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As one of the most highly regulated industries in the country, automotive dealers and service companies are burdened with an overwhelming amount of paperwork - from managing customer deal jackets, vendor files, inventory and parts delivery, to safely and accurately handling employee records, accounting files and service orders - not to mention stringent audit and inspection requirements, FTC Privacy Rules and ISO compliance.
But there is a better way to efficiently and securely store all the necessary paperwork while maintaining regulatory compliance: Document Management Solutions. Document Management Solutions are sweeping the auto industry for good reason. Systems have progressed from simple scanning and archiving to business process automation. And that’s changing the way the automotive industry works – reducing the reliance on paper systems and delivering ROI with cost savings, greater efficiency, and improved customer service.
So, why invest in Document Management Software? Here are a few solid reasons:
Efficiently Store, Access & Route Documents
Gone are the days of yellowing files crammed in file cabinets. With Document Management Software, all business critical documents like repair orders and histories, customer service invoices and credit applications, warranty records and manufacturer documentation can be scanned into the electronic system then indexed, archived and stored indefinitely (and deleted in accordance with a retention schedule). Using automated workflow documents can be routed to the right person and location automatically – ensuring timely processing of invoices, consistent notification of policies and streamlining approvals and signatures. All documents – regardless of age or source, can be stored for access anytime, anywhere. Time saved on paperwork can be time better spent on improving operations and making sure customers are being attended.
Quickly & Securely Retrieve Files
Unlike paper files, document management systems manage data in a secure, central repository that is easily searchable via a web-based interface on any internet–enabled device. Documents are current so all employees are working with the same information. With real-time visibility, employees no longer need to leave the bay or front desk to search for paperwork – creating efficiencies and labor cost savings, as well as the space and archival storage savings, which can add up to thousands per year.
Maintain Regulatory Compliance
Auto dealerships need to securely retain sensitive customer data like financial records, driver’s licenses and applications. With permission settings, access is granted to only those with the security settings to do so – ensuring data is protected. Audit trails are automatically created without having to store paper copies in multiple locations. Businesses can also easily apply and automatically enforce document retention policies, including document freezes or auto-destroy capabilities.
Advanced analytic and reporting capabilities ensure managers are apprised of performance in all areas – from finance and operations to quality control and customer satisfaction. Managers can instantly access key information and collaborate on the go via mobile devices. By integrating document management software with current invoicing, AP/Payroll and dealer management systems, dealers can eliminate the time consuming duplication of work and reduce costly financial and regulatory errors.
Improve Customer Service
Instantly access a customer’s automotive history from any front desk, back office or in-shop computer or internet-enabled mobile device to improve customer wait times and increase the accuracy of information for mechanics, salespeople and customer support reps. For multi-site dealerships and service organizations, instant access across all physical locations gives your business up-to-the-minute information about a customer’s entire record – ensuring prompt response times and consistency across your entire enterprise.
The time for the automotive industry to reap the benefits of document management software is now. From sales and service to parts, inventory, accounting and customer service – the answer lies in better management of the increasing piles of paperwork that are taking up time and tying you down.
Read more about how document management software can save you time and money by downloading our complimentary whitepaper:
According to the report, the average office spends $11 to process a document; $20 to file a document; $120 to find a misfiled document; $220 to reproduce a lost document. A four drawer filing cabinet costs over $2,900 per year to maintain! Download the report to learn more.