Automation of Dealer Finance Transactions with electronic signatures for 12,000 Dealers will Speed Transactions for Customers and Dramatically Reduce Costs

eOriginal, Inc., a leader in electronic signatures, eVaulting and electronic transactions, announced today that a leading US Automotive Finance Company selected eOriginal SmartSign® Web to enable the creation and completion of electronic dealer finance transactions.  The adoption of electronic signatures among their 12,000 plus dealers will significantly reduce the funding cycle, eliminate incomplete loan documentation and decrease associated transaction processing costs.

The dealer finance company will initially deploy electronic signatures for the documentation executed among the 12,000 dealers in their network.  The solution will allow for consistent implementation, support and the adoption of standardized processes across all dealers.

The conversion to electronic signatures will transition the dealer finance company from paper based processes and the substantial costs related to paper reproduction, storage and manual processing to an end – to-end efficient electronic process.  This transition will improve customer service, lower costs and improve the “re-write” rate.  Dealers are constantly re-writing deals because of lost documents and omitted signatures.  With eOriginal’s SmartSign® Web electronic signature and vaulting solution, documents are never lost and signatures can never be missed or omitted.

eOriginal’s SmartSign® Web and eCore® Vaulting technology was selected after a thorough review of marketplace options.  The ability to centralize and electronically manage documentation was a significant driver in the decision to adopt electronic signatures.  A key competitive advantage for the dealer finance company choosing eOriginal’s solution over other vendors was eOriginal’s secure and legally compliant electronic vault.  eOriginal ensures that each signed document is authenticated and protected using digital signatures to create tamper-evident seals around all documents placed under the control of the electronic vault.  Important documents may be maintained in an authenticated electronic format for their full legal life.

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Using an electronic signature process results in a “greener” company…in more ways than one.  From an environmental perspective, paper has been eliminated and mailings are reduced.  There are less resources being consumed, yet more contracts are being signed.  That’s the other “green”.  Sales reps close deals faster, and customers will use your products and/or services much quicker.  Repeat orders come in rapidly, which means your company is moving products faster and your customer satisfaction levels are higher.  All of this happens because of the efficiencies gained through the use of electronic signing.

Besides the benefits listed here, upgrading your paper process to an electronic one also adds more flexibility and cash flow into your existing infrastructure.  Resources and funds are now able to be allocated towards something other than filing, maintaining or storing documents.  And, because of the increase in productivity most businesses find themselves able to move ahead in directions they thought would have been years away while using a paper process.  Faster contract close times, a lighter environmental footprint and more satisfied customers are the benefits you can look forward to when adding electronic signatures.  Actually, using an electronic signing process may make your competition turn green…with envy, if they are still using paper to close deals.

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Within the electronic signature solutions industry, there is a great focus on the core benefits of implementing electronic signatures, including reducing costs, closing deals quicker, or eliminating signing errors.  The common thread in all of these benefits is the greatest attribute associated with introducing electronic signatures into your current business processes…the ability to go paperless.

Eliminating paper from your business process instantaneously allows your organization to make an immediate, positive impact on the environment.  By managing your documents online you can eliminate your company’s dependency on printing, shipping and physically storing your signed documents while reducing paper waste, air pollution, and deforestation.  As an added bonus to the tremendous environmental impact, your company will also save money in many ways:

·        Unnecessary printing wastes paper.  Imagine the amount of money your company can save in printing supplies alone;

·        Shipping your documents is also a major contributor to pollution. CO2 emissions released by trucks, planes, and vans used to transport your documents will be greatly reduced by allowing your clients to go online to sign your documents;  and

·        Physically storing your documents costs your company money and resources. By digitally storing your documents your company can save money on everything from storage space to filing cabinets.

We understand that transferring to a completely paperless office does take effort on everyone’s part and the environment benefits associated with eliminating or reducing your paper usage are obvious.  What is often less obvious is the money your company can and will save.  Whether you want to help sustain our environment or sustain your business going paperless can help you accomplish both challenges.

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