August 10, 2010

7 reasons why NAXT helps Senior Executives to boost profitability

During the course of your tenure at your dealership, you have witnessed a significant number of paradigm shifts within the industry. In the 1970’s, we began the shift from American dominated manufacturing to a more global platform; we saw the beginning of the end for some of the oldest and most respected manufacturers caused by consolidation. Since then, we have witnessed some significant up and downside in our marketplaces. We have had some excellent years and some years that make 1979-1980 look like a minor dip in business.

However, one thing that has remained constant, is our hesitance to invest in software and the gains in efficiency we can obtain. Many of our dealerships are operating on a somewhat newer version of the software installed in the mid 1980’s. As an industry, we have fallen way behind the greater economy and we are suffering for it – both financially and from an operating perspective.

Here are a few specific examples of how NAXT will make your daily and long term operations leaner, more efficient and profitable:

1. Greater insight into equipment utilization and profitability

Built-in business intelligence can provide even greater insight into equipment utilization and profitability. You can identify trends with the type of equipment that is sold or rented most often so that you can make sure you have these items on hand and avoid investing in the equipment that isn’t used quite as much.

2. Turn your dealership into the right direction based on true data

Imagine having a daily P&L statement, sales pipeline review that can be sliced and diced by a myriad of dimensions, branch and regional operating reports, equipment profitability, OEM profitability, customer profitability. See an up to the minute cash flow; bank balances; current receivables and payables; value of equipment inventory on hand; value of equipment on order committed and for inventory; current PINS and POPS information; gross rental fleet utilization, etc.

3. Ensure your equipment always brings in money

There are two major reasons why your equipment isn’t bringing in money – either it requires maintenance or your people aren’t sure whether it’s rented or not. You can solve both issues with a strong, integrated dealer management solution. Manage your inventory, including available equipment and the parts needed to keep them in good working order, within this centralized solution in addition to warranties, service contracts, parts availability, and maintenance schedules.

4. Keep your equipment always working

By planning ahead and working with customers, you can schedule the routine maintenance activities that are needed to keep your equipment working properly. You can also use built-in business intelligence and reporting features to identify trends within these activities. Determine accurate service costs, measure profits, and calculate contract purchase options using the real-time data at your fingertips.

5. Up-to-date date throughout the entire dealership

You can have a complete view of each customer including their order or rental history, inventory, and other services provided. Armed with this information, your sales or customer service representatives can access the customer’s account and answer questions on-the-spot.

6. Obtain only one answer to the same question

Today, you are probably utilizing 20 or more software programs that may or may not be interfaced; this leads to the very real problem of getting more than one answer to the same question depending on where you have made the query. Technological advances have rendered architecture like this obsolete and very close to dangerous to the continued operation of your dealership.

7. Fully integrated system connecting all departments

In addition to CRM, NAXT contains all functionality one would expect from an industry leading provider: Finance and Accounting, Human Resource Management, Time and Attendance, Equipment Management, Product Support Management, Parts and Inventory Control, Service, Service Contract and Warranty Management; Equipment Rental Management; Power Systems and project management.