Less Paperwork Equals More Customer Satisfaction

by Dealertrack on December 6, 2019

We live in a world where purchase transactions keep getting faster and more convenient. Consumers are accustomed to ordering coffee with an app and having it waiting when they arrive, getting next-day or even same-day delivery from Amazon Prime, and pulling up to Target or Walmart to have merchandise they ordered loaded directly into their cars....

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Why eContracting and Digital Retailing Go Hand-in-Hand

by Dealertrack on November 19, 2019

More and more dealerships are seeing the value of digital retailing for bringing in customers from a variety of online sources to help counter declining retail profit margins. Consumers are definitely shopping for vehicles online. Recent research by Google/Kantar TNS found that...

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How eContracting Works with Aftermarket Products

by Dealertrack on November 14, 2019

Aftermarket sales are an important part of the deal process, but sometimes there is confusion about how eContracting figures in. For each aftermarket product, there are two types of contracts: one with the aftermarket provider and another that becomes part of the lending package submitted digitally to lenders. A complete eContracting solution sh...

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How eContracting Reduces Data Re-Entry

by Dealertrack on November 7, 2019

You’ve probably heard that going digital with your contract process helps increase accuracy and improve efficiency. So, how exactly does it do that? The key is integration between dealership systems. Technology + connection Research shows that the average dealership uses...

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eContracting and Data Security

by Dealertrack on October 31, 2019

Dealerships collect a significant amount of personally identifiable information (PII) about their customers in the process of selling them a vehicle and arranging financing. Information including the customer’s name, date of birth, place of residence, employment information, phone number, email address and social security number can all be at ris...

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What to Expect When You Switch to eContracting

by Dealertrack on October 24, 2019

When a dealership is planning to introduce new technology, the initial worry is often, “Will it be a hassle to set up?” Unlike some technologies, eContracting setup is “one and done.” There’s minimal setup and easy integrations with common CRM and DMS providers help streamline the workflow. The daily hassle of paper contracts is much m...

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3 Reasons Lenders Appreciate eContracting

by Dealertrack on October 17, 2019

Not sure your lenders are interested in eContracting? Cox Automotive research shows that the need and demand for eContracting efficiency is high for both dealers and lenders. In many cases, lenders are waiting for their dealers to get set up for eContracting so they can all benefit. Here are three reasons that lenders appreciate eContracting sol...

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What Dealerships Need to Know About Electronic Signatures

by Dealertrack on October 10, 2019

In the year 2000, Tiger Woods became the youngest golfer to win a career Grand Slam, the original Mini ceased production, and the U.S. passed the E-Sign Act (Electronic Signatures in Global and National Commerce) ensuring that electronic signatures can be valid and legally binding. Even though 19 years have passed since then, confusion about the...

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How econtracting can improve your dealership’s bottom line

by Dealertrack on October 3, 2019

When a dealership is considering a switch to electronic contracting from traditional paper contracts, it’s important for them to figure the value they’ll receive from modernizing their processes. Some paper contract expenses are easy to identify: Paper, ink, toner Maintenance of copiers and fax machines S...

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Improving On Your Paper Contracting Workflow

by Dealertrack on September 19, 2019

When it comes to switching from paper contracts to eContracting or digital contracting, some dealerships have a hard time letting go of the workflows that they are used to. Even when they realize that their paper contract workflow is full of disruptions, inconveniences and expenses, it takes a mindset change to make the switch. Let’s take a lo...

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