V12 Vehicle Finance offers online stock auditing

V12 Vehicle Finance is offering dealers the option of having stock audited online through its new ‘Flex Auditing’ solution.

It said Flex Auditing will save around 2,500 physical visits per year, which is predicted to rise further as the lender’s lending product portfolio grows.

As a result, the cloud-based system is predicted to cut approximately 165,000 miles in car travel per year for V12VF auditors, with those savings only expected to grow as a growing number of dealers make the swap.

Typically, auditors will visit on a monthly basis, with the average physical stock audit generally taking one hour and 45 minutes. This could extend to three hours for car traders with higher volumes of stock on their forecourts.

With V12VF technology, dealers conduct the audits themselves with invoices and digital photos submitted easily through the platform.

Craig Mooney, head of sock funding options at V12 Vehicle Finance, said: “While auditing may be an essential exercise, we understand that having an auditor arrive on site can be disruptive and take the focus away from trading.

“That’s why we’ve pioneered our Flex Auditing system. Dealers can now choose to do their auditing as and when it suits them, with the option of delegating the process to other staff as and when required.

“Dealers can still opt for physical audits if they wish, but ultimately, by taking up this new solution, they are playing their part in maintaining a system which is much more efficient and better for the environment.”