Dealership Data Compliance Programs Require Monitoring and Periodic Audits
Transcript
Ken : Compliance isn’t just doing it once and getting it in. Right. And I mean, the majority of the heavy lifting is getting these processes in place inside the dealership, putting in place processes to audit that they are in fact in place, and then monitoring and you have to do board reporting on a regular basis of which is the results of your audits that you’re doing internally. n
nSo, I mean, I’ve always thought that, you know, with the agent models, and there’s some agents that do this, they help dealers manage these processes for them. But if you have several dealerships, right now I’m now overseeing compliance programs, and auditing them in each of the dealerships. n
nKelly : That gets to be a full time job pretty quickly. So you’re doing that? n
nKen : No, no, we don’t, we don’t do that now. We are trying to try to Yeah, we have recently partnered and we have press releases and stuff with compliance and they do have services where they’ll come into a dealership and help them do that, actually, you know, I help them with their audits.n
nAnd we have programs that we sell and partner with compliance on putting some of those audits and stuff in place and and helping dealers with the audits and reporting. And I think it’s more of a you know, like you said an upfront consulting, get this stuff in place. This is what you need to be doing. Okay, now, you’re good. You just need to have somebody designated to be responsible for thisnn
nSo, I mean, I’ve always thought that, you know, with the agent models, and there’s some agents that do this, they help dealers manage these processes for them. But if you have several dealerships, right now I’m now overseeing compliance programs, and auditing them in each of the dealerships. n
nKelly : That gets to be a full time job pretty quickly. So you’re doing that? n
nKen : No, no, we don’t, we don’t do that now. We are trying to try to Yeah, we have recently partnered and we have press releases and stuff with compliance and they do have services where they’ll come into a dealership and help them do that, actually, you know, I help them with their audits.n
nAnd we have programs that we sell and partner with compliance on putting some of those audits and stuff in place and and helping dealers with the audits and reporting. And I think it’s more of a you know, like you said an upfront consulting, get this stuff in place. This is what you need to be doing. Okay, now, you’re good. You just need to have somebody designated to be responsible for thisnn