Dealer Management System – The Definition
A dealer management system is software that helps dealers manage their dealerships. Dealer management software allows a dealership to perform day-to-day functions that the dealership encounters, such as finance operations, sales operations, services, and more. To make all these functions work together in an organized manner, a dealer management system is useful.
With the implementation of dealer portal management software, dealers can improve each aspect of their business on a unified platform. With all the regular transactions a dealership faces, one can easily operate a business. You do not need to log in to separate solutions to manage inventory, view service history, or create sales invoices.
Based on software integration in the Dealer management system, dealers can manage their businesses in a single cloud dealership software application. This allows business entrepreneurs to track down all the dealership operations and see the big picture more.
The in-built integration software allows for the easy-to-use exchange of information between all operational areas of the dealership.
Common Features Helpful for Dealer Management Software
The DMS features may vary between systems, but there are a few standard capabilities that DMS software should have. Following are the capabilities below to give you a better idea of what to look for when considering a dealer management software system.
General Management
When it comes to general management, dealer management software has features that manage all your locations, divisions, and business processes. The following benefits will enable your dealership to manage business processes:
Allow employees to access all the information easily
Allow dealers to build custom reports in a few clicks
It allows to access live management dashboards and reviews real-time performance
Accounting
A proper DMS will allow you to automate all the accounting areas, right from sales to inventory to transactions. Some of the features of the accounting module.
Quick access to financial reports allows you to communicate with employees and managers across all departments.
Monitor actual performance, build operating budgets, and view the profitability of a particular department.
Automatically develop transactions relevant to sales
Recall information for better customer experience
Service Management
A DMS with service management functionality increases the efficiency of your department. It gives a clear view of your dealership’s service program, allowing you to prioritize work orders and deadlines. Additional features include:
Streamline service write-up process
Schedule of service work to maximize billable hours
Allow technicians easily clock in and out easily
Allows efficient repairs and monitors warranty claims
Rentals
A good DMS will provide your dealership with absolute fleet analysis, allowing complete visibility of what’s occurring with each of your rental units. Some metrics a dealer management software should have to help you track and assess your fleet performance are cost of ownership, efficiency analysis, historical trends, and cost per hour.
Salesforce and Customer Management
Sales and customer management will help your sales team to maximize the closed deals. A dealer management system should provide your sales team to:
Show customers high-res photos of units and products.
Access real-time information about work orders, and dealer-installed. options.
Access up-to-date customer information from smartphones.
Easily build and sell order units with standard features.
Reporting
The reporting elements of a decent DMS will be able to follow dealership data for all divisions, identify inefficiencies in your dealership, and generally let you maintain a broad perspective of your dealership operations. Most systems have advanced reporting highlights that permit you to quantify your dealership's KPIs and find out how the business is doing in contrast with different competitors across the country. The reporting module provides:
Cloud Hosting
Cloud hosting offers dealerships access to cloud systems instead of using on-site servers. Cloud hosting has the following benefits:
It saves your dealership capital on maintenance, server replacements, and electrical power.
It removes the extra time spent on software updates, or parts replacement which are crashed.
It allows accessing data from anywhere as no on-site server is needed.
IT Support
The vendor should provide a secure environment for your hardware and software to resolve complex technical issues. When it comes to IT support, make sure dealer management software does the following:
System updates appear without the intervention of the dealer.
IT support should be consistent to keep your system working properly.
All the data is backed up automatically.
How to Choose the Right Dealership Management Software?
There are numerous generic software platforms to look over that can address various aspects of your business. However, these general software solutions manage only a single aspect of your business, such as accounting. So, you end up paying for multiple systems that may or may not best fit your dealership.
To pick the right DMS, think of a few questions to get the ball rolling on whether or not to implement a DMS system. It is essential to know what your dealership’s goal is. If your dealership plans to extend to multiple locations, then you may need a DMS that can update the inventory across all locations. You should determine your needs as a dealer. A dealer’s need depends on what goals they are carrying.
Should you Purchase Dealer Management Software?
Investing in the right management software is not a task that you should take lightly. There are several things to consider, such as upfront costs and your probability of business expansion to multiple locations. The right DMS lets you manage all aspects of your business effectively.
Why Choose Solvios Technology for Dealership Management?
When you explore the market for the different dealer management systems available, there are a lot of systems that provide similar functionality. The important question arises: will the company provide you with the complete support you require?
That's where we want to highlight ourselves because our customers are important to us. Our customer support team cares about your business objectives and the challenges of dealership operations.
Helping customers and delivering the best is what drives us as a dealer management software provider. And we continuously work to find ways to improve our systems to your dealership's advantage.
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