Our Dealership fraud and risk management experts have helped numerous dealers uncover the full extent of employee and outside fraud after the fact. But we much prefer to install systems and improve existing controls to deter and prevent fraud before it starts. To that end, we have developed a series of structured risk management tools that address the key components of the dealership financial environment.
We call this system SAFE, or Secure Automotive Financial Environment, because that’s what we want you to have. One of our Dealership Advisors starts the SAFE program by performing an assessment of the entire dealership. Based on the initial findings, we then recommend which areas need improvement in order to lock down your dealership’s finances.
SAFE is designed to provide your dealership with flexibility and the power to impact the most important needs first. We have summarized the five primary areas covered in the SAFE program to provide insight into our process and our focus.
We review this critical area to improve or establish procedures to safeguard cash and to verify the accuracy of transaction classification and recording.
Not only do we address payables fraud, but we also provide recommendations to improve the collection process and lower the average aging of accounts receivable.
Here we focus on the control of existing inventory and the proper recording of transactions for vehicles and the Parts and Service departments.
This review includes the accuracy of accounting entries and adjustments, as well as recommendations on processes and required support documentation.