Generally speaking, all businesses have the potential to be audited at some point and going through an audit can be an extremely time consuming and stressful process if you don’t have all of your ducks in a row. Auditors can require you to show a great deal of data and documentation and if that information isn’t readily available and organized, or if they happen to be stored incorrectly or missing, you could be at risk of being noncompliant and your business could face penalties.
Between selling cars and servicing them, auto dealers have to keep documentation on every aspect of the business. Deal files and repair orders make up the bulk of this paperwork, and while a lot of dealerships have good processes in place to manage storing and retaining their documentation effectively, there are still many that do not. Here are the most common mistakes auto dealers make with their document storage and the risks associated with each:
Paper records are an expensive hassle that are time-consuming to file, retrieve and manage. Using document management solutions for your car dealership makes life easier by streamlining processes, and enabling instant access to your collection of paperwork, such as deal files and repair orders. Switching to a digital medium is a convenience that not only saves you time and frustration, but also is an investment that will produce steady returns for the lifetime of your business! By digitizing your dealership documents you gain multiple benefits such as: