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Payment Solutions for Building Materials Dealers and Contractors

Posted by Brandes Elitch on Thu, Jan 30, 2020 @ 11:14 AM

If your business sells building materials to the construction industry, then you already know that it takes a long time to get paid. It doesn’t matter what you sell — lumber, dry wall, plumbing supplies, roofing materials, flooring — the contractors who buy from you have cash-flow issues that they deal with every day.

The 2019 National Construction Payments Report, a survey conducted in collaboration between Levelset and TSheets by Quickbooks, concluded that getting paid in the construction industry is slower than just about every other industry. How slow? The average time to payment is 83 days!

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Tags: Building Materials, Construction, Multiple Check

Common Denominators: Formula One Auto Racing and CrossCheck

Posted by Brandes Elitch on Mon, Jan 20, 2020 @ 07:45 AM

What do Formula One auto racing and CrossCheck have in common? The answer is, “quite a bit.” Some explanation is in order.

Formula One (aka “Formula 1” and “F1”) auto racing is one of the most exciting sports in modern Western civilization, with all the ingredients for a fabulous experience embedded into it.

Article Summary

  • Why is Formula One a fabulous experience?
  • Who owns Formula One?
  • What are the common denominators between F1 and CrossCheck?
  • Why do auto dealerships prefer CrossCheck?
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Tags: Auto Dealerships, Check Guarantee

Can Artificial Intelligence Help Auto Dealerships Increase Revenue?

Posted by Brandes Elitch on Wed, Jan 15, 2020 @ 02:45 PM

Recently, some of our merchant dealers have been asking us about artificial intelligence – what is it, how does it work, and most importantly, can artificial intelligence help auto dealerships increase revenue? To answer those questions, let’s start with some background.

In 1950, Alan Turing wrote a paper titled “Computing Machinery and Intelligence.” His idea was: “Humans use available information as well as reason to solve problems and make decisions, so why can’t machines do the same thing?” The problem back then was that computers could not store enough information, or process it fast enough, to add value to the procedure. We needed more processing power, new software, and ultimately putting the GPU in the cloud. This took a few more decades, plus the power of Moore’s Law, to be viable.

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Tags: Auto Dealerships, Multiple Check

Guaranteed Payments for Delivered Building Materials

Posted by Brandes Elitch on Mon, Jan 13, 2020 @ 09:45 AM

There’s an old saying in business, “Nothing happens until somebody makes a sale!” This is true, of course, and so is this corollary: “Nothing happens with cash flow until the building materials customer pays the bill.”

Cash flow is the lifeblood of the building materials industry. Sometimes a business with a full order book and a large accounts receivable position will be forced to close its doors because there wasn’t enough cash on hand to pay the bills that are due now.

This is why it’s just good business to have a company credit policy at a building materials center. As somebody said, “If there’s no plan, there’s no hope for survival.” This raises the question: how do you create a credit policy?

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Tags: Building Materials, Check on Delivery

Spotlight on the 2020 NADA Exhibitor Showcase

Posted by Joe Gargiulo on Fri, Jan 10, 2020 @ 08:45 AM

2020 NADA Exhibitor ShowcaseThe 2020 NADA Convention & Expo is an excellent opportunity for auto dealerships to increase their business skills while attending the expansive NADA Exhibitor Showcase and participating in workshops, interactive learning sessions, and peer-to-peer learning events. The ultimate goal, of course, is for auto dealerships to increase sales and mitigate risk while saving time and money.

Attendees and presenters are composed of a highly qualified mix of industry leaders, manufacturers, exhibitors, experts, and of course, auto dealership management.

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Tags: Events / Conferences, Auto Dealerships

How Auto Dealerships Can Increase Profits in the F&I Department

Posted by Brandes Elitch on Tue, Dec 31, 2019 @ 07:45 AM

The National Automobile Dealers Association (NADA) is the trade group for new auto dealerships in the U.S. NADA provides many valuable services for their members, including training programs, weeklong seminars, an academy, and setting up “Twenty Groups,” where a dealer will meet regularly with 19 other dealers in their area to get advice and guidance from their peers on current developments in their store. Another valuable service is developing research reports on the retail automotive industry.

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Tags: Auto Dealerships, Multiple Check

Changes in the Used Car Market to Benefit Auto Dealers

Posted by Brandes Elitch on Fri, Dec 20, 2019 @ 11:45 AM

Recently, Experian released their Q3 2019 “State of the Automotive Finance Market” report. The authors made a couple of important points — mostly about changes in the used car market — that automotive retailers should take note of.

The good news is that used vehicles are generating a larger share of the U.S. automotive finance market. Used car financing increased 2.4% in 2019. It reached 55.15% of total financing. Why did this happen, and why is it good news for a dealer?

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Tags: Auto Dealerships, Multiple Check

How Can Auto Dealerships Help Consumers with Down Payments?

Posted by Brandes Elitch on Mon, Dec 16, 2019 @ 10:45 AM

Two of the most frequent questions asked by consumers at auto dealerships are: “Can you help me get a loan to buy this car?” and “How much of a down payment will I need to make?”

As a dealer, you had better have the answers accurately and quickly, or you might lose the sale. It turns out that these are not always easy questions to answer because, well, they are complicated.

In this short article, we are going to address both questions and take a further exploration of the customer credit journey at your store. More importantly, we are going to answer the question: “How can auto dealerships help consumers with down payments?”

You will learn how to provide a good customer experience, get the taillights over the curb, and inspire good reviews on social media.

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Tags: Auto Dealerships, Multiple Check

2020 Winter Las Vegas Market Invites Furniture Professionals

Posted by Kyle Escamilla on Fri, Dec 13, 2019 @ 09:45 AM

What better destination for furniture professionals than one of the largest home furnishings shows in the nation? International Market Centers, L.P. welcomes home furnishings dealers, home décor retailers, interior designers, architects, and other industry experts to attend the Winter Las Vegas Market (LVM) 2020. This market fills more than 5.4 million square feet with thousands of home furnishings/home décor exhibits, products and services suited for all professionals in the industry. This year’s market takes place Jan. 26 ­– 30 at the World Market Center in downtown Las Vegas.

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Tags: Home Furnishings, Las Vegas Market (LVM), Multiple Check

The 2020 NADA Show Will Tantalize Auto Dealerships

Posted by Joe Gargiulo on Wed, Dec 11, 2019 @ 08:53 AM

The Temptations aren’t performing, but their 1966 hit, “Get Ready,” sets the tone for a new decade of excellence at the 2020 NADA Show, the premier marketplace for auto dealerships.

The event takes place Feb. 14 – 17, 2020 at the Las Vegas Convention Center, presenting 650,000 square feet of exhibition space, educational sessions, franchise meetings, and networking opportunities for member auto dealerships, non-member dealers and other attendees.

NADA offers a separate web address for the annual show, including access to schedules, biographies of keynote speakers, maps, travel and accommodations suggestions, blog articles for auto dealerships, exhibitor details and links to its social media channels.

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Tags: National Automobile Dealers Association (NADA), Auto Dealerships