Avid readers of Automotive Management Magazine will have spotted iDealFILE in the FUTURE OF MOTOR RETAIL spotlight – as we share our thoughts on using new technology to stay ahead in the ever-changing automotive retail environment.
The full text of the article is below – you can also download a copy here.
Use technology to boost sales efficiency and profits
In an ever-changing automotive retailing environment, successful dealers will be the ones that use new technology to transform traditional ways of working.
As a new world of automotive retail fast emerges, the pressure to improve business performance and achieve sales objectives is set to be more intense than ever.
That’s where the latest technology can make a huge difference – giving innovative retailers the ability to achieve more without making significant capital investment.
The Deal File Dilemma
Take the creation and management of deal files for example.
These important files, which can consist of up to 70 paper-based documents, have always been created, managed and audited manually. This creates a host of challenges:
- Even a single deal file needs input, reviewing and approvals from multiple stakeholders – potentially in multiple locations
- Deal files need to be stored for up to 7 years – using up valuable space onsite or adding costs and complexity of managing offsite storage
- Paper deal files may need to be taken from one site and duplicated in another to allow for centralised administration
- Hunting for paper deal files can impact customer response rates or business analysis
- Manual checks and reviews can increase error counts – rectifying these unnecessary mistakes can use up valuable time
As this administration burden increases, retailers lose valuable man hours in the quest for new sales. But help is at hand.
Breaking With Tradition
Developed specifically for the automotive industry by automotive people, iDealFILE is an online deal file platform which gives sales teams a completely new way to create and manage deal files.
It is the first online deal file platform capable of extracting post-sale documents direct from a dealer management system – turning a manual paper-based process into an efficient, secure, auditable digital workflow.
Utilising Microsoft’s ISO 27001 accredited Azure platform, iDealFILE enables sales teams to take important documents off desks, out of filing cabinets and into a secure cloud area which can be accessed remotely 24/7 via desktop, tablet or mobile.
Thanks to this new way of working, sales and administration teams enjoy time savings of between 2 and 4 hours per deal file. On top of that, they benefit from cash savings of at least £4 per deal file thanks to reduced print, paper storage and retrieval costs.
As a result, iDealFILE is, at the very least, cost neutral for any dealer that installs the system as the cash savings more than offset the licence fee – leaving the productivity savings to positively impact on a retailer’s bottom line.
A Bright Outlook
In summary, the key to successful automotive retailing will never change. It will always be about providing excellent customer service, driving throughput and achieving absolute operational efficiency to maximise profits.
What will change will be the tools at our disposal to help us overcome the operational challenges of the past.
Thanks to its combination of cloud computing, pioneering thinking and automotive insight, iDealFILE is the perfect example of secure, scalable and affordable technology.
A powerful solution that will enable retailers to win the efficiency battle and maximise profits.
To find out more about our award-winning deal file platform and to see how we can transform your document management, call us on 01635 905985 or email email@example.com and we can set up a system demonstration or arrange a trial.