Is Your New Employee Onboarding Program Working Properly? At the heart of every operation is the people. Your operation is truly only as great as the people who embody the mission and values of your company. There is nothing more powerful than a team member’s passion and drive to make....
Have you ever torn your office apart looking for that critical loan document or bankruptcy letter needed for a hearing? How long did it take you to find that document? Situations like these are commonplace in the workplace and dealership. Dealerships of all sizes have so many moving parts. It’s....
Today’s markets have seen historic levels of inflation. The global economy has helped to link nations and markets together for better and for worse. BHPH dealerships are not immune to global events. Consumer spending trends have certainly shifted from a luxury to a needs-based approach to spending. Less inventory is....
Whether you are just starting a dealership or have been in business for years, you have to consider if your current dealer/lender management software is working to its potential. With a plethora of solutions in the industry, looking for a system that fits your operation’s needs is a process in....
Credit reporting is the foundation of the modern financial infrastructure. Since a consumer’s past behavior is the most telling sign of how they will repay debts in the future, credit reports with detailed histories provide other lenders with vital lending information. The three major bureaus, Equifax, Experian, and TransUnion collect....
The last few years have not been easy for customers, let alone dealerships. Covid, historic inflation, and the threat of a possible recession are constantly on everyone’s minds. After all, the relationship doesn’t stop when the deal is posted. Quite the opposite, it is just beginning! Now more than ever,....
The laws surrounding how we should collect and use personal data about individuals is set to change very soon. And that’s big news for car dealerships, large and small. The original Standards for Safeguarding Customer Information took effect in 2003 but the FTC amended it in 2021. These latest changes....
Ben Franklin once said, “In this world nothing can be said to be certain, except death and taxes.” While we in the automotive IT industry certainly cannot do anything about the latter that Mr. Franklin stated, we can sure try to ease the burden of taxes. Specifically, how to keep....
Customer-facing roles like sales and marketing, are usually considered the ‘front-office.’ Roles that don’t interact with customers, like accounting, HR, operations, and others are considered ‘back-office.’ The back office may not be the most exciting part of your company, but it’s actually a crucial component to a well-run business. The....
It seems like the economy is all over the place these days. This time last year, demand was out-pacing supply with consumers spending like never before due to a post-COVID rebound. The subprime auto industry was on fire as people scrambled to buy whatever vehicle they could get their hands....