The Answer to Better Collaboration Between Dealers and Funders 

The Answer to Better Collaboration Between Dealers and Funders

In the fast-paced world of dealership financing, effective collaboration between dealers and funders is crucial. Yet, this collaboration is often hampered by a critical challenge: the lack of clear and actionable insights. The absence of real-time, accurate data can lead to misaligned expectations, inefficient operations, and missed opportunities.  Funders need to have confidence in the…

Read More

Tackling Discrepancies: Your Guide to Effective Follow-Ups Post Floorplan Auditing

Your Guide to Effective Follow-Ups Post Floorplan Auditing

In our previous discussion on creating an efficient audit plan, we highlighted the importance of floorplan auditing to ensure that assets are accounted for and in the expected condition. However, what steps should be taken when discrepancies are unearthed during these audits? Addressing these issues promptly and effectively is crucial to maintaining the integrity of…

Read More

Optimising Inventory Management in Automotive Floorplan Funding Through Data Analytics and AI

Optimising Inventory Management in Automotive Floorplan Funding Through Data Analytics and AI

The efficient handling of inventory is paramount in the arena of automotive floorplan funding. Here, funders finance vehicles held by dealerships, making it crucial for both parties to optimise cash flow, minimise operational expenditure, and mitigate associated risks. Conventional methods of inventory management, reliant on manual audits and paper-based records, are increasingly seen as inefficient…

Read More

How Regular Floorplan Audits Protect Dealers and Lenders

Inventory is the lifeblood of an auto dealership. Having the right vehicles on the lot to showcase to customers is critical for sales. Most dealerships rely on floorplan financing to fund the acquisition of their vehicle inventory. This involves receiving a line of credit from a lender to purchase vehicles, with the vehicles themselves serving…

Read More

How Digital Inventory Auditing Supports Your Wider Digital Transformation Strategy

In a business landscape characterised by continual evolution, the necessity to adapt and innovate has never been more pressing. Digital transformation – the integration of digital technology into all areas of a business – is no longer a mere option; it’s an imperative for survival. Here, we explore a relatively niche, yet transformative facet of…

Read More

The Power of Effective Communication: 10 Tips for Successful Dealer Self-Auditing Programme Implementation

Implementing a dealer self-auditing programme can bring significant benefits to both lenders and dealerships. However, clear and consistent communication is vital to ensure a smooth and successful implementation. This article focuses on the crucial role of effective communication strategies when deploying a dealer self-auditing programme. By understanding the importance of communication and adopting best practices,…

Read More

From Hacking to Auditing: How Penetration Testing Principles Can Help Improve Your Floorplan Funding

From Hacking to Auditing: How Penetration Testing Principles Can Help Improve Your Floorplan Funding

For wholesale risk professionals, business risks appear in various guises. Two processes that can help mitigate these risks are penetration testing and vehicle inventory auditing. While seemingly disparate, these assessments share surprising parallels that are useful in risk management strategy. Identifying Security Weaknesses Penetration testing involves simulating an attack on a computer system or network…

Read More

DataScan Launches uVerifi, a Revolutionary Digital Auditing Tool for Wholesale Lenders in the USA and Canada

CheckVentory partners with DataScan

DataScan, the leader in providing solutions for wholesale asset financing and inventory risk management, has partnered with CheckVentory, an innovative software-as-a-service provider, to bring uVerifi, a game-changing digital auditing tool, to the US and Canadian markets. With an exclusive agreement for North America, DataScan will be the go-to provider of this cutting-edge technology. uVerifi is a…

Read More