There have been significant advancements in the data analytics tools offered by DMS providers. As opposed to expensive and clunky third-party analytics tools, you can leverage real-time analytics within your DMS in a way that suits your specific business. You can more accurately monitor and analyze the key performance indicators that are important to you as an Ag dealer when your DMS provider understands your unique business needs and metrics. TRACK THE RIGHT DEALERSHIP SUCCESS METRICS More Ag dealers are using data to better monitor dealership performance, project sales, and plan equipment and parts ordering numbers. But tracking so much data can lead to data overload. It’s not enough to just track data—you need to track the right data and know how to interpret it to have a real impact on your dealership’s performance. If you aren’t measuring your success, you’re relying on gut feelings and opinions to make decisions. But if you’re tracking the wrong metrics, your insights won’t be much better. Here are essential metrics you should be tracking in each department of your dealerships.
Owner/GM: • Total Invoice Revenue per Day • Total Invoice Gross Profit per Day • Total Invoice Gross Percentage per Day • New Customers per Day • Customer Payments Made per Day • Total Number of Invoices per Day • Inventory Adjustments per Day • Average Revenue per Invoice per Day • Average Profit per Invoice per Day Parts: • Total Invoice Revenue per Day • Total Invoice Gross Profit per Day • Total Invoice Gross Percentage per Day • Number of Parts Invoices per Day • Average Revenue per Invoice per Day • Parts Revenue per Manufacturer • Back-Ordered Parts per Manufacturer • Average Gross Profit per Invoice per Day • Fill Rate per Day Rentals: • Financial Utilization • Time Utilization • Average Rental Rate • Washout Percentage (at end of life) • Maintenance to Income Ratio
Service: • Total Invoice Revenue per Day • Total Invoice Gross Profit per Day • Total Invoice Gross Percentage per Day • Average Work Order Completion Time
• Recovery Rate per Day • Labor Efficiency per Day • Effective Labor Rate per Day
• Average Service Revenue per Invoice per Day • Average Service Profit per Invoice per Day
Sales: • Total Invoice Revenue per Day • Total Invoice Gross Profit per Day • Total Invoice Gross Percentage per Day • Wholegood Revenue per Manufacturer
• Wholegood Revenue per Category • Wholegood Revenue per Sales Rep • Wholegood Gross Profit per Sales Rep • Wholegood Gross Profit Percentage per Sales Rep • Average Revenue per Invoice per Day
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