IDS Launches Industry Report With New Key Operational Benchmarks
WAKE FOREST, N.C., May 11, 2022 (Newswire.com) - Integrated Dealer Systems (IDS), a leading RV, marine, and trailer dealership software provider, has launched a new monthly initiative called the IDS Report, which provides industry insights in key areas of the dealership. This monthly visual report will share unit sales, F&I insights, and RECT benchmarks based on aggregated data from RV and marine dealerships across the nation.
Frank Tamburrini, General Manager of IDS, states:
"IDS was first to bring you the RECT reports, and these two new operational benchmarks are our continued commitment to keep bringing new innovations to the industry. I'm a big believer in the saying, you can't improve what you don't measure. These new operational insights are a way for IDS to give back to the industry we are so passionate about and help guide dealer decisions."
The IDS Report provides the monthly Repair Event Cycle Time (RECT) Report that dealers already know, plus new Unit Sales and F&I insights.
Don Miller, Senior Data Consultant at Constellation Software, the parent company of IDS, shares an overview of what dealers can expect in this monthly report:
"The Monthly Revenue section provides a quick, high-level look at the market as a whole and compares it to, not just last year, but the previous year as well.
"The F&I Highlights section reveals key performance indicators all RV and marine dealers should keep a close eye on, such as the penetration levels for finance and all ancillary products sold. With the introduction of the F&I Profitability Index, dealers now can easily determine the performance of their F&I department(s). The index is simply the combined total of the penetration levels of each product sold and the finance penetration.
"The RECT section not only provides the national averages and the impact of two main bottlenecks (warranty coverage and out-of-stock parts) on cycle times but also provides this information at a regional level.
"These monthly insights are based on actual transactions at hundreds of dealerships across the nation utilizing IDS software, not survey data. This allows us to get these insights to dealers quickly, as they are available within days of the month's end."
Each month, the IDS Report shares:
- The impact "out of stock" parts and "warranty coverage" have on repair cycles
- Historical data to spot trends and aid forecasting
- Top Work Orders for each service bottleneck
- RECT time of dealership's top brands
- Delivery (or lead) times of top vendors
- Average RECT by Service Advisor
- Unit sales vs. the previous year
- F&I insights
To access your free monthly Dealership Industry Insights, visit this page.
Integrated Dealer Systems is one of the leading providers of complete software solutions for marine, RV and trailer dealerships. With over 10,000 software users in dealerships across North America, IDS has set the standard for quality and customer satisfaction for 30 years.
Kseniya Savelyeva, CMO
Source: Integrated Dealer Systems