In the automotive landscape, there are many paths to get from start to finish in the transaction process of a car purchase or lease. In our world we call it desking and menu presentation for purposes of clarity. Anyone that has been directly involved in or even on the sidelines of this chaos in a dealership operation has to know many tricks of the trade to move with some efficiency around various software platforms, internal processes and data inputs to get a customer through the entire process of a car purchase.
As much as these independent software tools have evolved, iterated and in many cases improved – there is still the challenge of these independent systems not integrating with one another or a more seamless process. The result: A perpetual negative connotation to the car buying process – caused by time (see sidebar on the right).
In the 2018 Cox Automotive Car Buyer’s Journey study conducted with IHS Markit, the satisfaction rate for the process time of an automotive purchase was at a staggering 46%. The key take away from that area of the study is the customers expectations. Simply put, the customer may be well aware that the purchase of a vehicle can be complex – but it still takes longer than they expect. Their expectations are shaped by efficiencies all around them from acquiring a mortgage to having groceries show up at their front door – and it is all centered around time.
The strongest story told about our passion and mission in the automotive landscape is best told by time. Time is the catalyst of our creation and continues to be the focus area of our development and integrations strategy.
Let’s compare and contrast the traditional car buying experience to illustrate how our clients spend their time vs a traditional process without our platform.
A2Z Sync Process: Concept conversation and wants & needs – Rarely done in a traditional store but takes 2-3 min in A2Z.
Vehicle Search – Traditional store: Walking around the lot to pick a car, looking online store by store to see inventory by inventory can take 20 min-several hours. A2Z Sync – search your entire dealership or dealer groups inventory and not just rooftop by rooftop inventory at one time- depending upon client can take 5 min-20 min.
Trade Appraisal – A2Z Sync: Presenting to the client in a way in which the appraisal process is described, interactive,transparent and quick through an integration with the appraisal tool. Following this process limits issues with trade numbers and moves the transaction quickly without the traditional issues of trade numbers. Increases speed and gross. Traditional Store: Manager takes keys and reviews books on average 20-35 min process without client interaction with trade numbers delivered and typically where negotiations begin costing gross and time.
Desking – A2Z Sync: Walk your client through the payments along with you as each change occurs, compare payments without disappearing to talk to your manager. The manager can control the desking process behind the scenes and in customer view. No need for hard negotiations, transparent, easy and creates a culture of a well educated team which clients react positively to in CSI scores. Change the culture of your region by clients demanding a transparent process and creates loyalty to your dealer group- increases speed of transaction, gross and overall client/employee experience. Traditional store- Typically takes anywhere from 20 min- several hours based upon your management teams motivation on getting the deal done and negotiation time- back and forth hassle with client.
Credit Approval on a Finance Transaction – A2Z Sync: Submit a credit application seamlessly through our app in front of your client. No need to get up and visit a manager. For challenging credit typically takes 1 hour max 2-3 depending upon scenario. Traditional Store: Need to find a sales manager or finance manager to submit deal. If client didn’t fill out app properly have to take back to client to adjust. If sales person didn’t know to get 3 yrs employment or 3 yrs residence & or get gross income etc creates lag time in getting credit pulled or submitted typically takes 20 min- 1 hour. For challenging credit up to 3-6 hours
Menu Presentation – A2Z Sync: No need to re-input data and restructure the menu. It’s already here and ready to respond. Provide options and create client’s personalized package based on their own needs. Can have sales staff or finance manager do this part of the transaction. Typically takes 20 min. Traditional Store- Finance manager receives deal and has to input all data and create menu- typically takes 30 min – 1 hour
Form and Contract Generation: Final process though the application. Print the aftermarket contracts immediately following the menu without having to go to separate vendor websites or another application. Lower your chargebacks by reducing the re-entry. 2-3 min versus 15. Dynamically know which forms apply to a car deal and type of vehicle and save money by not having to pay for inhouse forms. Storage provided.