As the world approaches the year 2020, it seems we’re finally gaining some much-needed perspective on the role of automation in the workplace. Robots aren’t taking our jobs. On the contrary, digital tools are enhancing human workers’ ability to do best by our organizations and customers.
Consider a dealership’s F&I department, for instance. Dealers who automate their F&I processes are eliminating excessive paperwork and closing deals faster for customers. The benefits don’t end with convenience. As Automotive News reports, “[d]igital tools in the finance and insurance office have made dealers more efficient and more compliant.”
But remember: robots can’t replace humans. To improve F&I efficiency and compliance, dealers need to ensure their technology is a) well-integrated into their organizations, and b) supported by smart, capable professionals trained to use the technology properly.
To illustrate this point, the Automotive News article shares a story from Ritch Wheeler, VP of training at American Financial & Automotive Services Inc. Wheeler recently saved an F&I manager using a digital desking tool from a serious headache—a headache some of our clients have had firsthand experiences with:
“The store had to update its printed buyers’ guides on vehicle windows, but the dealership had failed to do so on the digital copies. Wheeler had caught it before the dealership ran into any trouble and helped fix it.
Improperly displayed buyers’ guides—which say whether a vehicle is being sold as-is or with a warranty, and advise shoppers accordingly—was one of the three most commonly identified compliance problems during audits last year of clients of KPA, a risk-management software company.
The other top problems were customers’ sensitive information being left out in the open and Monroney stickers missing or being improperly displayed.”
This is one example of why training and software need to go hand-in-hand. Fortunately, automated tools have a way of encouraging accountability. That’s according to KPA’s own senior manager of product innovation, Trevor Stage.
“What the compliance management system offers dealerships is not only to point out where the dealer may be putting itself at risk, but also highlight the peak performers,” he said.
Read the full story.
Automation is still relatively new to the world of F&I. Powerful as they are, digital systems can’t substitute for proper employee training and management. As the article puts it, tools are “only as good as the people using them.”
When you work with KPA, you not only gain an industry-leading F&I platform, but ongoing support and guidance for keeping your workforce accountable. Learn how we can help you limit your dealership’s liability from first contract to close.
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Time to button up your sales F&I department. Start with this eBook.