If the current situation has taught us anything, it's definitely to ask the right questions and embrace change for the better. But, what's more expensive, challenging than change? It's the upkeep of the change. But for a visionary who trained several companies in pre-packaged software and built customizable software solutions from as early as the '80s, change is an old friend. Michael Frazer, the founder of Frazer Computing, was fast to realize the value of change versus the natural downsides of ignoring it. In 2000, he channeled his gift of perseverance towards writing applications for one area, he thought, which needed an appreciable amount of improvements. He focused his efforts toward developing a Dealer Management Service (DMS) for the independent used-car dealers. Today, 20 years later, Frazer Computing has 22,000 car dealers using his software every day.
Today's dealers are performing and operating in an increasingly complex market. They need to review their operating models; recognize and leverage operational efficiencies; adopt smoother ways to win in a digital, omnichannel environment. All these job responsibilities, however, revolve around one central prerequisite – information and its management, the fuel of any modern business. It rings even truer in a convoluted arena like car dealership where information management dictates every process. Irrespective of the magnitude of the information any dealer owns, it really boils down to one ground reality – collation of data from disparate data sources for meaningful usage, whenever needed.
For example, a dealer's crucial information is stored and collected on several disjointed end-user devices, disparate network systems, shared business folders or CRM and ERP solutions. But during essential business hours, how will the dealer ensure an optimum way of extracting the required information in the fastest yet most accurate way? Moreover, he might need to centrally manage the data to gain actionable insights for a better decision. "Thanks to Frazer DMS, it can help consolidate all this information and automate the processes to work in harmony and offer peace of mind to the dealers," informs Frazer.
Innovation is in its DNA
"The Frazer DMS is built ground up with the idea of flexibility and agility so that dealers can pivot the model in newer ways to succeed," adds Frazer. The DMS is the hub of the car dealership business, so Frazer lets the dealers perform all the basics of running their businesses. Like buying and fixing up vehicles, taking photos and managing their online presence, or selling the car. It is also used for arranging financing for their customers and printing all the quintessential forms for every sale. Frazer Computing releases new updates for its DMS every week and has been doing this since its inception.
The rigorous improvements have enabled the Frazer DMS to seamlessly integrate, working with over 200 companies and their systems’ workflows. For example, some companies only want to figure out a car's worth. So, the Frazer DMS allows dealers to sign up with the company of their choice and then enables them to display the value of the vehicle within the software.
"But offering only operational assistance does not fit a company's mission whose legacy is built on a 20-year old story of transformational success." In many cases, Frazer Computing enables dealers to finance themselves for the vehicles they sell. "We empower them to operate as a bank and manage their accounts themselves."
The Frazer Way
"The complex dealership environment inspired us to double-click on resilience to deal with any unprecedented scenarios. Nevertheless, we deal with it with peace through a continual refinement of our processes which also makes our improvement inexorable. We're adept in catching the pace of change and further scaling it up or down to best harness it for our future." Frazer calls it the 'The Frazer Way' – the recipe of their success.
To win over adversaries and unseen challenges, Frazer Computing emphasizes learning more than prescribing. Employees are trained with developmental modules of bettering customer relationships; it is ensured that the workplace chimes with positivity; employees are encouraged to go beyond the DMS to help the customers. Each call from a customer is attended with the same importance and interest. "Our highest staffing priority is to answer 90% of all incoming calls immediately," states Frazer, while informing that each product comes with an affordable price point.
The Customer Obsession
Frazer accredits the company's benevolent customer-first culture for all the win-win situations they have
The Drive Ahead
Frazer envisages that helping dealers sell more vehicles online or through omnichannel means, can earn the company a fair amount of growth. He explains how he is going to achieve this. "Not just by marketing, but by managing the entire process – from electronic paperwork to instant financing approval, along with vehicle delivery. All this through our MyNextRide, a one-of-a-kind retail marketing platform. Currently, it's in our pipeline under the research and development (R&D) phase." Recently, Frazer Computing built a 150-seat auditorium so that all the employees can meet there every morning and start the day on a good note. With Frazer Computing promised to transform the car dealership services sector, their win will be a team game. "Uninterrupted harmony between employees, partners, vendors, and dealers will be the driver of this team's growth," concludes Frazer.