ProfitGoals
Communicate Goals
Coach net profit improvement
ProfitGoals - Product Overview
The ProfitGoals web application was designed to provide franchise automobile dealers a tool or process for leading management to the “Benchmark” net profit performance level.
The Benchmark Performance, as promoted in 20 groups, is defined as net profit equaling 4% of total dealership sales or 30% of total department gross profit. This is commonly referred to as net on sales or net to gross. Utilizing the software monthly for review of financial performance will educate managers about their financial responsibility to their department's bottom line. The monthly view will provide a comparison between the previous month and the forecast that the manager predicts.
Submitting your monthly financial statement is as simple as dragging and dropping the Excel OEM version. Access to total dealership or departmental dealership view is controlled through username and password.
There are three modules that make up the profit goal software:
One is the financial statement view broken down by Department. Incorporated in each Department view of the financial statement is a forecast area.
Another module is the action plan
area. Here, a manager writes
up the what and how-to for implementing a change based
on the forecast prediction. It is posted awaiting senior management approval.
The dealership can set up each manager's compensation plan as it currently exists, the predictions will link to an actual month compared to the forecast predictions. Managers can compare the actual compensation to the compensation if they succesfully reached the forecast predictions, or results from the effective action plans.
The home page for the dealer or general manager displays all departments and provides access for managing. The departmental view for each manager includes access for them to manage their forecasts. The manager view allows grouping of multiple departments. General Sales Manager along with Fixed Operations Director, as examples. The Action Plans module provides accountability for managers to detail the “what” and the “how- to” of any change process based on their forecast Predictions.
There are various ways to utilize this software including LCD-projected group meeting, web share one-on-one or group meetings and this can be accomplished from any location. This can help control expense of meetings for dealers with multiple stores.