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eContracting

With another shiny New Year on the horizon, are you thinking about giving up unhealthy practices and beginning fresh new routines?  Losing weight, quitting smoking, heading to the gym on a regular basis are top resolutions many of us try to carry out every year. And then there are the business resolutions you make to increase sales, raise productivity, and build a better work/life balance. To help achieve your goals, consider adding tools and systems to your daily processes that will enhance your workflow. 

Make an eContracting Resolution

Category

Compliance

Today’s dealerships contain a thriving ecosystem of technological systems designed to heighten the overall customer experience and optimize sales. 
These systems typically contain different but collaborative software packages.  As new vulnerabilities are identified or reported to the software vendor, updates or patches are released to mitigate issues. Keeping your system software updated continuously through a formal program helps lessen the likelihood of a successful attack. 

Category

eContracting

The connected consumer is now compelled to research and compare vehicles online before setting foot in your dealership. This digital vehicle shopper is drastically altering the buying and selling landscape.

Category

Compliance

A dealer's list of daily to-dos is sometimes longer than the available hours in a day.  In addition to handling numerous requests from a variety of people, attending store meetings, and following up with potential buyers, tasks like compliance obligations can rapidly pile up to an overwhelming level.

Spend Your Time Wisely

Category

Compliance

When you practice daily hygiene, (and let's hope you do) you have a routine for activities like showering and brushing your teeth.
The same concept applies to security or cyber hygiene; creating a system of routines and checks required to preserve your online health.

In recent years, the global marketplace has seen an exponential increase in the number of smartphones and mobile devices in use. These devices are quickly becoming critical for staying connected - not only within our personal lives, but for conducting business outside the traditional walls of the dealership. As these devices become more commonplace, “Bring Your Own Device” (BYOD) policies are being adopted across all types of industries.

With the demanding auto finance regulations in place today, it can be difficult to manage your compliance activities to effectively and lawfully navigate through today’s legal requirements.

Category

Compliance

With advances in technology, devices have become exponentially smaller and more powerful in their capabilities. As a result, portable devices are quickly becoming critical components for adding efficiency and convenience to many aspects of our lives. Whether it is to track our exercise habits, play music, or share information, these devices are designed to connect to a plethora of systems and even our vehicles. As these devices become more common place, we have become desensitized to their use, seldom asking ourselves whether we should be connecting them.

Category

Compliance

According to the Consumer Sentinel Network Complaint Data Book, there were nearly 94,000 auto-related complaints in 2015. With the high amounts of consumer complaints, the FTC and CFPB are on high alert. Is your dealership taking all the compliance actions it should to reduce its risk of a compliance infraction?

Ask yourself these three questions:

There may not be much your dealership can do to avoid disasters altogether, but there are steps that can be taken to minimize damage should an event occur. Take a moment to think about your workplace, do you know what disasters might befall you? If disaster struck do you know what to do? How to contact important resources? Or what systems are important to keep doing business?