It's no secret that dealerships are embracing automation at unprecedented levels.
Significant changes in the operating environment and within the auto retail ecosystem — such as the rise of new mobility concepts, shifting mobility preferences, digitization, and regulations — are forcing automakers and dealerships to rethink their retail strategies.
Customers are also increasingly able to access desired information across channels easily. Thus, automakers and dealerships need to grasp the opportunity to transform their retail frameworks to deliver a rich brand experience through seamless integration across all customer-facing channels. Challenges such as how to shift from a product-driven to a customer-centric approach and how to offer mobility services based on value propositions instead of ownership are being addressed across the board.
What Is Advectus?
Since its inception over 35 years ago, industry-specific DMS software has evolved from a foundational tool to help dealerships manage their day-to-day business activities into a versatile, comprehensive platform that keeps companies relevant. Advectus goes a step further by leveraging ERP functionality to create a robust suite of DMS solutions for Sales, Service, Parts, CRM, Reporting, Financial Management, and Distribution.
By centralizing these processes, Advectus provides better intradepartmental cooperation and increases efficiency. Not to mention, you only have to remember one login, which is a time saver and reduces headaches. Other features and benefits include:
- Customer Dashboard, with insights into payment history, collections, survey results, service history, details about the last and next contact, and client value.
- Sales Tools that are adaptable to best-practice processes, facilitate quick shifts in sales strategies, offer flexible payment calculations, include prospect scoring and risk management features, incorporate vehicle management tools, and generate comprehensive sales reports and KPIs.
- Real-time Data anytime, anywhere, on any device, including key performance indicators (KPIs) such as deals, returns, bad debt, and collections, with the ability to drill down into transactions and access comprehensive customer and vehicle records, all within a unified data model.
- Collections Capabilities, including vehicle receivables, GPS status, insurance status, email and task templates, and customer communications on a unified dashboard.
-
Risk Analysis/Underwriting Services: score prospects' ability to pay, recommend deal changes to mitigate risk, use criteria based on local market needs, require management approval for deals, and operate with weighted parameters.
What Is NetSuite?
The company’s ERP system manages core functions, including finance and accounting, inventory, orders, and procurement. Customers can add options, including CRM for sales, service and marketing automation, human resources (HR) for personnel records, performance management and payroll, professional services automation (PSA) to plan and track projects, and omnichannel commerce for both online and in-store sales. All of these modules share a common database. Due to that central data source, information from across the system is updated in real time and is accessible to authorized users across business functions.
- Unified View: Dealerships can manage their entire business from one platform, integrating finance, supply chain, manufacturing, HR, and e-commerce into a unified system that employees can easily access.
- Native Integrations: With native integrations, you can seamlessly share and retrieve data from a central database, eliminating the need for unreliable third-party integrations and reducing training time through a consistent user interface across modules.
- Cloud Capabilities: Unlike many "cloud" ERP systems, NetSuite is a true cloud solution built from inception, offering scalability, frequent updates, and freedom from version lock, supporting continuous growth without the limitations of traditional software.
- Reporting/Analytics: NetSuite leverages extensive data flow to provide robust reporting capabilities, including comprehensive reports and role-based dashboards.
- Built-In Flexibility: NetSuite’s built-in flexibility accommodates diverse industry needs by allowing customization through SuiteCloud apps, ensuring scalability, whether for multinational enterprises or startups and adapting effortlessly to unique business processes and structures.
Benefits Of Integrating Advectus & NetSuite
By connecting Advectus with NetSuite, dealerships gain numerous benefits, such as smoother operations, less manual work, and more accurate data. Combining systems and automating processes helps cut out unnecessary tasks, saving significant time and costs. Here's how it can help:
Remove information silos
Your dealership may generate data at a rapid pace, but managing it all can be complicated without a unified system. Processing purchase orders via different software, for instance, may take longer to complete because it involves forwarding documents to multiple departments, people, and software. Also, segmented systems mean your staff often has to enter the same data more than once, which only increases the likelihood of errors.
Integrating with Advectus makes your company run more efficiently by consolidating your data in a central location. This way, staff will have access to data that’s consistent across the company.
Reduce costs
A fully integrated system reduces the costs associated with managing multiple disparate software. For one, there’s less upkeep and troubleshooting involved when your enterprise applications are working as one cohesive unit. Employees don’t have to waste their time on tedious data entry and retrieval thanks to Advectus. Finally, integration with a cloud DMS reduces paper usage and server costs because files are stored in remote data centers that have practically limitless storage space.
Increase security
Siloed software applications are also particularly concerning from a security perspective. Data access privileges are much more difficult to control between platforms, which often means your company will need to invest in more security measures to ensure the privacy and integrity of your documents. Failure to do so can put you at risk of data leaks and noncompliance with industry regulations like PCI DSS.
Integrating your systems into DMS is critical to better security and compliance. By keeping everything in a central repository, it’s much easier to keep an eye on your data and set access restrictions.
Enable workflow automation
The best part of a unified system is that it lets you automate various processes. Instead of manually distributing documents between relevant staff members, you can design workflows that route documents to the right people and remind them what to do. For example, incoming invoices captured by your DMS software feed data directly to your NetSuite platform so they can be approved and paid on time. You can even automate the many tedious processes that go into client onboarding and order processing when you combine NetSuite with Advectus.
Gain robust insights
A centralized database doesn’t just make it easy to manage files; it also lets you derive meaningful insights. Advectus stores a rich collection of financial information, order details, client records, and other documents that can be used by ERP and CRM systems to generate comprehensive reports. Data can be used to track sales performance and customer purchasing habits in real-time so you can identify potential revenue-making opportunities. Meanwhile, access to financial records and customer data lets you forecast company growth and make informed strategic decisions.
Detailed Analysis of Cost Savings and ROI Improvements
Cost Savings
The integration of Advectus with NetSuite leads to direct and indirect cost savings:
- Reduction in Labor Costs: Automation of routine tasks reduces the need for manual labor, leading to substantial savings in employee salaries and benefits.
- Minimized Errors and Rework: Accurate data synchronization reduces the likelihood of errors, saving costs associated with rework and corrections.
- Optimized Resource Utilization: Better visibility into operations allows for more efficient resource allocation, reducing wastage and improving productivity.
Operational Improvements
The integration drives several key operational improvements and ROI benefits:
- Streamlined Workflows: Automated processes reduce bottlenecks and improve the speed and efficiency of operations.
- Clear Decision-Making: Access to accurate, real-time data fosters better strategic decisions and more effective planning.
- Scalability and Flexibility: The integration provides a robust platform that can scale with business growth, accommodating increased volumes and complexity without requiring significant additional investment.
Explore A NetSuite & Advectus Integration
While the DMS has been a common component of car dealership technology for many years, its current role within the dealer tech ecosystem is evolving. As a Distributor, integrating your DMS with your ERP makes it one of the top strategic technology integrations that today’s dealers are investing in. As you consider technology investments that will set your dealership on a course for long-term success, it’s critical to assess an existing or potential new DMS through the lens of its future role as a system of fulfillment, insight, and engagement. A NetSuite Advectus integration is the most powerful investment you can make to keep yourself on par with the pacing changes in the industry.
For more information on how this integration can benefit your business, contact us today.