When a dealership is planning to introduce new technology, the initial worry is often, “Will it be a hassle?” Here are four reasons that adopting and using eContracting can be easy and beneficial for dealers.
Setup is simple
As with most technologies, eContracting setup is “one and done.” There’s minimal setup and easy integrations with other systems. The daily hassle of paper contracts is much more of an obstacle for dealerships than the minimal setup required by eContracting platforms.
Multiple devices can support eContracting
It’s important to know what hardware is necessary for the eContracting functionality you plan to use. Some providers require proprietary devices for contract review and signing—or otherwise limit your technology options for using their solution. Choosing a hardware-agnostic solution will allow you to work with the devices you already use every day, which will save you time and money.
Lender form changes and updates can be done automatically
When using DMS for paper contracts, there are licensing and programming fees. eContracting has the potential to eliminate those fees, as the latest approved forms from lenders can be added at no charge. With no paper programs, you can avoid paper licensing – and always have access to the correct lender version of every form.
A digital workflow adds efficiency and convenience
Workflows for paper contracting processes are filled with everyday hassles where customers must sign paper form after paper form, all of which are then overnighted to lenders – sometimes sent back for corrections, then shipped again – and finally, securely filed.
eContracting offers a streamlined workflow that is easy to learn and use. The benefits are immediate, with file cabinets full of paperwork replaced by digital deal jackets that include every document needed to complete a deal. Some eContracting platforms even include aftermarket contracts.
You’ll find that integration with other dealership systems means less data re-entry, which helps prevent the introduction of errors. That means eContracting helps dealerships submit accurate contracts quickly and easily, with no more back-and-forth with lenders.
Whether your dealership is considering a switch to eContracting or looking to maximize the benefits of your current eContracting platform, the more streamlined processes of eContracting can help you leave many of your current hassles behind you.
