Saying “it’s by no means the finish line,” NextGear Capital recently hit notable numbers in its service as an inventory finance company for independent dealers.

On Tuesday, the company said it surpassed 50% adoption of its self-audit feature in its mobile app. Introduced last year, this feature can enable independent dealers to complete audits at their convenience within an assigned timeframe, minimizing disruption and avoiding certain fees.

NextGear mentioned additional recent enhancements based on client feedback make it faster and easier than ever to verify each vehicle, adding up to major time savings.

While inventory audits have long been a requirement of doing business for independent dealers using floor plans, NextGear pointed out the industry has evolved. So last year, NextGear introduced a multi-pronged approach to rethink the process while looking to improve the client experience.

NextGear president Scott Maybee said this approach focuses on people and technology to create a unique experience.

“As the leader in the floor planning industry, the client is always at the center of every decision we make,” Maybee said in a news release. “We know audits will never be at the top of any dealer’s list of favorite things, but we asked ourselves, ‘How can this be a better experience?’ When we looked at it from that perspective, the ideas started flowing.”

Simultaneously, the company said it began building an internal workforce to conduct in-person audits, shifting away from the long-standard model of using third-party labor.

NextGear said its field services team is able to focus on the client and their experience in ways third parties could not. The team has crisscrossed the country this year, visiting all 50 states and conducting more than 28,000 audits in conjunction with more than 31,000 completed self-audits.

“When you use a third party for auditing, the lender becomes the client and the focus shifts away from the dealer,” said Nicole Graham, who is vice president of portfolio management at NextGear. “With our in-house audit team, the dealer stays front and center. That changes everything — from the level of care to how connected audits are to the rest of the business.”

NextGear said it’s still looking for ways to apply data and technology to its audit process, expecting the experience for dealers to keep improving in the coming years.

“Where we’re at today is a massive improvement and we’re incredibly proud of it, but it’s by no means the finish line,” Maybee said. “If you asked a dealer what they’d like in terms of an audit, no doubt they’d say less or none at all. We get that, so we’ll keep listening and pushing boundaries to find ways we can use our people and technology to put less burden on dealers while helping them grow their businesses.”