Almost every dealer uses a dealer management system. It is vital to running your business. The more technology a DMS can provide usually equates to more efficiencies and ultimately more profit for your business. However, most DMS lack the technology that is needed to give you the tools to maximize efficiencies in your business. The difference between a DMS and smart DMS can be determined by what the DMS allows you to do.
Smart DMS vs Traditional DMS
A smart DMS gives you the tools that you need to manage your business on one platform. A smart DMS is a platform to process payments, manage and resolve insurance issues, manage collections with AI integration, and manage CPI in a way that you can properly record the payment.
A smart DMS provides built in integration with your gps where you can ping, locate, disable vehicles straight from your DMS. You should have the ability to have enhanced communication streamlining and resolving issues with collections and insurance. A good smart DMS should have a document management system so anything that takes place on the customer’s account from loan documents, insurance to CPI placement, email, texting, collection calls all documented attached and stored on the customer’s account.
A DMS should have AI, to understand the customer’s payment behavior and make recommendations based on previous performance. It should give you the ability to automate processes to maximize time and efficiencies. A smart DMS provides a platform for a better experience for your employees and customers.
In most cases a dealer needs to sign up with five or six technology providers. They need to go into multiple systems or platforms to operate and the only way they can get all of the documentation on one platform is by doubling up on their work. Even then, they do not have the kind of technology to do all the things mentioned. Unfortunately, a DMS to do everything that was mentioned does not exist in the industry.
At least, not until now!
Verifacto’s Smart DMS
Verifacto is a technology-based company. Most dealers are aware of our advanced technology in insurance tracking, managing CPI, and seamless automated customer communication to resolve issues with insurance and collections. Verifacto has created a DMS that brings advanced technology to all aspects of the dealer’s business. Our system is easy to use and has all the technology you need in one system.
So what exactly is Verifacto’s Smart DMS:
A cloud based DMS that enables clients to increase revenue and profit, reduce risk and increase portfolio performance with innovative technology.
Flexible system with modern features that make it easy to deliver a better experience for employees andcustomers.
Built in artificial intelligence that maximizes customer communication.
With Verifacto’s DMS, dealers and finance companies have the tools and technology in one system. Here are a few of the benefits of using Verifacto’s Smart DMS with built in AI:
- Increase cash flow.
- Minimize portfolio risk.
- Increase Efficiency.
- Decrease Operational Expenses.
- Automated customer communication.
- Smart Collection system.
- Increase Efficiency.
- Decrease Operational Expenses.
- Built in compliance check on loans, CPI, collections, and payment processing.
- Full Document Management- loan documents to every interaction with the customer
Take Your Business to the Next Level with Verifacto’s Smart Dealer Management System:
Smart operators understand that increasing revenue and decreasing operational expenses is the key for exponential growth in profit margins. Verifacto’s Smart DMS enables you with the technology you need to do this.
Contact us online or call us at 678-783-8123 to learn more about the system and schedule a free demo.
At Verifacto, we deliver the absolute best in innovative solutions straight to your business.
