reporting functions that enable the dealership to measure performance across departments and zero in on specific issues. Look for a provider that offers flexible integration with third-party software and data services. Avoid providers that restrict access to new technologies through high fees or limit functionality.
Robust Integrations
A dealer management system provider must provide seamless integration with other dealership systems. This is crucial because it allows for data to flow freely between departments and eliminates any errors associated with manual information entry. It also ensures that all departments are aware of the activities taking place in other areas of the business. A DMS that doesn’t offer robust integration can leave your business vulnerable to potential issues arising down the road. For example, suppose your DMS doesn’t include a backup and recovery plan for critical information that could be lost in a natural disaster. In that case, it can lead to significant losses for your dealership. Robust DMS integrations allow dealerships to integrate with various third-party services and software to improve productivity and efficiency. Peripheral apps such as customer relationship management (CRM) tools, warranty systems, e-commerce chatbots, and more can exchange data with your dealership’s DMS through a centralized API gateway. For example, a leading communication platform known as eLead helps dealers close the loop between departments. With service reminders, two-way texting for scheduling, bill pay, and recall notices, eLead can boost CSI scores, increase sales and profitability, and enhance customer satisfaction. It can even be used to promote specials and incentives to share with prospective buyers, further increasing revenue.
Scalability
A dealer management system empowers dealerships to monitor operations on a single platform, automate tasks, and track metrics to optimize business. Moreover, it helps to build trust with users by providing them the ability to access and manage data anytime, anywhere, on any device. Besides, a DMS facilitates easy collaboration between different departments at a dealership. For example, a work order created in the reconditioning department can automatically be updated in the accounting system and the vehicle inventory to make the car ready for sale. This eliminates the need for manual shuffling of paperwork or data entry across multiple systems, thus boosting productivity. Another benefit is that DMS can simplify financial planning beyond just inventory purchases. For example, it can be used by sales teams to check customer credit scores and assist with financial calculations to determine payment plans and trade-in costs. The marketing team can also use the DMS to track lead sources and measure ROI on advertising campaigns.
Additionally, it can be used by service advisors to identify potential issues that may arise with a specific vehicle or product and inform the customer of any recommended services. The DMS is also useful for assessing customer satisfaction through surveys and feedback. It can improve the overall buying experience by facilitating the delivery of high-quality products and excellent customer service.
Easy to Use
A DMS is a suite of bundled software that dealerships use to manage day-to-day operations and record-keeping in areas such as accounting, inventory (from one or more locations), money (cash, finance, wholesale, buy pay here), vehicle pricing, F&I, parts inventory and invoicing, service merchandising and invoicing, and sales tracking. A good DMS also helps dealers manage customer relationships and provides tools for printing contracts and forms, including DMV documents. A dealer management system allowing quick access to critical information can save time and effort in the long run. Look for a provider with centralized storage, easy version control, and the ability to connect to peripheral apps through its centralized API gateway. This will allow the DMS to respond more quickly to issues and problems, which boosts trust. Another feature of a DMS is the ability to track dealership data for all departments and maintain a bird’s s-eye view of the business. A good DMS will help identify bottlenecks and inefficiencies across departments and give you a better sense of how your business is doing compared to others in the same industry. It will provide custom reporting that lets you zero in on the metrics that matter most to your dealership.
Customizable
The best DMS providers can customize their solutions according to the unique needs of each dealership. During a demo, look for a provider that asks questions about your specific business and offers real solutions to help you run your dealership more efficiently. It’s also a good idea to request references from previous customers who have similar needs and goals so you can see how well the provider lives up to its promises. Dealerships use various tools for their day-to-day operations, including sales, financing, and service management. Ideally, a DMS would combine all these tools into a single platform to streamline intradepartmental communication and provide better data analysis capabilities. The suitable DMS is a powerful tool to improve each facet of your automotive business. In addition to integrating sales, inventory, and financial tools, a reliable DMS will offer a customer relationship management (CRM) component to help your salespeople track their pipelines, manage leads, and follow up with customers. Likewise, your parts department should have all the tools to track stock levels and order new vehicle parts in the shop. A centralized API gateway makes it easy for your DMS to connect with several peripheral applications that either need data from the DMS or share their information. Various warranty systems, IoT applications, customer loyalty management platforms, and more can connect with your DMS through this interface.
