As the owner or operator of an auto dealership, you have several responsibilities you must juggle each day. Between communicating with customers, managing insurance notices, running compliance checks, and more, it is easy to become overwhelmed and unorganized without the right loan management system in place. With loan management software, you can streamline operations and simplify your daily responsibilities to reduce overhead, save time, and increase profitability.

At Verifacto, we provide innovative products that guarantee compliance and reduce risk.

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Almost every dealer uses a dealer management system. It is vital to running your business. The more technology a DMS can provide usually equates to more efficiencies and ultimately more profit for your business. However, most DMS lack the technology that is needed to give you the tools to maximize efficiencies in your business. The difference between a DMS and smart DMS can be determined by what the DMS allows you to do.

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As an auto lender or insurance company, one of the greatest challenges you face is risk management. The reliability of your borrowers is not always guaranteed and if they are late or delinquent on their car loan payments, you have the potential to lose significant profits. So, how can you best mitigate this risk to protect your investments? With our auto loan collection system, you can use our exceptional PayMinders feature to enhance your communication and collection efforts to ensure the financial future of your business is secure.

With the help of Verifacto, your auto loans will be repaid in an efficient and timely manner.

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If you are an auto dealer, auto lender or insurance company, one of the best decisions you can make for your business is to invest in auto insurance tracking. It not only helps to increase your profits and mitigate risk, but it allows you to effectively track insurance coverage, automate your customer communications, easily store and pull reporting and so much more! However, not all auto insurance tracking is created equally. You want to ensure you choose the right software that meets the needs of your business. With our intuitive technology and premium features, when you choose our software, you are guaranteed to have the most advanced insurance tracking solutions in the industry.

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Today, the overwhelming majority of new car buyers set up their financing through a dealership, which in turn forces lenders to search for the right dealer management system (DMS) to handle all of their business needs. However, as your business grows so does your list of needs and expenses.

A dealer management system still might manage to work fine in some cases, but the reality of it is that a loan management system (LMS) is far better suited for lenders both big and small. There are a number of advantages a loan management system has over an out-dated dealer management system, most notably coming from the fact that an LMS utilizes a modern cloud platform which provides a seamless customer experience and superior decision-making accuracy.

Interested in taking a more in-depth look at all of the key advantages a loan management system can offer? Verifacto’s proprietary LMS was specifically designed for car dealers to fully manage all of their loans from top to bottom. Before fully diving into the benefits of an LMS, let’s examine the differences between a loan management system and dealer management system and why lenders who still use a DMS for managing car loans could be holding back their business.

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