Dealer auditing a vehicleDealers should be spending their time and energy focused on activities that benefit their customers and their bottom line, not managing ancillary tasks around their dealership. To help address a major pain point for dealers that can free up more of their time to spend on core business operations, NextGear Capital, a Cox Automotive brand, announced the national rollout of their new Self Reconciliation feature, available through Account Portal.

The Self Reconciliation functionality simplifies the necessary floor plan auditing process with a streamlined, mobile-first solution. Dealers can log-in to the NextGear Capital Account Portal through their mobile device, navigate to the My Audits tab, view vehicles to reconcile and take photos to submit and clear outstanding audits in real-time.

“It’s a lot quicker, it’s simplified and it’s nice not trying to have to put a piece of paper out there on a windy day,” said Geoff Gallup, manager at G5 Auto Sales in Fishers, Ind. “It’s down from a four-step process to a one-step process.”
Self Reconciliation, in combination with the Account Portal My Audits tab, puts important information at the fingertips of dealers and allows them to take action from the convenience of their computer, smart phone or tablet, making the NextGear Capital auditing process one of the most flexible in the market. Dealers can see a timeline of transactions and associated fee transparency, clear units in real-time and view a historical reference of units cleared.

“We know from talking with dealers that the auditing process has traditionally been a frustrating experience,” said Randy Dohse, NextGear Capital senior vice president of operations. “The national roll- out of Self Reconciliation gives independent dealers across the U.S. a new convenient way to handle audits, saving time and reducing errors. They can use their mobile phone to capture and reconcile audits on the spot, and move onto the business of selling cars.”

Along with Self Reconciliation capabilities, other improvements to the auditing process have substantially decreased business interruptions by up to 80 percent. Streamlined notifications, extended reconciliation timelines and the ability to advise on out-of-office periods are a few key changes implemented to help dealers efficiently manage their floor plan account.

NextGear Capital’s recent efforts to streamline the entire auditing process translated into efficiencies for Wholesale Inc. in Nashville, Tenn. “This saves three people two weeks of time following up on units,” said Chad Cunningham, vice president of Wholesale Inc.

By taking advantage of the additional flexibility afforded by these improvements in the auditing process, NextGear Capital dealers are able to focus on the activities that matter most to their dealership.

For more information about NextGear Capital’s Self Reconciliation capabilities or the overall auditing process, visit www.nextgearcapital.com/self-reconciliation/ or connect with your NextGear Capital representative.