What makes a great Dealer Management Software (DMS)?

By Anjelica Baker - October 21, 2020

Dealer software is a program developed to create, edit, store, search, extract, automate, and maintain database files and records. A capable dealer management system (DMS) helps enterprises in enhancing their access to heaps of data generated regularly. The primary purpose of an efficient DMS is to ensure easy access and sharing of data among different stakeholders. What makes a great DMS? How to choose a DMS? Look, for these things:

  1. Multi-User Access Control.

DMS offers the capability to give secure access to multiple users to enhance collaboration and accessibility to data. Consider how user-friendly the system will be for all those members of staff required to use it. In the digital era that dominates most modern industries, information systems play a vital role in providing managers, supervisors, and rank-and-file employees with the tools they need to be more efficient, more productive and more customer-focused. A DMS enables businesses to not only share knowledge but also to draw from the same data, so that operational processes are uniform throughout every department.

  1. Data Presentation.

It is also important to offer the functionality to make data reports visually appealing and engaging. To make the right business decisions, managers need the data collected by the DMS. Rather than simply existing as a DMS, a DMS must offer very specific information such as graphs, reports, scheduling, and predictive analysis so that executives can quickly make decisions without having to dig for more complete data. It is useful to monitor the company’s performance in real time. The DMS may also be programmed to automatically produce reports at monthly, quarterly, or other specified intervals, and may also be accessed to produce custom reports when needed. This reduces manual reporting. If a decision requires approval by a senior executive, the decision-maker can create a brief executive summary for review within minutes.

  1. Accounting

A DMS that performs real-time accounting is designed to store and aggregate financial data. The resulting analyses are used both internally, by managers and CFOs, for example, and externally by consultants, regulators, tax agencies and others. Reports generated by the accounting DMS include profit-and-loss statements, accounts receivable tracking and other financial statements. These reports enable management to analyze the company’s financial health.

  1. Security

The DMS can store and analyze data about all departments and schedule routine backups. It is also capable of automatically restore the database to its previous state in the event of any crash or system failure. This also relates to how to protect sensitive data. Because the data can include private information – names, addresses and Social Security numbers – protecting privacy and maintaining security are paramount. Modern DMS offers multiple layers of data security to keep enterprise information safe and secure. It restricts unauthorized access and provides regular fixes for known and unknown vulnerabilities. Users are authorized to gain access to data as per their authorization levels. Different access constraints are given to different levels of users to safeguard the privacy of data.

  1. Functionality

Deal Pack incorporates numerous business functions into a single DMS. It incorporates functions specific to accounting, inventory management, sales and distribution, supplier and purchase order management and financial resource management. It has real-time accounting which seeks to improve the efficiency and accuracy of financial and cost accounting as well as corresponding financial reports. Implementing financial recording takes place in one DMS which makes accessing financial information faster and easier and can also reduce administrative labor costs. The main objective is to facilitate the day-to-day management of business operations.

  1. Customer Relationship Management.

Customer relationship management (CRM) systems help quantify and qualify the customer experience, as it relates to a business. CRM systems collect customer behavior such as buying trends, types of customer inquiries, and customer subscription accounts. Each customer interaction with a business can provide valuable information not just about existing customers, but also about prospects that call to inquire about a company’s products and services. CRM, or customer relationship management, is a technology-driven marketing process used by retailers to build a strong base of loyal customers and optimize revenue and profit. CRM takes time to develop and implement because companies must gather customer data, analyze it and implement marketing based on their findings. The general purpose of CRM is not altogether new. While CRM itself emerged at the turn of the century, the notion of creating customer loyalty has been around much longer. Collecting and storing data in a database is one thing and mining the data for useful information is another.

  1. Support & Development.

A DMS should offer technical support and robust customer support from a highly trained and experienced engineering team. Constant access to regular statuses and updates on multiple projects are also valuable.

  1. Payment Processing and Integration.

These systems are integrated into the interface that customers use to make payments. Transaction Processing and Daily transactions are the lifeblood of many small businesses, and a transaction processing system allows companies multiple ways to adjust, modify, store, collect, process, and cancel transactions. Next, you connect your data by integrating it with different systems. A DMS becomes a powerful tool one it is integrated with other features because this extends its functionality. With this much functionality in one simple piece of software, you’re able to save a lot of money between interdepartmental teams that may be using 4-5 different tools to do all of this. Deal Pack allows for the aggregation of multiple integrations with numerous third-party tools. There are other technical roles of database management systems in an organization. Organizations can use such systems to ensure that a database reduces redundant data, which can maximize the efficiency of the database’s storage space.

  1. Compliant and Law Abiding

Most commonly, a DMS is used to help ensure organizations can meet compliance regulations and legal requirements. This may happen within Credit Reporting or calculating late charges per customer, per state.

Call into Advanced Business Computers of America today to get a quick demo to experience its features and learn why Deal Pack is the most effective and sought after DMS available.

Inquiries can also be made through our new Chat feature located here: https://dealpack.com/support or call 1-800-526-5832.

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