Worry Less About Going Paper-Less
March 17, 2020—With all the talk of tech disruption in the automotive aftermarket, it’s surprising how much paper still changes hands in transactions, whether it's invoicing, receipts or check payments.
More than half of business-to-business transactions are still made by paper checks, according to an estimate from Nvoicepay, a payment technology developer.
Transition from a proven paper system can be a tough transition. Recently, Nvoicepay CEO Karla Friede cited some cases in which tech disruption pushes some businesses toward that transition. ADAPT reached Pam Cichoke, VP of Automotive Sales for Nvoicepay, to follow up on some of those ideas.
Cichoke says that for low-margin businesses, like the dealerships the company works with, new tech is often a way to gain efficiencies.
“There is never downtime in the dealership world, and working off paper only slows up progress at the store level. Dealerships that are quick to adopt change are the ones who will survive the massive changes happening in the industry. Forward-thinking dealer principals understand that the status quo won't prevail,” Cichoke writes in a Q and A with ADAPT.
She says that smaller operations should look for tech that doesn’t require a large IT team to roll out. Considering a product for its ease-of-adoption is an important part of the process.
“Dealerships have limited in-house resources, so take the time to find products and services that support a smooth transition from your manual workload to an automated one,” Cichoke says.