9:16 am, June 25, 2024
In the fast-paced world of automotive dealerships, every second counts. From sales to service, efficiency is the name of the game.
Key management is one often-overlooked area where dealerships can significantly improve their bottom line.
Implementing an effective key management system can save time across every department, reduce risk, lower insurance costs and drive profitability.
Saving time across departments
Time is money, and nowhere is this more evident than in a dealership.
Sales staff need quick access to keys for test drives, and service technicians must be able to locate keys quickly to begin work on vehicles.
An organised key management system eliminates the frustrating and time-consuming search for misplaced keys.
For instance, a salesperson can spend up to 30 minutes a day searching for missing keys. With an average of 10 salespeople per dealership, 25 hours per week –the equivalent of three full work days – are lost to crucial hunting.
Implement an efficient key management system, though, and suddenly those 25 hours return to productive, revenue-generating activities.
Service departments also benefit greatly. Technicians can access keys immediately, allowing them to move vehicles into the service bay and begin work without delay.
This efficiency allows for more service appointments daily, increasing revenue and improving customer satisfaction through shorter wait times.
We recommend Keytracker’s mechanical peg-in and peg-out board to increase the time saved daily for swift key returns and removal.
The personalised access pegs provide an immediate visual of who has what key, and retrieving a key really couldn’t be any easier – place your access peg next to the desired key, turn it to the left and remove the key. Simple!
Reducing risk and insurance costs
In addition to the time savings, effective key management significantly reduces risk.
Misplaced keys can lead to stolen vehicles, which not only results in the loss of valuable inventory but also increases insurance premiums.
With a secure, organised key system, the risk of potential theft is virtually eliminated.
Moreover, many insurance companies offer reduced premiums for dealerships implementing robust key management systems.
They recognise that these systems reduce the likelihood of theft and, thus, the potential for claims. Lower premiums mean more money stays in the dealership.
To help reduce potential risks and lower insurance costs, we recommend implementing the Intelligent Locker System, which provides an innovative, secure and practical storage solution for keys, tools and equipment.
The locker system’s intelligent software and advanced security make it ideal for any company seeking a secure storage space to minimise misplacement or theft risks.
Streamlining processes
An efficient key management system also streamlines processes across the dealership.
Sales staff no longer need to interrupt managers to locate keys. Service advisers can quickly assign keys to technicians or guests. The parts department can easily access keys for parts and vehicles – every department benefits from a smoothly running, organised key system.
This streamlining effect extends to customer interactions as well. Customers appreciate prompt service, whether waiting for a test drive or picking up their vehicle from the service department.
Faster key access means shorter customer wait times, improving satisfaction and loyalty.
To streamline processes, we recommend implementing electronic key cabinets.
These were designed using state-of-the-art hardware and technology, providing businesses with a secure and organised location for their sets of keys while allowing for complete traceability among team members.
The software has many features, including the ability to assign keys or access codes to any user from any device at any time. Key collection and distribution has never been swifter.
The bottom line
In the end, it’s all about the bottom line. An efficient key management system is an investment that yields significant returns. Time savings, reduced risk, lower insurance costs and streamlined processes increase profitability.
An effective key management system is crucial for dealerships looking to boost their bottom line.
It’s a simple solution that delivers powerful results in an industry where every minute and every pound count. Efficient key management can be the difference between surviving and thriving.
Contact Keytracker for more information on how our key management solutions can further improve your dealership or automotive business.
Browse our wide range of solutions on our website at Keytracker.com, phone us on 0121 559 9000 or email us at [email protected].
