February 2016 Finance Source Newsletter | RouteOne LLC

February 2016 Finance Source Newsletter

Finance Sources are switching from traditional workflows to eContracting! Within the RouteOne Finance Source February Newsletter, you will gain a better understanding of why finance sources are making the change! Plus, you will get informational tips on the RouteOne Payoff Quote, RouteOne compliance webinars, system enhancements, security tips, and more!

Make 2016 The Year For Change!

More finance sources are making the change from a traditional workflow to eContracting, and for good reason!

Don't let your finance source get stuck behind the competition in a traditional workflow. Both dealers and finance sources reap the technological benefits of what RouteOne eContracting has to offer. To help you determine what ways your finance source would benefit the most, take a look at our comparison chart between the traditional workflow and the benefits gained by eContracting!

eContracting provides several key benefits to support the growth of your overall business. In 2015, nearly two million eContracts were booked through RouteOne, and you can also start accepting eContracts through any of the three avenues below:

For more information on eContracting contact your Account Manager or RouteOne Support at 866.768.8301. 

Share Payoff Quote Information In Real-Time Without The Need Of Costly Help Desk Calls!

According to MetricNet, the average cost per service desk contact is upwards of $20 per call.*

In effort to reduce the amount of help desk calls, RouteOne provides finance sources a complimentary tool that automatically supplies dealers payoff quote information directly within the RouteOne system! The RouteOne Payoff Quote tool reduces the number of help desk calls by automatically providing your dealers real-time payoff quote information, eliminating the need to call in.

*HDI - Discover a New World of Knowledge

What Compliance Laws Are Dealers Required To Obey?

On March 9th, RouteOne will be hosting a compliance webinar, '2016 FTC Update' to help dealers get up to speed on the latest in compliance. Although, the webinar is focused towards dealers, the registration is available for finance sources interested in learning more about the FTC. This may be a good opportunity for your finance source to get a better understanding of some of the laws and regulations dealers are required to follow during the vehicle financing process.

Future Availability of Arbitration Forms for eContracting

RouteOne is starting to release arbitration language forms!

Today, finance sources in several states now have the option to use this form, including: Arizona, California, Delaware, Georgia, Maryland, Nebraska, New Hampshire, New Jersey, North Carolina, Pennsylvania, Rhode Island, Texas, Utah, Vermont, and Wisconsin.

If your state is not yet available and you're interested in receiving the arbitration version of the LAW contract, please contact your RouteOne Account Manager.

Communicate With Dealers Even More Efficiently!

Finance sources that use RouteOne eContracting, can now communicate with dealers in real-time through the Text Messaging feature.

This feature provides a quick path to rehash and confirm contract changes, creates an audit trail of all associated communications, and comes at no cost from RouteOne! To start communicating with dealers via text messages today, contact your RouteOne Account Manager to learn how to get started today.

Know Exactly When Your Files Have Errors So You Can Fix Them

Now you can get email notifications each time your Payoff Quote or Dealer Reserve files have an error status, or fail to process.

To start receiving email notifications when this happens, reply to this email with email addresses to which you wish receive these alerts.

If you have questions regarding this new notification option, please contact your RouteOne Account Manager.

Security Tip: Keeping Your Computer System Safe

Preventative maintenance for your car can avoid many problems and ensure safe transportation. Similarly, doing preventative maintenance for your computer system can avoid many potential problems and avoid hazards. 

Keep Patches Up to Date
Hackers generally use known vulnerabilities to launch attacks on computer systems. Hackers are taking advantage of the fact that many computer systems are not regularly updated or "patched." According to the Verizon 2015 Data Breach Investigations Report, "99.9% of the exploited vulnerabilities were compromised more than a year after the CVE [common vulnerability and exposure] was published". These vulnerabilities cannot be exploited if your computer system patches are up to date. Don't become a victim! Talk to your network administrator to ensure that patches are applied regularly - this can prevent many attacks.

Use Anti-Virus Software and Update the Signatures Regularly
Viruses are another area where many of the attacks have already been identified. Keeping your anti-virus software up to date and using current signature files can prevent many problems. You Aren't in This Alone. The United States Computer Emergency Readiness Team, US-CERT, is one of many sites that provides plenty of information that you can use to help defend against cyber-attacks. It is presented in a manner that doesn't assume that you are a computer expert. There is an email subscription option to send you security alerts, tips, and other updates. The Home and Business page has a lot of useful information. Many of the companies providing computer security software or services also provide a wealth of information to help you avoid being a victim of cyber-attacks. Sites like the CSO Online Daily Dashboard provide information on current threats. And you can always research information on the internet when you suspect something isn't right with your computer system.

Conclusion
Cyber-attacks shouldn't be minimized and there is a lot you can do to protect your computer system. By taking an active role in protecting your computer system, you can avoid the majority of cyber-attacks out there.

Upcoming Events

Visit RouteOne at the following events:

  • National Automobile Dealers Association (NADA) Conference & Expo - March 31-April 3 in Las Vegas, NV (Booth #929C)
  • 20th Annual Non-Prime Auto Financing Conference (NAF) - June 1-3 in Plano, TX

Follow #RouteOneEvents for more information on NADA, and NAF events!

Welcome Aboard!

The following finance sources now support eContracting within RouteOne:

The following finance sources now support the Payoff Quote feature: