RWA Automotive wins IT Innovation of the Year Award in London, England for its Automotive Dealer Business Intelligence (BI) solution
At an awards ceremony attended by over 1,000 automotive dealers and industry insiders at Grosvenor House in London on 23rd November 2022, RWA Automotive took the plaudits.
RWA Automotive (previously Real World Analytics) provides a business intelligence (BI) solution to automotive dealer groups. RWA pulls data directly from the DMS (Dealer Management System) and many other 3rd party applications such as Showroom & VHC systems each night. Automated actionable reports and dashboards are securely emailed to inform each level of the business where they are at in terms of their KPI’s, targets and the exceptions. Wallboards in the Sales and Service Advisor departments are updated throughout the day to drive daily performance. This business intelligence covers Sales, Aftersales & Accounts. The benefit of this is described by one customer as “What gets measured, gets done.”
In 2021, RWA developed a new BI product for Used Vehicles called PriceSmart, this combines daily market pricing from Auto Trader & DMS data to enable the dealer group to maximise their profitability in a highly dynamic market. Auto Trader’s marketplace hosts the largest pool of vehicle sellers in the UK (listing more than 485,000 cars each day) thanks to their partnership with more than 13,300 retailers. Using the Auto Trader valuations, the dealer can overlay a custom pricing policy typically based on the Retail Rating (desirability) and Days in stock to give a daily recommended retail price for every vehicle. The innovation to the industry is:
• Being able to apply a central best-in-class pricing policy to their cars
• Profile entire group forecourt in 60 seconds
• Only show the exceptions to the dealers each morning for action, not all
• League tables for motivation and driving change
This was implemented for a dealer with over 30 sites in England in September 2021. Astute implementation of these insights drove the average sale price $400 per car above the Auto Trader valuation from October onwards. Whilst the whole industry enjoyed a bumper return in 2021 with the rising market, this group added $3.4M over the return on the average market price to the group bottom line in the 10 months to July 2022 with this initiative.
RWA Automotive will be on Booth 7051 at NADA Show 2023 in Kay Bailey Hutchison Convention Center Dallas, Texas. They’re offering following show specials exclusively at NADA 2023:
- For PBS dealer groups, RWA Automotive is offering a FREE business health check (worth $5,000) with their live data. In addition, the first two groups that sign up will receive a 20% voucher off their subscription (for the first two years).
- For CDK dealer groups, we’re also giving away 50% vouchers for the first 2 group that come to talk to RWA.
About Motor Trader
Motor Trader magazine is a leading motor dealer publication in the United Kingdom (UK). MotorTrader.com is the leading website for the UK car dealer sector. From the supply chain to the forecourt, they provide the best news, opinion and bespoke market analysis on the issues making the headlines. Updated up to 20 times a day, automotive news forms the backbone of www.motortrader.com; uniquely the site has a fully searchable archive containing items from all the previous print issues of Motor Trader dating from 1994.
For more information, please visit https://www.motortrader.com/
About RWA Automotive
RWA Automotive has built a cloud-based Business Intelligence (BI) solution for franchised dealer groups. It is the one place they go to manage their whole business. By bringing all their data together and delivering actionable insights to different levels in the business, everyone has the right information at the right time to do their job efficiently. The management will be presented with executive dashboards where they can drill down to the necessary details. Managers in the branches will get reports such as DOCs delivered to them automatically. RWA provides unique modules for sales of new and used vehicles, stock management, aftersales service and management accounts.
RWA is a market leader in the UK in automotive business intelligence (BI) solutions.
For more information, please visit www.realworldanalytics.com
Katie Huang, Marketing Manager, RWA Automotive
+44 (0) 808 1890 617
Conall Lavery, Commercial Director, RWA Automotive