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How a Loan Management System Can Help Your Dealership

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.

How a Loan Management System Can Help Your Dealership

One of the most substantial ways to improve operation at your auto dealership is by implementing an effective loan management system. This software will give your dealership the ability to manage the loan status of every customer and mitigate insurance risks on a single, easy-to-use platform.

 

  • Automate customer communications. Your dealership must have the ability to efficiently communicate with customers to properly manage insurance status and disperse notices or updates. However, without the right software in place, it is easy to lose track of customers and fall behind on communications. With a loan management system, your dealership can take advantage of AI-programmed communications that are designed to automatically reply to customers via text or email. This ensures that your customers will receive timely notices and maintain the proper insurance coverage, so your dealership is never at risk.

 

  • Store and maintain customer insurance records. When trying to track and upkeep customer insurance information manually, there can be human and error and important paperwork can get lost in the shuffle. With a modern loan management system, these issues can be avoided by utilizing the cloud. By storing and maintaining all customer records in the cloud, you will have peace of mind knowing every document you will ever need is just a click away. This also enables your dealership to run automated reports and create timelines to be notified of insurance expirations and upcoming cancellation dates.

 

  • Full and seamless integration. One of the most challenging aspects of upgrading your auto dealership with new software is integrating it with your existing platforms. However, with advanced loan management systems, you no longer have to worry about wasting hours trying to make your new software work for you. This system will work with CPI programs and existing insurance tracking to ensure you can open accounts and input information immediately and with ease.

 

  • Timely onboarding. Implementing a new software used to take months to be fully onboarded. However, with advanced loan management systems, your dealership can be up and running within a few hours to a few days so you can begin managing and monitoring customer loans as soon as possible!

Why Choose Verifacto’s Loan Management Software?

As one of the leading insurance tracking companies in the industry, Verifaco provides top-of-the-line loan management software with intuitive features that will help your auto dealership reduce insurance risks while maximizing profits.

 

  • Compliance checking

 

  • Smart collections

 

  • Effective communications

 

  • Quick onboarding

 

  • GPS tracking

 

  • QuickBooks integration

Invest in Verifacto’s Innovative Platform Today

With Verifacto’s loan management system, you can easily configure, manage, and maintain customer insurance records so you can focus on what matters most – operating your auto dealership.

To learn additional information about Verifacto’s loan management system and to schedule a free demo, call us at 678-783-8123 or contact us online.

At Verifacto, we will bring best-in-class workflow solutions straight to your dealership.

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