More frequent use of dealership financial statements and daily operating control (DOC) applications can help the entire service department.
“The balance sheet, one of three key indicators on the financial statement, helps managers take the service department's temperature,” says fixed-operations consultant Ed Kovalchick, CEO of Net Profit Inc.
The financial statement provides key management summaries, such as how cash is flowing, various inventory sizes and what monies are owed.
The DOC is accessible from the DMS at any time and is an almost real-time reflection of profit and expense opportunity by categories the service director wants to evaluate.
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