RouteOne is pleased to announce the availability of its Automated Document Classification, a powerful enhancement within The Digital Deal®. This feature enriches eContracting data quality and supports a broader objective: delivering a contract package that is complete, accurate, and funding-ready upon receipt.
Advancing eContracting with Machine Learning
Automated Document Classification uses machine learning and Optical Character Recognition (OCR) to identify and categorize documents that are not electronically originated within an eContract package based on content, not just file names or dealer input. It can also automatically split large files, improving accuracy and reducing processing time.
Key Benefits:
For Dealers: Simplifies the document upload process, saving time, and reducing errors.
For Finance Sources: Ensures required funding documents are submitted, reducing manual review times to minimize contract holds due to misclassified or missing documents.
Delivered at the Point of Sale: With RouteOne’s services being delivered real time with customers, dealers can solve customer document issues ‘real time’ reducing administrative follow up time for dealers and finance sources.
eContracting now accounts for more than 80% of transactions on the RouteOne platform between dealers and finance sources.
“The future of eContracting is not just about digitizing documents, it’s about optimizing the entire funding process,” said Jordan Snider, Sr. Manager of Customer Relationships at RouteOne. “With this enhancement, we’re helping our finance source partners expand the efficiencies we’ve enabled from making the finance contract fully data enabled to AI-powered identification and data extraction for the key documents in the funding package. This move from manual validation to intelligent automation will further streamline funding automation. This all takes place directly at the point-of-sale in RouteOne, enabling us to consistently deliver data-rich packages to our finance source partners and a more efficient process for our dealers.”
RouteOne’s eContracting platform enables finance sources of all sizes to receive accurate data and documents quickly. RouteOne delivers The Digital Deal eContracting service through their web-based interface - DiscountOne and eContracting-certified Loan Origination Systems (LOS).
As eContracting continues to evolve, RouteOne is committed to delivering intelligent tools that streamline operations, reduce friction, and accelerate funding for finance sources and dealers —right at the point of sale. For more information about RouteOne’s enhanced eContracting capabilities with The Digital Deal®, visit RouteOne.com.
The Digital Deal is a registered trademark of Open Dealer Exchange, LLC.