How Our Automotive Benchmark Reporting Can Improve Performance & Profitability
Just as your dealership benefits the customers you serve, our Benchmark reports benefit your everyday operations. Dealerships are constantly evolving, and knowing how to stay on top of your day-to-day operations can ensure that you perform at a higher level, always.
NCM Associates’ industry-recognized Benchmark reports look at everything to ensure every aspect of your business is analyzed for better strategic implementation. They’re like having a roadmap to pinpoint your strengths and weaknesses, revealing opportunities for growth you might not realize are on the table.
So, What Are Benchmark Reports?
Benchmarking serves as a powerful tool in achieving your quarterly and annual goals. Your leadership team is likely always on the lookout for methods to enhance performance and establish a competitive edge—even if you’re a namesake in your community.
Benchmarking contrasts a dealership’s performance metrics against rival dealerships or established industry standards. Because of this, our Benchmark reports offer valuable insights into areas where dealerships excel—and where improvement may be needed.
Our Benchmark Reports Are Tailored to You
This allows individual managers to concentrate their improvement efforts on the most impactful aspects that will significantly affect their bottom line. As such, this empowers dealerships to identify best practices that can be incorporated into their operations.
NCM calculates the average of the top half of the best performers of all clients reporting for a particular franchise to create an individualized Benchmark report. In other words, these composites are formed using a 50-item checklist to determine how well a dealership is performing overall.
Manage Your Dealership Your Way
When you work with NCM, you get access to a slew of tools, support, and insight. Our Benchmark reporting tools are managed in-house, which means all client data doesn’t leave our sights. Thus, it can aid dealerships in establishing realistic objectives to observe the performance of other dealerships and gain a clear understanding of what’s attainable.
Some of the tools NCM offers to dealerships include:
Profit Trend Analysis (PTA): A customizable, single-dealer product that compares one dealer’s data to a franchise-specific Benchmark. This details the trends of your operation with side-by-side comparisons of revenue and expense accounts.
Peer Performance Package (PPP): Available to dealers who wish to compare their business to a franchise-specific benchmark, the PPP is a customized, year-to-date, single-dealer product. This closely follows the layout of each manufacturer’s financial statement.
Multi-Dealership Composites: Suggested for dealerships with multiple locations to analyze the financial performance of each rooftop against franchise-specific or multi-franchise Benchmarks and their proprietary group averages.
Benchmark Reports: Real Results, Real Benefits
Think of NCM’s Benchmark reports as getting a personalized health checkup for your business. Each of our reports will tell you where your dealership is healthy and thriving, and where areas may need extra attention. Armed with this insight, you can make more sound decisions that will drive your dealership to new heights.
Lead the way for your customers, your employees, your managers, and your leaders. Embrace the power of Benchmarking with NCM Associates. Contact our experts today to begin your Benchmark journey.