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 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.

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?

Managing compliance and fair lending requirements can be a challenge. What guidelines does your dealership have in place?