Are Your Risk Management Policies Sufficiently Refined?

floorplan funding risk

Do you have the detailed information you need to make the right decisions? Floorplan finance is commonly used in the automotive industry by dealers to purchase inventory. However, there can be a fair amount of risk for floorplan finance lenders since they don’t have complete control over the vehicles on which the loan is secured.…

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Wholesale Funders: Improve Your ESG Credentials and Reduce Your Carbon Footprint

carbon footprint

As a responsible and forward-thinking automotive financing company, you will be looking for ways to reduce your carbon footprint and improve your ESG credentials. You may already have some initiatives in place, such as recycling or using green energy, but there is potentially more that you can do. This article will discuss opportunities for funders…

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The Internet of Things: An Accelerating Opportunity

internet of things

The Internet of Things is a rapidly growing opportunity for businesses and investors alike. With an estimated 27 billion devices expected to be connected to the internet by 2025, IoT is changing the way we live our lives. There are endless possibilities for what the Internet of Things can do. It’s not just about connecting…

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Accuracy is Critical for Stock Management

Ensuring an accurate and precise inventory is critical for success A vital issue for auto retailers and their funding partners is effective stock control. With vehicles selling, and stock changing fast, it can often be the case that systems aren’t always kept up to date, and the vehicles are not where they are thought to…

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Digitisation of the Vehicle Audit Process

Digitisation of the Vehicle Audit Process

We conclude this short series (you can read the previous articles here and here) with a detailed examination of how one particular aspect of dealer businesses, vehicle inventory management, is being transformed through digitisation and the use of artificial intelligence. Traditionally, inventory audits have been carried out manually, often by trained auto finance provider staff,…

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Modern Dealer Audit Technology: the Evolution of Dealer Self Audits

dealer audit technology

The COVID-19 pandemic has further accelerated the adoption of technology-enabled audits by funders, with travel restrictions limiting the ability for auditors to visit dealership sites. However, for some time before then, funders increasingly recognised that traditional, paper-based manual audits are no longer enough, with many floor plan funders exploring new technologies to support the audit…

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Creating Your Stock Audit Plan: What to Check Before You Start

stock audit plan

Deciding to create a new stock audit procedure is not an easy one. Even if you’re upgrading an old framework, numerous options may influence the quality of your future audits. As a result, careful planning may save you time and money in the long run by streamlining and improving the efficiency and accuracy of your…

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Stock Control as a Strategic Issue: Flexible Funding

Gone are the days when dealers relied on their own capital or regular bank lending to stock their forecourts. As competition has increased, business owners have looked for more flexible ways in which to fund a larger number of vehicles, in order to attract more customers. In today’s environment, with rapid stock turnover and huge…

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Stock as a Strategic Issue: Rocketing Values

During the last 18 months the word ‘unprecedented’ has become ubiquitous and, arguably, overused in many contexts. There are, however, good reasons why its application to the car industry, both globally and locally, is well justified. The pandemic has had a tumultuous impact on both the supply and demand side of the industry and throughout…

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Stock Control as a Strategic Issue: Taking an Omnichannel Approach

The lockdowns of the last year have resulted in the ‘shortcutting’ of consumers’ comfort with, and expectations of, buying online. This has been true across almost all categories of product, including big ticket items such as cars. In the Autotrader Market Report November 2020, 41% of research respondents stated that they would consider buying a…

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