Posts about:
Consumer data handling has become increasingly regulated in the past 5 years. We've seen a growing number of legislative requirements regarding consumers' rights over their data and increasing concerns surrounding privacy and cybersecurity that have reached a fever pitch, with no end in sight.
Automotive retail is transforming before our eyes, digitalizing the way everything is done in the dealership. It seems like everyone in the industry is working at a breakneck pace to shape the digital future in their interest. What isn’t clear is who will be in the driver’s seat, defining how the digital future will turn out.
Driven by COVID lockdowns, our industry is in the midst of an urgent rush toward long overdue digitalization. The transformation taking place is like nothing seen before in our lifetimes. No aspect of the way cars are sold or serviced will be left out. At the core of these digitalization efforts is the integration of the various systems that manage retail operations. The modern North American car dealership today uses between 10 and 20 different software systems to run its business. The digital dealership requires that they all work together seamlessly. The implication is clear: every dealer system provider - DMS, CRM, service management, inventory management, etc - must either provide easy integration with their systems or be left out of the digital future.
Customer Relationship Management (CRM) software is designed to help companies manage their many customer relationships in an effort to improve overall profitability. According to a report by Grand View Research, the global CRM market is expected to reach over $90 billion by 2028.
Dealerships leverage many types of business management tools including CRMs and Dealer Management Systems (DMS). The challenge is getting those robust systems to talk to each other in real-time.
As every OEM knows, the automotive industry is operating in a dynamic and challenging environment. For future-forward firms, this environment is an opportunity to innovate. In particular, analytics, advanced integrations, and one-to-many API value chains are areas of real potential for firms who want to differentiate themselves. s every OEM knows, the automotive industry is operating in a dynamic and challenging environment. For future-forward firms, this environment is an opportunity to innovate. In particular, analytics, advanced integrations, and one-to-many API value chains are areas of real potential for firms who want to differentiate themselves.