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)
The RouteOne Customer Support Team will lead the trainings on 2/28, 3/1, 3/6, 3/8, 3/13, 3/15, and 3/20. 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.
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.