How can dealers maximise profits in 2021
20 May 2021
As motor dealers grapple with the economic impact of COVID and consider the rebound opportunities, they recognise the need to both streamline overheads and improve decision making through data delivered insights and an efficient finance function.
Timely and accurate financial information is key to making agile decisions to drive performance and profitability. The key questions we are being asked are how do we move to real time reporting where we can utilise finance information to predict sales, improve margins and cut costs? There are also the questions around finance function efficiencies, cost out opportunities and transformation, how to truly understand the numbers to make impactful and profitable decisions around selling and servicing vehicles and ring fencing the family business.
In April 2020, Rhys Stewart (Dealer Principal and Director of Hornsby Mazda) engaged Deloitte to assist him improve his management reporting and streamline his back office finance function. Rhys was already a user of the Deloitte eProfitFocus platform, designed specifically for the motor industry, targeted at developing sustainable and long-term profitability through Performance Reporting & Benchmarking via bespoke reporting dashboards.
By engaging Deloitte, he was able to blend the accurate daily financial information with the predictive information from eProfitFocus resulting in agile and clever decision making. The Deloitte team have supported the business to drive improved profitability, reduction of running costs, improved real time reporting and insights continually supported by Deloitte’s motor industry and finance managed services experts. Learn more.
If you’d like to learn more about how your organisation we can help you maximise profits in 2021, please don’t hesitate to contact us below. You can also learn about our lease accounting services here.
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