RouteOne is offering dealers FREE training on the new Compliance Dashboard functionality within RouteOne. We are offering daily webinars through Thursday, 2/23. Register today!
RouteOne Compliance Dashboard Webinar (2:00 p.m. EST)
RouteOne National Business Development Manager Scott Johnsen will lead the training and review on Thursday 2/16 and Friday 2/17. Team members from the RouteOne Customer Support Team will lead the trainings the week of 2/20 (2/20 – 2/23). The RouteOne team will help you:
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Establish an understanding of actions that may be taken in the RouteOne Compliance Tab
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Set up system preferences in the RouteOne system
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Complete an action within the system in regards to:
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Identity Verification
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OFAC
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Risk-Based Pricing Rule – Credit Score Disclosure Notices
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Dodd-Frank Adverse Action Notices
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Run Compliance Reports within RouteOne
To reserve your spot, please visit www.routeone.com/DashboardTraining.
Questions? Contact RouteOne Customer Support at 866.933.0663 or customersupport@routeone.com.
During NADA 2012, hundreds of dealers and dealership employees visited the RouteOne booth to catch a demo of the new RouteOne Compliance Dashboard. The Compliance Dashboard will be available to dealers in mid-February 2012. This free tool allows a dealer the ability to visually evaluate their compliance status within RouteOne, including assessment of Identity Verification, OFAC, Risk-Based Pricing / Credit Score Disclosure Notices, and Adverse Action Notices.
Dealers may view transactions at a dealership or individual user level, and may customize the categories they wish to track and monitor.
Compliance is a significant issue within the dealer community, and many dealers expressed concern regarding the growing complexity of rules and regulations within the F&I office, particularly how challenging it can be to manage compliance duties within the dealership. RouteOne was pleased to demonstrate to dealers its comprehensive compliance suite, designed to assist with managing compliance and staying ahead of government regulations. In addition to the Compliance Dashboard, RouteOne offers identity verification, electronic document storage, Adverse Action/Credit Score Disclosure notices, and more.
Dealers interested in personalized training on the Dashboard or other RouteOne features may contact their Business Development Manager or RouteOne Customer Support at 866.933.0663.
RouteOne has served as an industry leader in the online credit application management space, helping automotive dealers and finance sources to enjoy a faster, more efficient credit application process. The services that RouteOne provides have helped automotive dealerships sell more vehicles and have also provided finance sources a channel to grow their business. RouteOne continues to build upon the list of active finance sources on the platform.
Many used car dealers have also taken advantage of the tools available on RouteOne. RouteOne is currently growing its lender base within the used car niche. The combination of a strong used car market and a large number of participating finance sources makes RouteOne an excellent platform for both franchised and used car dealers.
RouteOne offers a host of useful features to its finance sources, all of which enhance the dealer user experience:
- eContracting
- Rates and Forms
- Reporting Suite
- Payoff Quotes
- Dealer Reserve Reports
- Vehicle Values
- Text Messaging
- Contract Status
- Deal Refresh
Using these tools enables a truly integrated process between the dealer and finance source, while maximizing customer satisfaction.
If you are a finance source interested in participating on the RouteOne platform or a dealer interested in viewing existing active finance sources on RouteOne, please click the appropriate button below and complete the form as directed.
Phishing
Phishing is a form of social engineering. Phishing attacks use email to solicit personal information by appearing to come from a trustworthy company or organization. For example, an attacker may send an email that appears to be from a major credit card company, financial institution, or someone you know. The email will often ask the user for personal information such as user ID and password or provide a link to a bogus website (which appears to be a valid website) asking for the same information. Phishing attacks may appear to come from other entities that take advantages of the following:
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Natural disasters (e.g., Hurricane Katrina, Indonesian tsunami)
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Epidemics and health scares such as H1N1
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Economic concerns, IRS scams or bank failures
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Major political elections
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Holidays
Precautions to take
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NEVER provide anyone your user-ID and password, for any reason; RouteOne will never ask for this information, updates to the RouteOne website are accomplished through our software releases.
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Do not give out employee or other information from unsolicited phone calls or emails. Verify where the caller is from and, ask for a name and phone number. Research the company and validate the person's employers. Valudate the phone number.
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Never provide personal information or information regarding the company’s network unless you are certain that the person should have the information.
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Never provide personal or financial information in an email or by clicking on a link.
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Never click on a link in an email. Pay close attention to the URL; most will use a variation in spelling or a different domain (e.g., .com vs .net or .co vs .com).
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Install and maintain anti-virus software, firewalls, and email filters to reduce some of the phishing emails.
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Never leave confidential information in view of the general public. If you leave your desk, put papers in a locked cabinet and lock your computer.
If you think that you might have revealed sensitive information about the organization or the employees, report it to the appropriate person within your organization. Immediately change all passwords for each logon account. Consider reporting the event to the police and file a report with the Federal Trade Commission (http://www.ftc.gov/).
Social engineering
Social engineering is generally a hacker’s clever manipulation of the natural human tendency to trust. The hacker’s goal is to obtain information that will allow him/her to gain unauthorized access to a valued system and the information that resides on that system. It is also used to gain access to a physical area where confidential information is kept in paper form.
Security is all about trust. Trust in protection and authenticity. Social engineering preys upon the natural human willingness to trust and accept someone at his or her word; this leaves many of us vulnerable to attack and is generally agreed upon as the weakest link in the security chain.
If you think that you might have revealed sensitive information about the organization or the employees, report it to the appropriate person within your organization. Immediately change all passwords for each logon account. Consider reporting the event to the police and file a report with the Federal Trade Commission (http://www.ftc.gov/).
Spyware
Spyware refers to a category of software that when installed on your computer may send multiple popup windows, redirect your browser, or monitor the websites that you visit. There are invasive versions of spyware that may record your keystrokes (called key loggers) and will capture your sign-in credentials for sites that you have access to.
The following symptoms may indicate that you have downloaded spyware and it is installed on your computer:
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You are getting endless pop-up windows
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You type in a web address and get re-directed to a different website
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New unexpected tool bars are in installed on your browser, or new icons appear in the task tray on the bottom of your screen
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The search engine you use opens a different browser or page than what was intended
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Certain keys do not work in the browser (e.g., tab key doesn’t work moving field to field)
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Random windows error message, begin to appear
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Your computer suddenly seems very slow when trying to open documents or programs
Preventive Measures for Spyware
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Don’t click on any links within a pop-up window. To close such a pop-up window click the X on the title bar instead of “click here to close.”
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Choose no or close the pop-up if an unexpected dialog (pop-up) box appears asking if you want to run a particular program or perform another type of task. Always close the dialog box by clicking the X on the title bar; if that is not available, answer no or cancel.
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Be wary of free software downloads. Many sites offer customized toolbars or other features. Never download software from a site you do not trust; you may be exposing yourself and your computer to spyware by downloading free software.
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Don’t follow email links claiming to offer anti-spyware software – like email viruses, this may service the opposite purpose and will install spyware on your computer.
Removing Spyware
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Run a full scan on your computer using the anti-virus software that you or your network engineer has installed on your machine.
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Keep your anti-virus software current by downloading updates from their site (e.g., Norton or Symantec)
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Run a legitimate product designed to detect and remove spyware.
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Make sure your anti-virus and anti-spyware software is compatible with each other.
For more information on Social Engineer, Phishing, Spyware and other security threats please visit the United States Computer Emergency Readiness Team at http://www.us-cert.gov/cas/tips/
Many finance departments maintain a Finance and Insurance (F&I) Log. The F&I Log can serve as a high-level ‘score card’ for finance managers, as it stores important information about each vehicle transaction. The most common categories in an F&I Log can include:
- Sales Gross per unit
- Finance Reserve per unit
- Life Insurance
- Disability Insurance
- GAP
- Service Contract
- Other Aftermarket Products
- New/Used
- Cash
- Lender
Maintaining an accurate F&I log is helpful when auditing pay plans, reviewing lender performance, and reviewing performance with F&I trainers.
Preferences for storage of these logs vary – some are kept on paper, in an Excel worksheet, within a web-based system or within the dealership’s DMS. If your dealership utilizes RouteOne and the DMS integration we offer, you can enjoy automated data population of your F&I Log, as the system will populate this report directly from accounting on all finalized deals. The automated F&I Log and Performance Report provides insight into a dealership’s profit (average profit per contract and profit per vehicle retailed) and penetration for each F&I Department, F&I product, F&I Manager, and/or salesperson. Dealers may compare segment performance between new/used/car/truck or retail/lease/balloon/payment call.
A free manual utility is provided for those dealers not utilizing DMS integration. Try using the F&I log within RouteOne to keep score of your Finance Department.
RouteOne will host two informative and educational webinars in December. Please join us December 13, 2011 for the second in this webinar series, focusing on social media. Dealers and Finance Sources welcome.
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Join RouteOne and Kathi Kruse, automotive social media expert, for a fascinating webinar on the new social economy and how to take advantage of social media to create more interest and profit in F&I. Kathi is the founder of Kruse Control Inc., an award-winning social media coaching and training company that assists dealerships in using best practices and creative new ideas to generate higher profits. Car buyers spend many hours online researching their next vehicle, and many say a referral from friends & family influences their decision. Word-of-mouth has always had influence on the way your customers buy. Social media is word-of-mouth...digitized.
In this timely webinar, you’ll learn how retail automotive has shifted toward the social customer and the implications of this for the 2012 Finance Department. We’ll discuss some best practices for marketing on social and other platforms, and how to maintain a great online reputation. We’ll also discuss
• Powerful ways to grow your business
• The most useful marketing platforms for the F&I Department
• Winning marketing strategies to generate leads and increase conversion rates
• The importance of developing staff to support your social media strategy
• The risks of ignoring your online ratings and what you can do about it
• RouteOne features and tools that will help you integrate these strategies and take your store to the next level
Don’t miss this Webinar! You’ll take away valuable information that you may use immediately. The Social economy is here. Register now!
RouteOne will host two informative and educational webinars in December. Please join us December 6, 2011 for the first in this webinar series, focusing on bank fraud. Dealers and Finance Sources welcome.
The Realities of Bank Fraud: What a Dealer Needs to Know presented by Gil VanOver of gvo3 and RouteOne
Bank fraud at automotive dealerships has become a serious issue. From straw purchases to power booking, falsifying down payments to falsifying information on credit applications, these forbidden practices can jeopardize the health of your dealership.
Please join RouteOne and Gil Van Over, President and Founder of gvo3 & Associates, as we discuss the implications of bank fraud in the auto industry. Gvo3 & Associates specializes in developing and implementing compliance strategies within the F&I and Sales departments of automotive dealerships.
Gil will explain the four types of dealership bank fraud and its impact on a dealership. He will also share real-life examples of dealerships around the country that have experienced bank fraud firsthand. Finally, Gil will share best practices you can implement to help prevent bank fraud from occurring in your dealership.
After Gil’s presentation, RouteOne will offer a short presentation on security features and tools that may be used to help prevent fraud and theft within the dealership. We look forward to your attendance. Don’t miss out on this valuable session – register today
What is a dealership management system and why should it connect to RouteOne? A dealership management system (DMS) is an information system created specifically for automotive dealerships to capture information relating to Sales, Parts, Service, Finance, and Administration. Integration between RouteOne and the DMS creates more efficiency within a dealership’s sales process.
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RouteOne has developed a true dealer choice model, providing open access to multiple dealer management systems, allowing dealers the option to select which service providers best meet the needs of their business. It is the most comprehensive in the industry.
Benefits of integrating your automotive management system to RouteOne include:
- Eliminate duplicate entry into multiple systems
- Exchange credit application and decision information between your dealership management system (DMS) and finance sources in near-real time, simplifying and improving the credit application process
- Send the application from your automotive dealer management system to RouteOne for finance source submission
- Return the credit decision received from the finance source from RouteOne to your automotive dealer management system
- Originate an application in RouteOne, send it to the automotive dealer management system to populate customer screens, and work the deal further
- Get a concise yet comprehensive view of your dealership’s finance department and lender performance to pinpoint new opportunities for growth and profit
Download the list of integrated dealership management systems (DMS) by selecting the button below. Don’t see your DMS listed? Contact us at 866-933-0663.
