As we all know, the world of retail is swiftly changing, and the vehicle F&I industry is not immune to the ongoing shift. Vast changes in technology have empowered more consumers than ever before to begin the vehicle buying and financing process themselves, on their own devices and timeline.
In 2017, news of cybersecurity threats to personal and business information systems across a wide variety of markets dominated headlines. From credit bureaus to higher education, government, banking, retail, non-profits, automotive and utilities, no industry escaped malicious actors and threat agents intent on accessing sensitive data.
With another shiny New Year on the horizon, are you thinking about giving up unhealthy practices and beginning fresh new routines? Losing weight, quitting smoking, heading to the gym on a regular basis are top resolutions many of us try to carry out every year. And then there are the business resolutions you make to increase sales, raise productivity, and build a better work/life balance. To help achieve your goals, consider adding tools and systems to your daily processes that will enhance your workflow.
Today’s dealerships contain a thriving ecosystem of technological systems designed to heighten the overall customer experience and optimize sales.
These systems typically contain different but collaborative software packages. As new vulnerabilities are identified or reported to the software vendor, updates or patches are released to mitigate issues. Keeping your system software updated continuously through a formal program helps lessen the likelihood of a successful attack.
The connected consumer is now compelled to research and compare vehicles online before setting foot in your dealership. This digital vehicle shopper is drastically altering the buying and selling landscape.
A dealer's list of daily to-dos is sometimes longer than the available hours in a day. In addition to handling numerous requests from a variety of people, attending store meetings, and following up with potential buyers, tasks like compliance obligations can rapidly pile up to an overwhelming level.
When you practice daily hygiene, (and let's hope you do) you have a routine for activities like showering and brushing your teeth.
The same concept applies to security or cyber hygiene; creating a system of routines and checks required to preserve your online health.
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.