It is with great pleasure that we can announce our nomination at the Car Finance Awards 2022 in the Best Service for Dealers category.
We’re incredibly proud of all of our team for the hard work and dedication that they have shown this past year that has led to this nomination. Being nominated for this award is a huge accomplishment in and of itself, and it reflects on the commitment we have shown over the past 12 months towards providing excellent car finance services to our dealership partners. As the winner of the Best Service for Dealers award at the Car Finance Awards 2021, we are particularly proud of the fact that we have been nominated for 2 years running – a testament to the zeal our team has to provide our dealer partners with excellent car finance solutions. Hopefully we can retain our title as the winners of the Best Service for Dealers award.
At the end of the last fiscal year, April 2021, there was a sense that we were beginning to see the light at the end of the Covid tunnel. Like most other businesses, the previous year had been fraught with difficulties that needed to be overcome. It was with this in mind that we decided that one of our main priorities for the coming year would be to further improve the level of service that we provided to our dealer partners; helping them to increase their trading levels post-Covid.
Our primary approach to providing excellent service to our dealers was through our QST system that allows dealers to find the best car finance solutions for their customers.
Transforming Our Operational and Sales Support Practices
The first step of our plan to further improve the car finance services that we offer to our dealers was to increase the efficiency of our operational solutions. This was achieved through our implementation of operational initiatives that have dramatically reduced underwriting times – as a result our volumes grew by 47%.
Furthermore, at the end of the last fiscal year, 25% of acceptances were issued to dealers within 60 minutes – in the last year, we have increased this to 52% of acceptance issued within an hour. This, again, was achieved through our improving of operational practices.
We have also further improved the sales support that we provide to our dealer partners. Our external sales team consists of 10 Regional Development Managers (RDMs). These RDMs have all previously worked in dealerships as either sales or business managers. Their industry knowledge has been indispensable in the development of our sales support practices. Our RDMs operate as ‘business improvement specialists’, who proactively help our dealer partners to achieve improved results across their business.
The improved sales support operations that we have implemented have resulted in us receiving highly positive feedback from our dealerships. On the completion of every transaction, our dealer partners are given the opportunity to rate the service that they have received from us on each individual transaction. Over the past 12 months, dealerships have rated our service as either ‘Excellent’, ‘Great’ or ‘Good’ on 92% of the responses to our dealer satisfaction survey.
Thanks to the excellent service we have provided – and, consequently, the positive feedback we have received from our dealer partners – we have also increased our lender portfolio. In the last 12 months the amount of lenders who we have partnered with has grown to 20. This means that we can offer more comprehensive and competitive car finance solutions to our dealerships – it is our aim to use these increases to further improve our operational efficiency and our sales support practices over the next 12 months, thereby offering our car dealer partners an even better service.
Where Do We Go From Here?
To have been nominated for the second year in a row for Best Service for Dealers at the Car Finance Awards shows that the practices that we have implemented over the last 12 months have continued our excellent service trajectory. We have maintained a high level of service for our car dealer partners and further improved on areas that have increased our effectiveness at finding the best car finance solutions for our dealerships.
Our mission for the next 12 months is to continue to provide an exemplary service to our dealer partners while identifying practices that we could improve upon. We aim to further increase the amount of acceptances that we can provide to dealerships within an hour, as well as to increase our volumes.
We are also targeting an increase in the number of users we have on our QST system. Our QST system allows car dealers to input their data into a car finance calculator which can then provide a range of car finance solutions for car dealers and their customers.
Are you a dealership who are interested in using DSG Finance for your own car finance solutions? Speak to one of our team today to find out more about how we can help you to increase your car finance acceptance rate by contacting us here.