“ If a dealer doesn ’ t currently have a DMS , I don ’ t know how they can survive the next few years ,” said Tim Berman , innovation manager for Ideal Computer Systems . “ Thousands of dealers are not running shopmanagement software at all , or maybe they ’ re using Peachtree ( now called Sage 50 ) accounting software .”
“ In OPE , we still see small family-owned businesses that have operated the same way for years , and many are not operating digitally ,” said Ronnie Coulam , senior digital sales manager for LeadVenture .
You expect people who work for software companies to say that power-equipment dealers need new and better software . But technology has benefits well beyond just boosting the profits of software companies . Retail experts across markets need to look more closely at digital opportunities around them – especially in uncertain market conditions .
An article in Harvard Business Review about a year ago advised business owners to do three things in a slowing business climate . “ Accelerate digital transformation ” was one of those three things . “ The benefits of a well-thought-out digital strategy are well documented : improved visibility of resources and better resource management , enhanced flexibility and organization agility , lower costs , smoother supply chain management , better customer experience ,” and more , wrote Vijay Govindarajan , professor at Dartmouth College ’ s Tuck School of Business .
“ It is not the time to slow digital transformation ,” he continued . “ It ’ s the time to accelerate it . The volatile environment is throwing up more challenges that can best be addressed by digital transformation , as well as opportunities that facilitate digital transformation .” He points to traditional retail companies and says that digital transformation can help retailers “ identify shopping patterns , understand buying behaviors , adjust promotions and special offers , personalize product recommendations , tweak pricing on the fly , and balance supply with fast-changing demand and customer preferences .”
If a dealer doesn ’ t currently have a DMS , I don ’ t know how they can survive the next few years ... Thousands of dealers are not running shopmanagement software at all .
TIM BERMAN INNOVATION MANAGER , IDEAL COMPUTER SYSTEMS
A Flyntlok customer dashboard includes a lot of “ digital exhaust ” data , like predictive parts needs , an integrated CRM with contacts for follow-up , adaptive searching , a
“ word cloud ” of relevant terms , and more .
If a clipboard and pencil , or whiteboard and marker , are important tools in the operation of your dealership , you should keep reading . Digital technologies can improve the efficiency and profitability of your service shop , your sales team , and your overall business operation . Here ’ s how .
Business Operations Transformed “ When I talk about digitization of the space ,” said
McLaughlin , “ we ’ re designing a system that mines data . The first step is getting the digital exhaust . McLaughlin defines “ digital exhaust ” ( the term was new to me too ) as all the data that follows a person ’ s online shopping activity . “ All the clicks are meaningful , especially when you apply machine learning to it . But OPE dealers are not optimized to use that digital exhaust .”
At McLaughlin ’ s dealerships , he says he has “ about 100 business entities in our system ” – that ’ s customers who have purchased from him . “ We know what every customer has purchased before , and we can use that to predict what they will need next . We can rank probabilities on that ; their digital exhaust improves our system ’ s predictive learning .”
McLaughlin ’ s Flyntlok software incorporates an “ item genome ” feature . “ The genome gets data from us and all the manufacturers , with specs and applications and photos – all the info we can acquire . This information used to come from manufacturers on ‘ price tapes ’ and some dealers still call it that . This is the fundamental digitization of data .” The software will ingest that data from a manufacturer , McLaughlin explains , “ and every time a customer or dealer interacts
www . OPEBusiness . com December 2023 OPE Business 21