ADP Lightspeed has developed a benchmark tool that allows dealers to compare dealership performance, margins, value and other key actions nationally, regionally and on an individual dealership level.
ADP will release this new benchmark tool, called Databack, in its LightspeedNXT product, reported the company.
Databack data will be automatically collected nightly across the country from hundreds of dealers and made available to pull real time inside LightspeedNXT. This allows dealers to do extensive market research in a matter of seconds. For example Databack reports allow dealers to check margins on used units or hourly rates within a region or nationally to compare with their own.
In addition to providing national and regional benchmarks for dealers, Databack provides an in-depth view into the individual dealership’s performance. Reports such as average parts tickets, hours per RO or service history give dealers a quantitative view into their dealerships individual performance and can help target underperforming employees.
Databack is a subscription-based product and will be available to dealers currently on the system for download in version 3.9.1 due for release in November.