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Articles & Archives Dealer Business Briefing Feb 15, 2011
Are computer access policies putting your dealership data (and $$) at risk? DealersEdge recently reported on a dealership embezzlement in which the store's office manager had set herself up as a system administrator on the dealership's computer system simply by forging a letter of authorization on dealership letterhead. $1.2 million later, the dealer/principal is wiser but poorer. How far would you have to dig to find data threats lurking in your dealerships: employees with access to more computer screens than they need to perform their jobs.
Easy money: Trim bank charges Did you see the news stories recently about some big money center banks that were suing over the amount they were charged for foreign exchange transactions? The culprits were other large banks that acted as clearing agents and the overcharges had been going on for years. The same sort of thing might be happening this very moment to your dealership. Take a look at your bank processing fees and credit card processing fees. Doing this has already made a difference of at least $2,000 to $3,000 a month for a muti-state dealership group which includes import and domestic dealerships in Florida, North Carolina and Georgia.