VComply helps the car dealership manage compliance programs, setting new standards for operational excellence and customer satisfaction.
A reputable automotive dealership known for its extensive selection of new and pre-owned vehicles, and sells vehicles from Ford, Lincoln, and Mazda at six locations. With a strong commitment to customer satisfaction, it offers exceptional sales and service experiences.
Before VComply, the dealership relied on manual methods and spreadsheets for compliance management, lacking sufficient visibility into compliance-related risks and controls. Most of the compliance activities were manual, siloed, and time-consuming. In addition, the dealership lacked a common compliance taxonomy. This led to inconsistencies in how compliance programs were managed, and issues were reported. Many controls and tasks ended up being duplicated across the dealership. To top things off, teams didn’t have a centralized database of policies, processes, controls, and issues to understand the full impact of a compliance requirement or risk.
Also, there was a need for continuous compliance activities like GLBA and IRS 8300 cash reporting, requiring streamlined reporting mechanisms at each store. Concerns also arose regarding the usability of compliance templates, necessitating a solution accessible to non-experts.
The dealership had a hard time keeping up with all the rules and regulations from the government, especially in areas like Sales, BDC, F&I, Ops, and IT. It was tough to manage all the paperwork and make sure they were following the rules properly. Plus, they were worried about keeping their good reputation and protecting customer information.
VComply emerged as the comprehensive solution to address the auto dealer’s compliance challenges. With its multi-location, multi-center feature, VComply helps set up six compliance responsibility centers within the account to manage and report compliance activities, providing real-time visibility and tracking capabilities. For continuous compliance activities like GLBA Compliance and IRS 8300 cash reporting, VComply facilitated streamlined reporting processes, ensuring timely and accurate submissions from each store. In addition, VComply’s user-friendly interface and centralized reporting made it easy for non-experts to establish programs and controls and utilize them, enhancing overall usability and adoption.
VComply simplified F&I compliance by providing automated workflows and regulatory updates, enabling the dealership to stay ahead of evolving compliance requirements. Through VComply’s task management and timely alerts, the dealership optimized Buyer’s Guide regulations, inventory, and operational processes, facilitating seamless workflows and improving overall efficiency. VComply helps create, manage, and distribute policies 5 x faster and enables document control for the dealership. By offering a centralized repository for storing and managing policies, documents, and historical data, VComply facilitated easy retrieval and efficient management, ensuring compliance with regulatory requirements.
Solving the complexity of compliance. Better efficiency with faster, automated compliance processes.
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