Data to Watch in this New World
Last year we were all managing business in a very different way than we are today. This new “World” we are all in requires a new perspective to measure success and performance. Many employee are now working Hybrid or at home schedules. Many customers that used to walk through the door are now minimizing in person contact and handling more of the transaction via the internet and phone.
This situation begs the question, How am I monitoring what is going on in my business? Do I have access to the critical business information that I need to make decisions right now. Am I having to wait for team members to reach out to multiple people to gather information to create a report that by the time I see it is full of “Stale” information.
We all need to take a moment and make sure we have processes in place to manage key areas of the business no matter where we are. So what do I do NOW.
“What do I do with all this data” and “How do I know what data is accurate?”
Because these questions were asked so frequently, there became an apparent need for a reporting platform that can get the most important information, in front of the right person, at the right time. To maximize your efficiency and profitability, it’s imperative your team operates under this structure. That is why I am such an enthusiastic supporter of axcessa.
axcessa seamlessly connects to your DMS, links your accounting and sales data, and then combines them to deliver your team a simple-to-use and highly accurate version of your most critical information. Additionally, axcessa updates your information multiple times a day, allowing you to have the most up-to-date information precisely when you need it. Your team will have the ability to manage and effectively make the appropriate changes needed to reach your profitability goals. After working with hundreds of individuals in dealerships from across North America, I have found there are a few key reports that change the way they do business. Today, I want to share with you how they can improve your dealership as well!
Report 1: Dealership Summary
The dealership summary provides users with a birds-eye view of the dealership in a single location and can be accessed from anywhere with an internet connection. From this report, you will get alerts on any area that needs your attention and will guide you to a more detailed section that highlights trends that may be causing your store to lose profits. Dealers and managers I speak to, find this report to be a massive time savings tool, as the single location saves them from sifting through multiple reports generated by various departments.
Report 2: Expense Trending
The expense trending report is a powerful tool in the hands of your CFO and controller. This report will alert them to any expenses that are creeping up over time and may be flying under the radar. This will also allow a quick list of every expense so you can evaluate what is still needed. Backed by the expense trending report, your axcessa software will highlight anything that is increasing based on a dollar increase or as a percentage of gross profit.
Report 3: CIT
Our contracts in transit report is one of the most popular reports with F&I mangers and controllers. It has a built-in notes platform that allows for better communication and accountability between departments. Additionally, customers have been able to achieve dramatic decreases in the amount of time it takes to fund. Providing your dealership with a greater cash flow and potentially more sales in the future.
Report 4: Wholesale Profit and Loss
The wholesale profit and loss report allows you to track a deal from the trade-in to the end result of the wholesale deal. Designed to improve the workflow and efficiency of the used car manager and anyone tracking loss or stagnation of cars, this axcessa report can allow you to track which wholesale outlets are performing better for your dealership, as well as complete transparency in your processes.
Report 5: Individual Sales and Service Advisor reports
One of the biggest advantages of axcessa is the platform allows everyone in the dealership to manage their own piece of the business. The individual reports for sales and service advisors allow each employee to see their personal performance over a 3-year period. These reports show them exactly what areas they excel in, while highlighting areas for improvement. These individual reports are critical in driving empowerment and accountability, as well as a critical training tool for new employees.
These reports are only scratching the surface of all that axcessa has to offer. Seeing your data in an efficient and understandable way brings power that you simply have not possessed before. axcessa has been helping increase revenue and accountability in dealerships big and small. In our new WORLD one can not afford to be flying blind, Axcessa will put the important information in front of the right people at the right time. We would love the opportunity to show what it can do in your business as well.