Automotive financing involves a lot of manual paperwork management that needs to be signed, duplicated, distributed, reviewed, approved, sent and archived. It’s a tedious process that takes time and slows revenue streams to pedestrian speeds. Documentation is most often faxed between dealers and financial credit organizations at a measurable cost. And much of the documentation contains sensitive customer financial data that if mishandled can at best put the brakes on credit approval, or at worst put customers’ financial information at risk.
HP Automotive Credit Application Accelerator is uniquely designed for more efficient and cost-effective capture and management of automotive finance and credit documentation. It consolidates copying, scanning, distributing and printing functions in a secure, networked environment that streamlines document management and helps reduce operational costs.
DHP Automotive Credit Application Accelerator at the dealer level simplifies credit request submissions, speeds up credit resolution times and helps improve customer service. This is vital. As any car salesman will tell you, the more hassle you can remove from the sale and the faster you can get a customer to sign, the more likely you are to close the deal.
At the financing group level, the same solutions speed credit review and approval time, streamline document management overall, enhance document traceability, make archiving more efficient, and help organizations comply with the increasing regulations regarding financial documentation.
Automated document capture happens directly at an HP MFP. Documents are sent to a scanning, indexing and routing engine for user-defined workflow distribution and archiving. Bar-coding can be implemented. And stakeholders at the dealer or financing group are instantly notified when distributed documents require action. With digitized documents, document quality is improved, errors are reduced and printing waste is minimized.
Document capture and management is something automotive dealers and financing organizations should consider to gain a competitive edge. HP Automotive Credit Application Accelerator is an IT enhancement that positively affects credit application times and operational costs for both organizations.
HP is recognized as the global leader in imaging and printing solutions for large organizations. HP offers technical expertise, and reliable products and solution sets that allow customers to benefit from: