How To Develop Your Finance Department Profits

Process evaluation: Is your business manager talking to every customer at the time of sale? This is an important first step. If this is handled correctly by your staff, it will solidify the deal and expedite delivery. This is also the best time for your customer to be presented with his/her options in financing as well as any other products your choose to offer your customers.

Product Knowledge: Your business manager needs to know all the features and benefits of the products he/she is presenting to your customers, including the particulars of different finance and lease companies.

Presentation Techniques: Most business managers are not successful for 2 reasons. They have trouble presenting all of their products to all of their customers, and/or they do not keep track of their performance on a daily basis. In today's customer savvy market, a menu presentation system will allow your finance manager to present all of his/her products in a non-confrontational manner. By utilizing Profit Trac® you can monitor your finance department's success daily never allowing a bad week or month to go by.

Pay Plan: Every business manger will figure out his/her pay plan and work their pay plan to their benefit. Balanced selling increases your profits and reduces chargebacks. Balanced selling also increases customer satisfaction. If you want to increase balanced selling and profits you need to have a pay plan that will encourage balanced selling.

Selection of Products: Every buyer has a different value set. A buyer that would never consider a service agreement will buy an environmental agreement or credit insurance. You must present all of your available products and let the customer decide which products they want. The products that are available to be offered in the business office include: Service Agreements, Credit Insurance, Environmental Contracts, Gap Waivers, Security Systems, Excess Wear and Mileage Protection, Total Loss Benefit, Tire and Wheel Replacement.