Innovations can sometimes begin with the most straightforward ideas that end up transforming a process with better efficiencies and results.
RouteOne began, as most innovations do, to update and transform a current process. 20+ years ago, several industry professionals enthusiastic about the vehicle finance industry identified the need for a more transparent and consistent vehicle purchase experience for customers and dealers. The collaboration enhanced how dealerships and finance sources do business, making continuous updates along the way to meet the needs of the ever-changing marketplace.
Previously, consumers had limited options when shopping for a new vehicle. Walking into a dealership was the only sure way to explore finance options, trade-in values, and other car-buying tasks. But today, all shopping, including vehicle buying, can begin and end virtually anywhere - online, in-store, or a combination of both paths.
We help dealerships to enable customers to arrive at a virtual or actual doorstep from all possible channels: the dealer website, in-store, or wherever a consumer finds the business. Providing consumers the flexibility to engage in the manner they choose, but maintain continuity and data if they move between channels, helps create a smoother car-buying experience.
It's not enough to say you're innovative; you have to work and create products and solutions that constantly matter to your customers because your tools continuously help improve their current processes.
Innovation doesn't stop at creating one product or solution. We continue to evolve. What began as a faster way to accept and process credit applications has advanced to a full-fledged streamlined workflow at the dealership.
When a consumer chooses to finance a vehicle, they must apply for credit. RouteOne submits a consumer's online credit application to one or more finance sources for a decision. Data from that credit application and decision is automatically populated into a dealership's electronic contract, or eContract, to streamline the purchase process for the dealer and the car buyer.
Electronic contracting means dealerships collect signatures electronically as well. Advances in security and integrations have been the catalyst for several eSigning innovations that support various customer preferences.
For example, remote eSigning allows a dealer to send all deal documents electronically to customers and capture signatures remotely. Buyers can securely review and electronically sign a complete electronic document package, including all finance and insurance deal documents, from wherever they are.
From automating an electronic contracting process to educating consumers about the benefits of protection products, success can depend on your connections.
It helps to be connected to a central hub - a management system capable of connecting you with a multitude of partners – each of whom offers unique services that you can plug into to create a customer experience unique to your specific business strategies.
That's why innovative products and solutions should strive to be unique to individual business needs, not a one–size–fits–all tool. The ability to choose the path that works best for your business should be a crucial component of creating long-term innovation.
At RouteOne, our dedication is to provide innovative solutions to our customers and help them deliver on THEIR consumer expectations. That means continually evolving to solve industry challenges with flexible solutions that can be implemented to meet unique business needs.
To learn how RouteOne can help your business, reach out to your RouteOne Business Development Manager or call 866.768.830.
This content previously appeared on the dBusiness.com website on March 1, 2023.