Self-Service Paper Out FOR DEALERS
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- Horace Carson
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1 Self-Service Paper Out FOR DEALERS This ebook discusses what Self-Service Paper Out is, why it is important, and how it can be used. Self-Service Paper Out 1
2 TABLE OF CONTENTS 3 Introduction Traditional Contract versus econtract Assignment 4 Manual econtract Reassignment Automated Electronic Contract Reassignment What Will a Papered Out Contract Package Contain? 5 What happens when I hit the Paper Out button? What will I need to give my Finance Source? 6 A Streamlined Process Self-Service Paper Out 2
3 Introduction You know that econtracting is quickly becoming the way of the future. But what happens when a deal starts in econtracting but can t finish there? The only option is to start over or make a support call, right? Not with Self-Service Paper Out. Self-Service Paper Out provides you with another, better, option for contract assignment. Traditional Contract versus econtract Assignment Paper contracts are designed to facilitate finance source assignment simply by typing in the finance source s name in the assignment section of the contract. This can be done at any time after the contract has been signed. In the paper world, flexible contract assignment is a common practice where any one of a number of finance sources may accept an unfunded, signed contract. While econtracting doesn t change the need for contract assignment, it does change your process. In an electronic contract system, the selection of the finance source for econtract assignment may be required before the econtract can be created; thus locking in, so to speak, the finance source for assignment. This practice of locking in the finance source may limit the use of the econtracting system for spot delivery transactions by limiting the flexibility of contract assignment to only one of a number of available finance sources. Self-Service Paper Out 3
4 Manual econtract Reassignment Due to locking in a finance source, if the dealer wished to assign an econtract to another (different) finance source, the ec system required the econtract to be converted into a paper original copy of the contract. This is done when an otherwise fundable econtract cannot be successfully assigned to the locked in finance source. A dealer could initiate a Convert to Paper Original in the RouteOne ec system or make a call to the RouteOne Service Desk to initiate the process. A RouteOne Business Operations Analyst would print the original copy of the contract, all supporting documents and send it via FedEx to the requesting dealer. The dealer would typically receive these documents within 1-2 business days from the time they made the request. Once the dealer received the paper original copy of the contract, it became available for assignment to another finance source. Automated Electronic Contract Reassignment The new and improved form of the process is called Self-Service Paper Out. It puts the power in your hands by enabling you to convert and print an econtract to a paper original copy of the contract instantly with a few mouse clicks. Now you can start every deal as an econtract to streamline your contracting process. Traditionally, if you were unsure that a contract would be accepted by the econtracting finance source you originally selected, you may have skipped econtracting and started with paper. Going forward, you can start your deals with an econtract and then simply convert to paper if it s rejected. What will a Papered Out Contract Package Contain? When an econtract is converted to a paper original copy, several documents are generated as part of the Paper Out contract package: Certificate of Original Document: a form that outlines the details of the terms of the Paper Out request and how the request was made within the system. Contract Package: the documents that are part of the contract, including the paper original copy of the contract, credit app, and all other ancillary documents. Contract Package Inventory: a list of the documents included in the contract package and the user that initiated the conversion. Document Activity History: a full audit history for the econtract, including date/time stamps of every action taken on the documents, as well as the user performing the action. Self-Service Paper Out 4
5 What happens when I hit the Paper Out button? After making the Self-Service Paper Out request, you will be presented with two pop-up Are-You-Sure screens on which you must take action to complete the Paper Out request. You will also have to review the Certificate of Original Document and check a box indicating that you have reviewed the document. Once you complete the 2 pop-up screens, the Paper Out request is sent to the econtracting System and the Paper Out process cannot be reversed; the Dealer can no longer go back to the econtract or assign the econtract electronically. Your dealership is then charged for the use of the LAW contract, as you would be charged if it was using an econtract or traditional paper contract. At this point, you are able to open a PDF of the contract package and print all the necessary documents. These printed documents are now considered Paper Out contract package and now can be assigned to another finance source. What will I need to give my finance source? Since this functionality is merely an enhancement to the process that already exists in RouteOne today, if you have been using Paper Out in the past, finance sources should not expect to see any differences in your contract packages. RouteOne has simply created a more efficient workflow for you by giving you this Self-Service Paper Out functionality. You are encouraged to communicate with your finance sources to ensure they accept Paper Out contracts. Self-Service Paper Out 5
6 A Streamlined Process Self-Service Paper Out benefits both you and the finance sources! For you, there is no longer a lag time after requesting a paper conversion of a contract package. We ve also taken away the uncertainty of whether to begin an electronic or paper contract. With the ease of Self-Service Paper Out, there is no longer the inconvenience of re-contracting if an econtract is rejected by your original finance source. RouteOne is continually making improvements to our platform to enhance the user experience and streamline the daily workflow. If you have any questions regarding Self-Service Paper Out functionality, please contact your RouteOne Business Development Representative or the RouteOne Support Team at Paper Out is a registered trademark of eoriginal. LAW is a registered trademark of Reynolds and Reynolds. Self-Service Paper Out 6
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