Why Your Auto Network Needs Loop in its Tech Stack: 5 Key Benefits

OEMs are in the process of redefining themselves as many brands start to prioritise data over engineering. This shift is leading to higher levels of data generation, particularly through the expansion of telematics. As a result, there is a growing need to tame data management to help OEMs maintain their strategic stronghold within the network. Successfully managing this data will enable organisations to improve network efficiency and enhance customer experiences. Choosing the right software for automotive data integration gives you a strategic advantage.

In McKinsey & Company’s ‘The New Key to Automotive Success’ report they confirm that organisations:

“will… have to invest in building a single data platform that integrates all data sources and allows easy access to that data through application programming interfaces (APIs).” (a)

They go on to acknowledge the complexity of the task ahead for the automotive world, but highlight other industries that have successfully tackled it:

“all OEMs will need to build a technology stack to capture and integrate customer data at every touchpoint—the digital touchpoints, mostly managed by the OEM and its national sales companies, and the physical touchpoints at dealerships and within the car. It is no small task. But success stories from other industries with franchises, from fast foods to luxury retail, prove that engaging franchise partners is not only a critical element in leveraging the power of data and analytics but that it definitely can be done.” (b)

Loop’s comprehensive range of modules has been curated for multi-site organisations to provide an all-in-one solution.

5 ways Loop can bolster your data management for improved retailer performance

Perhaps your IT and Procurement teams, or even ardent Excel fans in your team, are questioning why you need another data handling system for your network. Here’s your case for Loop:

1. Centralised data
   Loop doesn’t duplicate data handling efforts; instead, it consolidates data from your existing systems through automated feeds, giving you your data “news headlines”. It creates a centralised single source of truth for your retailer performance management. Core modules - dashboards, actions, surveys, balanced scorecards and visit planning - surface insights and drive actions. Additional features like stock management, margin programme management and sales funnel management provide key insights across different areas of your organisation, providing a complete view of your operations. 
   
   
2. Enhance your decision-making
   With data already collated you can make quicker, data-driven decisions. Save resources by eliminating the need for manual data collection across multiple systems. Instead, the team can set up, monitor and tweak meaningful KPIs to ensure everyone across your network is measuring the same metrics in the same way. Enhance your network overview by utilising Loop’s interlinked modules. For example, surveys and audit results can be gathered and fed into the balanced scorecard area, as a result, you can easily compare compliance across your network locations.
   
   
3. Increases accountability
   Unlike a data visualisation tool, Loop not only centralises data into beautifully simple dashboards but also focuses on the ability to assign actions against KPIs to boost accountability and achieve improved performance outcomes.
   
   
4. Real-time access and control
   Everyone in your network can access the system in real-time to appropriate degrees by way of configurable roles and permission settings. 
   
   
5. Automations for multi-site organisations
   Designed specifically for the automotive industry, Loop is built to accommodate the entire business, including complex global hierarchies. Your team benefits from a range of automated tools, including:

• Improvement Opportunities – the platform surfaces suggested improvements the retailer can concentrate on to make the greatest impact on the balanced scorecard.
• Potential Score Calculator – a visual slider that allows retailers to forecast how their potential actions could influence their performance within the network.
• Performance Comparison – up to five KPIs can be compared against one another to drill down on metrics and help identify issues.
  
  

What type of automotive data is incorporated in Loop?

Loop has a proven approach to gathering data for global automotive OEMs, while a bespoke undertaking identifies your specific data sources and formats. The data undergoes a thorough review, which means it’s quality-checked, cleansed and aggregated. Once this initial setup is complete, future data feeds are automated. Here’s the type of data we typically encounter when working with automotive brands:

1. Spreadsheets

Spreadsheets (for example .csv or .xlsx formats) are still common across OEMs and a play a vital role in the smooth operations across the network. Loop can receive data delivered by email to secure inboxes or via SFTP. Examples of spreadsheet data could include:

-    Production planning and scheduling
-    Supply chain logistics
-    Quality assurance processes
-    Financial records
-    Sales and market analysis
-    Compliance audits
-    Research findings
-    HR records
-    Customer relationship management
-    Inventory documentation

Loop can work with existing in-house systems such as Salesforce, Oracle or SAP to retrieve data directly from the source. Here are some examples of the type of feeds you may have:

-    Inventory and sales data from dealerships
-    Customer Relationship Management information
-    Customer feedback
-    Vehicle telematics
-    Insurance records
-    Warranty and service records
-    Market trends and consumer insights
-    Connected vehicle data
-    Regulatory compliance data
-    Spare parts and supply chain information

3. Cloud-Based Apps
Cloud-based apps are scalable and flexible and often capable of integrating into a global operation, therefore OEMs will no doubt have access to a wide range of these. Loop can integrate directly with these cloud-based apps, including:

-    Product Lifecycle Management (PLM) systems
-    Enterprise Resource Planning (ERP) systems
-    Customer Relationship Management (CRM) systems
-    Supply Chain Management (SCM) systems
-    Connected vehicle and telematics platforms
-    Communication tools 
-    Human Resources (HR) management systems
-    Research & Development (R&D) systems
-    Manufacturing Execution Systems (MES)
-    Cybersecurity and compliance tools

Putting you back in the loop with your business

At Loop we know how valuable all this data is to the foundations of a business and that handling it is often complex, especially as a multi-site organisation. Loop Business Performance Management Software is already trusted by some of the world’s leading brands, such as the Volkswagen Group, Honda and Lotus. Book a demo to see how we could integrate your data into Loop to drive continuous improvement across your network.

Sources: (a) & (b) The new key to automotive success: Put customer experience in the driver’s seat | McKinsey