As a controller, you wear a lot of hats with the running goal of maintaining visibility over your dealership. Gathering receipts, verifying sales and preparing reports takes precious time out of your day. Over a month, that work could potentially total 18 hours of your time. With a Virtual Terminal, you could save that time (and more) while increasing visibility over your dealership’s many moving parts. A Virtual Terminal is a software service that connects with your payment terminal to digitally record all sales information.
As a controller, you want to have a constant pulse on your dealership. This is especially challenging if you manage multiple locations. To do this while running transactions with paper-based terminals, you’re forced to do constant prep work. Preparing individual reports can take up to 30 minutes daily, totaling potentially four hours per month. You’re required to keep your reports up-to-date daily to maintain constant visibility into the dealership.
In contrast, a Virtual Terminal allows you to access all department and location sales with one log-in step and a few clicks. Sales data is logged automatically and totalled for you, so you can get a status update within moments and save precious time each day aggregating the data.
To verify sales per department or location, the batch reports for each must first be collected. With old-school terminals, this requires a courier service to pick up each location’s paperwork for the day, week or month. Transporting this paperwork can take up to 30 minutes per day, totaling up to 12 hours per month. Once collected, transactions must be sorted and verified, which can take up to two hours per month. That can amount to 14 hours per month of prep work.
The Virtual Terminal automatically produces real-time batch reports, settled or unsettled, for your quick viewing needs. Custom views of the batches allow you to see micro and macro reports across departments or locations. Instead of manually coding and filing receipts by department, cashiers can select their department’s terminal in the Virtual Terminal, so transactions are automatically coded for future reference.
Tracking brand sales per location can be tedious, but may not require separate batch reports. With a Virtual Terminal, you have the flexibility to customize fields. Adding a custom field for brands and requiring it for every transaction will allow you to quickly search to get an idea of sales per brand. This will give you a better idea of which brands are performing better in a given month or quarter, at a moment’s notice.
Old-school terminals don’t have the ability to track team-member performance, so tracking sales quotas per salesman can be laborious. With a Virtual Terminal, user activity is logged so the user who runs, edits or refunds a transaction is associated with that action. A quick search by user and date can give you an overview of his sales over any given time period. Customized user access allows admins to restrict certain team members, as desired, from running certain transactions or limiting them to activity at their location. Meanwhile, admin users can view all locations under one account for clear visibility and easy access.
Do you struggle with maintaining constant visibility over your dealership? Do you feel like you’re wasting precious time trying to meet that goal? Tell us more below!
Editor's Note: This post was originally published in April 2018 and has been updated for comprehensiveness and accuracy.