Denise Marenna is the Vice President of Consolidated Dealership Accounting at Hendrick Automotive Group
My name is Denise Marenna. I'm with Hendrick Automotive Group. I'm the Vice President of Consolidated Dealership Accounting. We have 100 plus dealerships, six regions, and we have a lot of responsibility to actually manage the business day to day.
One of the biggest concerns is having cheque stock laying around, whether it be inside the office or in a secured location. We've had personal experiences of boxes going missing. We actually did have a box shipped to us that was half empty. It had rocks in it, to make us think that the box was still full. When we picked it up it felt like it. When we would move it around, it felt like it was the same kind of box. But there was only a half a box of cheques! And that can go unnoticed for a long time because as they're delivered, you move them into the storeroom until you're ready for them. That's always a risk.
But we don't have that risk anymore. In today's world we're the only ones that can write a cheque. With MICR capacity, what we can do is write a cheque here and handle our payables. I can have my cheque numbers still be in the right order and they can have a cheque written at the dealership. But we control that. All of the technology that Reynolds is bringing to us really helps us be able to run the business a little bit more efficiently and actually have a little bit more fun.