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Why Paperwork is Slowing Down the Auto Industry
May 16, 2022

Working in the auto industry is a challenge. From increasing competition and supply chain issues to slow service and difficult customers, there are so many obstacles to overcome in order for your car dealership to succeed. 

On top of all that, auto industry analysts report that new vehicle sales for the first quarter of 2022 were down over 14% compared to last year, with sales for many popular automakers expected to see year-over-year sales declines of more than 20% for the first quarter. 

So how can car dealerships combat these challenges in order to be successful?

Keep reading as we share a straightforward yet powerful way to rise above the competition and increase conversions: your file transfer system.

Customers Hate Waiting

Before we dive into how an effective file transfer system can increase conversions by minimizing inefficiencies, it’s important to first know that consumers cite waiting at a dealership as a top pain point. In fact, according to the most recent CDK Global Automotive Retail Friction Point Report, 41% of consumers surveyed say waiting at the dealership is their largest pain point when purchasing a vehicle, whether that’s waiting on a salesperson, finance & insurance manager, or even just alone. Furthermore, a third of customers reported wanting a fast, easy, and convenient buying process. 

These findings highlight the continued demand for retail experiences across industries to be seamless and smooth—and the auto industry is no exception. Dealerships need to move past traditional, outdated processes that feed into longer wait times for customers. Chances are, no one wants to spend a long time waiting to complete a purchase and feel like their time is being wasted.

That’s why using a straightforward and efficient file transfer system can drastically cut waiting times and craft a more enjoyable customer experience.

A More Convenient & Efficient Solution

Daily life in a car dealership requires countless instances of transferring paperwork, from copying a driver’s license for a test drive to checking someone’s credit and completing paperwork. Unfortunately, all of these are points of friction within the customer journey that can ultimately deter a buyer.

Fortunately, an effective file transfer system is a logical solution for car dealerships to make an immediate impact not only on the customer experience but also on internal inefficiencies. A file transfer is simply the process in which one computer system transmits a computer file through a communication channel to another computer system. However, they are incredibly important because all organizations need to ensure that their exchange or delivery of data is secure, compliant, and efficient.

When choosing a file transfer solution, beware of inefficient ones that can create significant amounts of friction during a transaction. For instance, if a customer needs to create an account with a username and password, receive and enter a pin, and then answer security questions just in order to fill out new paperwork, they may be discouraged and consider buying a car another time or checking out a competitor dealership. In addition, document retrieval tends to be one of the biggest challenges within finance & insurance and is an area for improvement that the right file transfer system could easily solve. These are all reasons why an ideal file transfer solution streamlines the entire customer experience by reducing unneeded or complicated touchpoints while also working on a variety of interfaces such as mobile, browser, and email.

The Botdoc Way

Botdoc is the first-ever easy, remote, and secure file transport service that works via text messaging and email with end-to-end encryption. With Botdoc, you’ll close transactions at least 50% faster with no pins, no passwords, no logins, no accounts, no apps, and no software to download.

Intrigued?

Let’s schedule a demo today and discuss how the secure “FedEx” of data can help you better manage your bottom line.

 

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