We all know that buyers across industries are skewing younger, and those changing demographics impact how you sell, finance and communicate. Helping companies manage critical communications is my business, and it doesn’t get much more critical than financing a big-ticket item like an auto, truck or SUV.
The 2019 models are in. Dynamic. Stylish. Performance-inspired.
Are we talking about cars? Nope. We’re describing the latest in commercial inkjet printing equipment. Print production is having its moment and today’s color inkjet is its Ludicrous Mode.
Auto lending is a booming business, with about 85% of new cars and 50% of used cars purchased with financing, according to Debt.org. You can see how this type of lending has grown over time. About 43% of adult Americans, or 107 million people, had auto loan debt in 2017, according the Federal Reserve Bank of New York, up from 80 million people in 2012.
In a career spanning more than 20 years as a CFO, I’ve implemented plenty of new technologies to improve financial operations, compliance, reporting and risk management. It is critical that today’s CFOs think beyond these functional responsibilities to deliver strategic value to the entire enterprise and across the customer journey.
With that mandate, new revenue cycle technologies must be targeted to both enhance the customer experience and improve operational effectiveness. Electronic bill presentment and payments solutions deliver that dual objective in a powerful way.
Just back from participating as a panelist at Interval International’s HOA Insights conference in Los Angeles, where we focused on HOA and timeshare marketing tips for how they can find new owners and better engage current owners. Independent operators often have older properties and a more mature owner base, and they face unique challenges as a result.
Before jumping into the process of mapping the owner journey, it’s critical to lay the groundwork by securing senior executive support and involvement, establishing a leader and team for the project, and creating a data-driven baseline of the current levels of owner satisfaction and engagement, steps for planning the work that I covered in more detail in an earlier post.