Chrysler Financial Celebrates Technological Milestones
FARMINGTON HILLS, Mich. — Chrysler Financial recently announced its automated contract origination process has reached several industry breakthroughs.
Early this year Chrysler Financial completed a series of enhancements to its AutOrigination product to enable additional dealer service providers to seamlessly integrate.
This industry exclusive contract data validation system edits more than 300 fields and guarantees that a contract is valid at the point-of-sale, eliminating costly errors and embarrassing customer issues, officials explained.
It is now available through 12 dealer service providers, covering nearly all Chrysler, Jeep and Dodge dealerships.
"Our 2008 goal is to AutOriginate more than 90 percent of all contract volume and process 25 percent of that volume through eContracting," pointed out Kelly Mankin, vice president of marketing for Chrysler Financial.
According to Chrysler Financial, it is the only U.S. auto lender to offer a data verification system that can support both retail and lease transactions.
Paperless technology for Chrysler Financial retail and lease transactions is now available to Chrysler, Jeep and Dodge dealerships in all 50 states through CF Connect.
Dealers simply need to contact their dealer relations manager to request a start-up kit and initial in-dealership training, executives highlighted.
"With the national rollout of this technology, F&I managers now have another industry-first, the ability to provide customers their account number and first payment coupon at the point-of-sale," said Mankin.
Digital eForms First
The company claimed it is the U.S. auto lender to receive electronic deal packages from several dealers using CF Connect eContracting and ADP's Digital Contracting solutions.
Chrysler Financial enables eSigning of the retail installment contract or lease agreement, while ADP facilitates electronic signatures for nearly all the remaining forms to create a complete, signed electronic deal, the company said.
For more information on ADP's Digital Contracting solution, visit www.DealerSuite.com/contracting.
"Thinking of customer satisfaction and the elimination of unnecessary paper processing, we developed two ways to quickly obtain the eContract package via 'eFax' or ADP's Digital contract solution," Mankin indicated.
"Reducing the time it takes to book an eContract increases dealer satisfaction, cash flow and most important, eliminates post delivery customer re-contracting," he continued.
The supporting forms for eContract can now be faxed to eliminate dealer shipping costs and further decrease the number of days to contract booking.
"eFax and forms technology provides considerable long term dealer benefits, so it's important to develop and offer as many alternatives as possible," Mankin added. "With RouteOne, we have plans to expand our current eContract, eFax/forms pilot to additional states."
Additionally, this technology will be applied to the complete Chrysler Financial enterprise, including Chrysler Financial Canada and the extended Americas region in the future, officials concluded.