RouteOne Introduces New Solution to Help Dealers Convert Online Shoppers into F&I Customers
FARMINGTON HILLS, Mich. — Along with developments connected
with Dominion Dealer Solutions, RouteOne introduced FinanceConnect, a new
product designed to help dealers quickly convert online vehicle shoppers into
F&I customers.
Officials highlighted FinanceConnect can offer dealers a
customizable credit application microsite that can allow them to meet and
engage their customers where they are — online.
The solution also can allow dealers to quickly and
efficiently manage and track customer leads and broaden the reach of their
credit application pipeline.
RouteOne explained dealers will have the ability to include
credit incentives, vehicle specials and other promotional materials within
their custom microsite. Designed to provide dealers with a robust and fully
integrated online consumer shopping experience, the application also can offer
videos and tips to help the consumer understand the requirements needed to
apply for financing.
Additionally, the firm said data will be validated in
real-time, allowing customers to correct errors immediately.
Dealers utilizing a CRM product or third-party website
provider may continue to use these tools with FinanceConnect, as RouteOne is
integrated to several CRM providers. The application is also compatible with
tablets, allowing dealers to facilitate the customer's completion of the
application from anywhere at their dealership.
"With more and more customers shopping for vehicles on
the Internet, it's critical that dealers are prepared to offer their customers
an avenue to shop online and apply for vehicle financing," RouteOne chief executive
officer Mike Jurecki said.
"RouteOne's FinanceConnect tool allows the dealer to compete
for business and stand out in the increasingly crowded online marketplace,"
Jurecki continued. "The application is customizable, allowing the dealer to
promote their value proposition and increase the value and quality of leads and
credit applications they receive."
RouteOne, Dominion Dealer Solutions Reveal DominionDMX
Integration
RouteOne and Dominion Dealer Solutions announced the
integration between DominionDMX, Dominion's new dealer management system (DMS)
and RouteOne's extensive credit application management platform.
RouteOne is the first partner to be integrated with
DominionDMX's advanced integration capabilities following the announcement of
DominionDMX in December.
"Dealers, car manufacturers, and consumers will benefit from
seamless integration of solutions from both companies, leading to a better
consumer lending experience, faster processing between dealers and lenders, and
more efficient dealership operations," said John Reed, vice president of
Dominion DMS for Dominion Dealer Solutions. "We are pleased that RouteOne is
the inaugural partner for DominionDMX."
Jurecki added, "The integration between RouteOne and
DominionDMX will enhance dealerships' efficiencies, improving the speed and
effectiveness of their F&I activities so they can sell more vehicles in
less time at a higher profit.
"Our strategic relationship with DominionDMX will help us
both provide an improved selling experience for our dealer customers in 2013
and beyond," Jurecki went on to say.
RouteOne with its portfolio of credit, indirect lending, and
other services will be the primary finance partner for DominionDMX.
Dealers requiring additional information may contact
RouteOne customer support at (866) 933-0663 or customersupport@routeone.com.
RouteOne, LendingTree Autos Make Agreement
In other news, RouteOne entered into an agreement with
LendingTree Autos to enhance the online retail experience for dealers and
consumers.
Officials explained the online retail solution will enhance
consumers' experience in buying or leasing vehicles through RouteOne's existing
dealer channel. Consumers will be able to make vehicle selections from
inventory, estimate monthly payment information with the ability to adjust the
down payment and term, and apply for financing with dealers that participate in
the program.
Meanwhile, dealers can automatically obtain a FICO score,
determine preliminary trade-in valuation, estimate fees and taxes, and manage
the credit application process through their existing set of RouteOne tools.
Dealers can also communicate application status information to consumers in
real time.
"Our agreement with LendingTree Autos provides our
dealership customers with another option to broaden their customer pipeline," Jurecki
said. "Dealers can utilize their indirect financing channel while extending
their value proposition to a wide variety of online customers, creating a
solution to compete in the online marketplace and increase their profit
opportunity. We are proud to work with LendingTree Autos in this effort."
LendingTree Autos vice president and general manager Rick
Finch stated, "Our agreement with RouteOne will allow us to further streamline
the automotive purchase process for consumers, removing the hassle, improving
the experience, and saving time for both the car buyer and the dealer.
"On www.lendingtreeautos.com, consumers will be able to
trade-in their vehicle, compare listings from dozens of local dealers, request
financing, and even receive and accept offers," Finch continued. "Essentially,
car buyers will be able to do everything online, except for test drive, sign,
and drive the vehicle away."
RouteOne, SourceHOV Announce Strategic Alliance
RouteOne formed a strategic alliance with SourceHOV LLC that
will create a new paperless document imaging process for RouteOne's finance
source customers.
Officials said RouteOne's imaging solution is combining with
electronic document management to facilitate a paperless process for dealers
and finance sources through the conversion of paper documents into electronic
images.
"The RouteOne imaging solution is an ideal first step for
dealers and finance companies that have not yet implemented full eContracting,
but want to leverage paperless processing," Jurecki said.
"This paperless procedure can be quickly deployed,
expediting the contract funding process as a whole," Jurecki continued. "We
view this as a logical step in the progression toward a comprehensive
industry-wide eContracting solution. We are proud to work with SourceHOV on
such an innovative and much-needed solution in the industry."
SourceHOV chief executive officer Steve Grieco said, "We are
excited to be working with RouteOne to help dealers and finance companies work
with the paper that is prevalent today, while providing a roadmap to a
paperless future.
"Our hybrid solution securely digitizes physical documents,
adds and validates key data, and integrates the electronic output directly into
lending systems, typically before the start of business — saving potentially
days in processing loans," Grieco went on to say.
100 Dealer Service Providers Now Integrated with RouteOne
Platform
In wrapping up recent company news, RouteOne announced that
100 dealer service providers (DSPs) are now integrated with its credit
application management platform.
RouteOne's open integration/dealer choice model can provide
dealers the ability to select integration from their choice of service
providers, including F&I menu sellers, CRM systems, dealer management
systems, credit bureau providers, and lead providers.
DSP integration can eliminate duplicate entry into multiple
systems and expedites and simplifies the credit application process by
facilitating the real-time exchange of information between the DSP and the
dealer.
"RouteOne's open integration model offers dealers the
solutions they need to streamline their sales process and drive efficiencies
within F&I," Jurecki said.
"Our growing combination of best-in-class service providers
surpasses any proprietary offering in the marketplace," he continued. "We are
committed to providing our dealers with broad choices within the current
marketplace of providers, rather than limiting them to a pre-determined set of
proprietary products."
Continue the conversation with SubPrime Auto Finance News on LinkedIn and Twitter.