The financial back office of a commercial truck dealership regularly faces a variety of challenges, from rapidly shifting market dynamics, to supply chain disruptions, to economic uncertainties and more.
To keep moving forward, you require accurate information, reliable processes, and transparent visibility. But tasks like manually matching invoices to P.O.s and issuing check remittances burden finance teams and hinder operational progress. Moreover, these processes offer limited visibility into cash flows and often threaten vendor relationships.
End-to-end automation for your back office can help mitigate these challenges. With DocuPhase’s comprehensive suite of automation solutions including digital forms, easy-to-configure workflows, document management, and AP and integrated payments, you can streamline your financial processes from start to finish. Leveraging automation for your financial back office can help your dealership preserve its agility, enhance its visibility, and effectively manage its vendor relationships.
Strengthen Agility:
By digitizing and automating crucial financial processes, commercial truck dealerships can safeguard profit margins and stay competitive in a market with rising demands.
As hiring challenges persist in a rapidly changing workforce landscape, keeping pace with rising demand becomes a primary concern.
Remarkably, organizations that leverage procure-to-pay (P2P) automation reduce workloads and support rapid business growth without the need for additional headcount.
Truck Country, a valued DocuPhase customer, exemplifies this success. Leveraging DocuPhase’s end-to-end AP automation solution, Truck Country was able to expand by four new locations without increasing corporate headcount–all while seamlessly integrating their data back into the Excede platform.
“DocuPhase has supported our business by allowing us to grow without added stress on the corporate team,” said Cameron Wolfe, Corporate Controller at Truck Country.
Embracing automation empowers commercial truck dealerships to fortify financial operations, meet growing demands, and achieve remarkable growth without excessive hiring or added stress.
Improve Visibility:
Visibility into payment activities and processes is crucial for commercial truck dealerships to make well-informed decisions. Workflow automation solutions bring this clarity to the forefront by granting real-time access to comprehensive financial data.
With DocuPhase, dealerships can leverage powerful tools that allow them to easily track expense approvals, monitor vendor payment statuses, stay on top of warranty claims, and see whether vendors are being paid on time.
Equipped with this data, department leaders can better identify and address opportunities for cash flow optimization while leading their teams more effectively. By enforcing best practices and addressing priority issues promptly, these insights help finance teams drive growth and enhance profitability for their dealership.
Enhance Vendor Relationships:
Building and maintaining strong vendor relationships is essential for any commercial truck dealership. It helps you ensure consistent quality in the materials and parts you procure, capitalize on opportunities for cost savings, and build trust–all of which ultimately help you improve operations, reduce risks, and enhance profitability.
P2P automation solutions like DocuPhase are vital in fulfilling two essential vendor desires: more timely payments and better channels of communication.
By leveraging integrated vendor payments that automate your remittances directly, you nurture positive relationships and open opportunities for early-pay discounts. These discounts, often overlooked in manual processes, can significantly impact the dealership’s bottom line.
Additionally, with DocuPhase’s vendor portal, suppliers enjoy the added convenience of digitally uploading invoices and engaging in direct chats with your AP team. This eliminates the chaos of disjointed email chains and phone calls, optimizing communication and enhancing efficiency.
Steering Toward the Future of Financial Management:
DocuPhase paves the way to a more efficient, productive, and prosperous future for commercial truck dealerships. Increased visibility into payment activities empowers informed choices, while better vendor relationships lead to improved bottom-line performance.
“Come together” with us at Procede Software Conference in September and experience the transformative power of DocuPhase firsthand! Learn from successful dealerships that have harnessed the platform to achieve remarkable growth as we demonstrate how DocuPhase’s Excede integration can fuel the success of your financial back office.