Three Tips to Improving your Heavy Equipment Dealership’s Profitability and Efficiency
With an competitive market for heavy equipment, dealerships strive to gain a competitive edge while improving profitability and efficiency.
With an increasing but more competitive market for heavy equipment, dealerships and rental business like yours are searching for a competitive edge that will improve your business and its bottom line. But how do you accomplish this?
Here are three tips to help you improve profitability for your heavy equipment dealership today
1. Improve customer service with more effective communication
Velosio DMS delivers a 360° view of your clients with:
• Vehicle history
• Revenue and payment history
• Service history
• Survey and complaint history
• Contact history & future contact schedules
• Sales quotes & order history
Velosio DMS also allows you to build stronger, more profitable relationships with your clients with:
• Customer service appointment Apps (loyalty awards, communications)
• Mobile inspection apps (fewer errors, real-time results, on-site)
• Streamlines services and parts operations
2. Buy (or rent) the right equipment
How can construction companies approach that key question: Should I rent or buy a piece of equipment? Keeping technology in mind might be an important consideration in the future. “I think it is important to note that we are still very early in technology adoption for the rental market,” said Liam Stannard, CTO, BigRentz in a recent Association of Equipment Managers article. “This is a high-touch business dealing with large pieces of heavy equipment that need to be moved safely and efficiently from project to project. Contractors and suppliers are still learning about how technology such as mobile, Internet of Things and analytics can help their businesses.”
With Velosio DMS, heavy equipment dealerships have vehicle, rental and service history at hand to determine what equipment is the most profitable for your business, and whether you should buy or rent.
3. Connect services/become proactive vs. reactive
The way customers do business has changed. Today, they research equipment and dealership services online using multiple devices – laptops, smart-phones and tablets – while referencing what hundreds of others have said about their sales and service experience with you. Heavy Equipment and Truck clients have always expected a high-level of personalization, and those high expectations are only increasing.
A “one size fits all” customer model no longer works for the modern truck and heavy equipment dealerships dedicated to delivering the optimal customer experience. Siloed departments unable to share customer information leave clients disappointed. Yesterday’s technology, never designed for today’s heavy demands, is unable to keep pace.
A new generation of DMS is needed that adapts to your best practices vs. adopting rigid requirements dictated by limitations of a legacy DMS.
Breaking down tradition silos and using modern technology…
that adapts to your needs improve, efficiency and productivity, and can help predict and overcome future challenges. A modern heavy equipment dealership solution provides mobility, versatility, scalability and productivity to help you grow. Equipping field staff to execute tasks while staying connected to the back office can sharply increase service efficiency, reduce overhead and errors, and improve customer satisfaction. Make sure your employees have what they need when they need it to better serve customers and more accurately across your locations.
Velosio DMS is a modern end-to-end cloud solution for heavy equipment dealers. Built on NetSuite’s powerful business management platform, Velosio DMS automates sales, service, parts, financial management, reporting, CRM and distribution.
Get the full picture by checking out this video.
Best regards,
Hersch Patel, CPA.CITP
Managing Director, Consulting Services,Velosio
About Hersch
Hersch Patel, CPA.CITP, is the Managing Director of Consulting Services for Velosio. With more than 19 years of experience in the areas of management consulting, managing and leading business applications implementations, Hersch has an indepth understanding of business strategy, business process, business development, and system control design. He specializes in leading teams which plan and execute business technology projects for the purpose of reducing costs, increasing revenue and improving efficiency. Many projects Hersch and his team lead enable individual clients to realize millions of dollars in cost savings annually. Hersch has also traveled across the U.S. and internationally, leading implementations of business applications and management consulting projects for numerous clients from small businesses to Fortune 500 companies.
Hersch has a Bachelor’s Science degree in Business Administration with a specialization in accountancy from Miami University, and is based in Cincinnati, Ohio.
