Here it comes … the End of the Year!! If your year-end coincides with the end of the calendar year, it is time to get ready. If your year-end is at another time of the year, hang onto this info! Here are a few best accounting practices for dealerships that will show you what needs… Read more »
Last week at GIE + Expo, our CEO and President Anne Salemo and I attended a presentation given by Brian Beaulieu the CEO and Chief Economist of ITR Economics entitled “More Growth – More People – More Business”. Since his talk was much anticipated by the attendees we spoke with, we wanted to share some… Read more »
So far in this series on Financial Management for Rental we have covered Time Utilization, which tracks units over time to help you monitor trends and compare fleet efficiency during different time periods, and Financial Utilization, which focuses on true amount of revenue each unit earns on an annualized basis. Now that you understand these two metrics and how they… Read more »
Last week we shared and discussed one of two different types of Rental Utilization KPIs, Financial Utilization. This time we are going to discuss Time Utilization. By the end of this article you will not only know how to calculate both Rental Utilization KPIs but also how to use them in conjunction to make better… Read more »
If you’re in the equipment rental business, you know business is on the upswing. Industry revenues in the US are growing three times faster than the general economy over the past few years according to the American Rental Association (ARA). This kind of market opportunity also comes with increased competition. That’s why smart business owners… Read more »
Making your dealership parts department more profitable is one of a dealership’s top challenges. Using a reliable dealership management system such as Charter Software’s ASPEN can greatly assist you in achieving your parts department’s maximum potential. The dealership parts department is a major part of your dealership’s “bottom line” profitability, so to ensure total support… Read more »
Charter Software has always had an open book policy. And with a business system like ASPEN, you can easily make your financials visible to key employees or, if you’d prefer, all employees. According to Forbes, companies who use this rule often see a 30% increase in both efficiency and profits in the first year alone…. Read more »
Mergers, acquisitions, and an additional location. All of these factors come together to form a potentially chaotic situation. Although well intentioned, many business owners let profits slip through the cracks during this tumultuous time.
Planning should be based on facts, not guesswork. Knowing how to properly take stock of important data can unlock future opportunities, establish clear goals, and help make decisions. We’ve put together this list of 10 ways dealership data management software can help you evaluate the assets, people, and data that make up your company and,… Read more »
“While it’s clear that North American farm equipment dealers have work to do to shore up profits, much of which needs to focus on the expense side, they have improved some areas of their operation. The most noticeable is the reduction in whole goods inventories.” – Farm-Equipment.com One of the most concerning results of a recent… Read more »