Before dealership management system software, team members had to log into multiple solutions to retrieve customer information, access service history, or schedule appointments. This process could have been more efficient and often led to issues falling through the cracks.
A dealer management system combines every aspect of a dealership’s business into one system to reduce inefficiencies between departments. These systems include e-commerce functionality, buy-pay here (BHPH) management with payment processing, inventory management tools, and reporting capabilities.
Sales
A dealership management system combines all the tools a business needs to run its daily operations into a single platform. It can help you manage inventory, create point-of-sale invoices, track service history, and pursue leads. Streamlining these processes can save you time and money and reduce the risk of error.
Using different systems for each department in a dealership can cause confusion, slow down productivity, and increase the likelihood of errors. A dealership management system software is designed to eliminate these issues by connecting all the departments in one centralized system. With this, each team member can use a single tool to access the information they need. This way, there is no need for a manual process, eliminating the chance of human error.
In addition, a dealer management system can keep customers updated on their work status. This informs them of their car’s progress and helps build customer satisfaction. It can also send notifications when work is starting or finished or if the customer is waiting for car parts to arrive.
Modern customers are constantly connected 24 hours and prefer a seamless experience when they interact & engage with dealerships. Having a seamlessly integrated CRM with Customer 360 & Vehicle 360 is vital for dealerships to deliver a personalized customer journey and achieve sales growth.
Service
Most auto dealerships understand the importance of dealer management system software because it helps them run smoothly. It combines tools for automotive businesses, such as inventory management, point-of-sale invoices, and service history, into one platform. This reduces the time and effort of business owners as they no longer have to log in to multiple solutions to manage their dealership.
Aside from its sales-centric features, DMS can also automate processes to help dealerships save time and boost their profit margins. It can also provide more accurate data on stock levels and demand for specific types of vehicles. This can help them avoid overstocking and understocking and improve the efficiency of their operations.
In addition, DMS can streamline financial planning beyond vehicle purchases. For example, it can help sales teams check customer credit scores and assist them with the calculation of payment plans and trade-in costs. This can help them meet customers’ expectations and increase sales growth.
As a result, DMS can help a dealership grow more quickly and increase profit margins. It can also simplify the work of a dealer’s sales and service team, helping them perform better and increase customer satisfaction.
Finance
Before dealer management systems were created, automotive dealerships had to log into multiple software to complete daily tasks. This could have been more efficient and left departments with many gaps in communication resulting in missed opportunities for sales, service, and finance. Today, a robust DMS is a suite of bundled software that works as a single tech stack to support each area of the dealership. This enables teams to perform all their work from one platform, automate tasks, and track performance metrics.
With built-in tools, a DMS helps automotive dealerships set fair acquisition and sale prices. It also supports internal market research by integrating with high-traffic websites customers browse as they prepare to buy a vehicle. Moreover, it helps dealers stay competitive with various customer service capabilities. These include virtual reality test drives and augmented reality remote repairs.
Additionally, a DMS allows dealerships to connect with customers efficiently by keeping their information centralized and integrating with various applications. Various ancillary apps, such as CRM programs, mobile apps, IoT applications, and warranty systems, exchange data with the DMS through a centralized API gateway. The DMS makes it easy for teams to access these apps with a single login, allowing local flexibility and efficiency. In addition, it enables dealers to streamline the entire process for more sales.
Inventory
A powerful DMS lets you track all the data points that matter, from car inventory to up-to-the-minute website listings. It also automates workflows and streamlines reporting for better profitability.
It provides a birds-eye view of dealership operations and can help you pinpoint problems. For instance, DMS will alert you if you purchase too many vehicles to accommodate your service bays or sell within a reasonable timeframe. The software also helps with market research. It can pull information from high-traffic sites that customers visit as they prepare to buy a vehicle and provide it to your sales team. This can boost your marketing effectiveness and accelerate the sales process. DMS allows you to capture service-related data, resulting in improved customer experience. The system captures data such as mileage clocked, vehicle performance, and conditions to help identify issues early for preventive maintenance or repairs. This enhances customer retention and allows you to manage vehicle recalls effectively. DMS offers a flexible and customizable API gateway for seamless integration with various apps such as ERP applications, CRM applications, IoT devices, loyalty management systems, etc. These are essential for delivering a great dealership experience to your customers. Many older dealer management systems lack accessibility via mobile, restricting the operational capabilities of dealerships. New-age solutions provide mobile-friendly interfaces for anytime-anywhere access, helping businesses to keep a pulse on business processes.
