FARMINGTON HILLS, Mich. -

This week, RouteOne highlighted that its eContracting platform reached a new milestone with 7.5 million booked eContracts. The threshold resulted in more than $200 billion in funded deals.

RouteOne indicated the growth can be attributed to the rising adoption by:

• More than 6,000 active eContracting Dealers

• 36 live and in-pilot eContracting finance sources

• 12 eContracting integrated dealer management systems

RouteOne said today’s digital retail environment is driven by evolving consumer expectations and demands the delivery of a better experience, convenience, and transparency. The company noted eContracting plays an integral part of this rapidly evolving landscape. It can provide consumers the convenience of faster funding, which saves dealers money on floor plan and courier fees. It increases efficiencies between dealers and finance sources by automating critical checkpoints and validating data upon entry.

This process can result in reduced bounced or held contracts. The digital workflow and benefits eContracting can provide to all parties is becoming a standard, and is more and more how business is done.

To support growth and further streamline dealer processes, RouteOne emphasized that it is continually enhancing the features offered to dealers who utilize eContracting, including:

• Remote document delivery, which can give consumers secure electronic access to their eContracted documents.  At the same time, it can reduce printing costs and paper shuffling for dealers.

• Aftermarket rating and contracting, which can provide direct integration for dealers to their aftermarket providers, allowing them to retrieve product rates, register a product sale and execute a contract for an aftermarket product as part of the eContracting process and eSigning ceremony.

• Mobile signing application, which can allow dealers to present contracts to customers and capture their signatures on a tablet device, de-tethering the signing process to allow dealers to support consumers anywhere they wish to do business and reducing reliance on proprietary devices.

The company added finance sources are also benefiting from recent enhancements, including:

• Complete electronic validation and processing, which can provide finance sources a more robust funding package to enable automatic booking of eContracts with no human interaction. It can offers dealers faster funding by alleviating the need for manual review of contracts.

• eContracting certification for loan origination systems, which can help ensure that the technical implementation for finance source customers who choose eContracting, is a fast and easy process. It establishes standard functionality requirements that Loan Origination Systems must meet.

“RouteOne is very pleased to have accomplished these eContracting milestones in partnership with our owners and customers,” RouteOne chief executive officer Justin Oesterle said.

“We are committed to making the investments needed to support and lead the industry’s continued adoption of eContracting. It is becoming the standard for RouteOne users to the benefit of dealers, finance sources, and consumers,” Oesterle went on to say.

Dealers or finance sources interested in optimizing their F&I experience by implementing eContracting can contact RouteOne at (866) 768.8301 or www.routeone.com.