Welcome to another installment of winning with ProfitTime, the video series designed to help you and your team get the most out of vAuto's one of a kind used inventory management solution. Today, we'll be going over your ProfitTime strategy setting. When set up right, this tool helps your team quickly appraise vehicles based on a dealership-wide goal aimed at getting you the most possible value out of your inventory. So let's get started. On every new appraisal page, you'll see your ProfitTime strategy bar on the right hand side of the screen. When you enter a vehicle's information and run an appraisal, the ProfitTime strategy bar will light up and show you where your vehicle lands within your stated dealership strategy. But how do we set our strategy? And what do those symbols on the bar actually mean? For that, let's go to our settings. Click on the gear icon in the upper right hand corner, then click General Settings. In the left hand column, click General under the ProfitTime menu. You'll see our same ProfitTime strategy bar pop up, display ProfitTime scores of 1 to 12, along with some helpful definitions. You'll also see our grid down below here. We'll get to that in a moment. Now there are two numbers on every ProfitTime strategy bar to pay attention to: the dealer starting score and the dealer strategy threshold. The dealer starting score represents the ideal ProfitTime score you'd like to see when appraising vehicles. Think of it as your appraisers' North Star. They should always try to bring in vehicles as close to this number as possible. The dealer strategy threshold represents the lowest acceptable ProfitTime score for your dealership. You don't want appraisers to go below this number. So in this example, we'd ideally like to appraise vehicles at or close to a six, and we really are not interested in anything below a three. But not every vehicle is going to fall so neatly into one of those numbers. And that's where our green bar comes in. It represents the area in which an appraisal is within your strategy. Any vehicle that falls in this range is a solid investment for your dealership. Keep in mind this strategy is set by you, the dealer. You can always adjust these values up or down depending on how your dealership's needs change. For instance, you may find you need to adjust your starting score down to the lower range, say a four. This lets your team know that you're willing to take in vehicles at a higher cost to market. With recent inventory shortages, plenty of ProfitTime dealers have lowered that ideal score to show that they wouldn't mind investing a little bit more money into a trade-in than normal. Conversely, you can raise your starting score more towards the gold range, say an eight. You do this in a situation where perhaps you're all stocked up on inventory and are looking to get more margin out of any new vehicles coming in. Note that the system will not let you set your scores to 1 or 12. Where you set your starting score and strategy threshold, defines your dealership's ProfitTime strategy and lets everyone on your team appraise vehicles more consistently with that stated goal in mind. So make sure you think carefully about where to set them, and keep in mind that you can always reach out to your vAuto Performance Manager for assistance. You can gain even more control over how you want to attack specific appraising situations using the grid. There's a lot to take in here, so let's break some of this down. In general, the grid lets you adjust exactly how high or low you're willing to go on a particular vehicle based on two factors: its stocking grade and its strategy action. Stocking grade tells you how right the vehicle is for your market. An A-grade is a great vehicle for your market. An F is a poor one. Strategy action tells you how much you need a vehicle in your inventory. A vehicle with the green plus is one that you're low on, and could use more of. A vehicle with the red minus sign is one that you've got plenty of already and shouldn't necessarily be looking to add. Now let's take a look at these squares and just ignore the numbers for a moment. Each square on the grid represents a specific situation you may run into while appraising vehicles based on stocking grade and strategy action. This square in the bottom left corner is a vehicle that's really good for your market, and also one that you're low on. The square in the opposite corner is one that's not very good for your market, and also a vehicle that you already have plenty of. Now here's where the numbers come in. Each one is a ProfitTime score. More specifically, the minimum ProfitTime score you want to see in order to bring in that specific vehicle. So for the vehicle that's good for our market that we could really use more of, we are happy to take in at a ProfitTime score of four or above. We really want this vehicle and we're willing to put more money into it to make the deal. But for the vehicle that's not great for us and that we already have plenty of, we are not willing to spend very much money at all. In fact, we're saying to our appraisers, you better bring in this car at a minimum score of eight so that I can get the most possible profit out of it. You can adjust these ProfitTime scores in the grid at your discretion, depending on your risk tolerance and your business needs. We highly recommend speaking with your vAuto Performance Manager before doing so. Well, that's all for now. Thanks for joining us again, and we hope that this has helped you understand ProfitTime's strategy setting tools a little better. As always, please be sure to reach out to us with any further questions.