If you are an administrator and you want to move to an electronic based contracting process, you need to ask yourself the following questions to ensure you have the right strategy:
- Will the process that I choose ultimately provide the dealer easy access to multiple administrators?
- Will the dealer/F&I Manager be required to click to multiple administrator proprietary web sites and/or do redundant data entry for every aftermarket product they sell?
- Are the benefits to you as the administrator greater than the total costs of moving to eContracting?
- The calculation of total costs should include:
- Internal costs of your own web based contracting system or the costs from a third party.
- Data integration costs from the dealers DMS.
- Transaction costs for being a part of any common platform like F&I Express.
- Finally, is moving to e-contracting a project for you as an administrator or a strategy?
If you are looking at e-contracting as an interesting project versus a strategic direction as a company, then you need to examine if it is the correct decision. F&I Express is building a uniform industry solution to assist in achieving 100% e-contracting. Intersection Technologies is constantly developing new and stronger integration relationships with progressive aftermarket administrators, North American auto dealers, and dealer management systems. The benefits for administrators are that F&I Express:
- Eliminates the printing of forms.
- Eliminates the distribution costs of forms and allows for real time “pull and replacement” of forms.
- Eliminates data entry.
- Reduces error rate of contracts to be processed.
- Allows for Administrator/Agent to know when a dealer sells a product to a customer – real time.
- Allows Administrator/Agent to minimize losses by having transparency into dealer receivables.
- Has the ability for online payment remittance.
- Robust real time customized reporting.
- Enhances dealer and end consumer CSI.
Download the F&I Express Brochure.