If you have an indirect lending program chances are you’re wasting a lot of time and money shuffling papers. Your dealers are probably sending you funding packets by some sort of courier service. This costs a lot of money, and it drags out the time until they get paid. When the packets arrive at your office for funding, more time is wasted shuffling through and sorting the documents, then scanning everything and then shredding the papers that you didn’t really need in the first place. According to Business.com, employees waste up to 18 minutes searching for documents needed for collaborative efforts but creating a single document that many can access for their various needs streamlines the process tremendously. No multiple, clunky email exchanges and trying to determine which version is the most recent. Businesses, like your credit union and your dealerships partners want to be able to access documents electronically. Allegro Lending Suite has answered the call.
Our DigiDocs electronic documentation system enables a dealer to upload document images to a specific deal in Allegro™. DigiDocs is also integrated with the RouteOne and Dealertrack electronic documentation systems. DigiDocs is just one piece of the Allegro Lending Suite that creates efficiencies in an easy-to-use platform, so lenders can compete more effectively.
Here’s how easy it is to use:
- A dealer can choose to upload digital images right into a deal file in Allegro™ using a secure passcode (If the dealer hasn’t yet arrived in the digital era, he can even fax paper documents using a unique data matrix code generated by Allegro™, which are then transformed by Allegro into digital images).
- A red popup notification lets the lender know a new deal is ready for review in the DigiDocs queue. Once the deal is funded, rejected or sent back for additional action by the dealer, it is removed from this review status.
- Once it’s been viewed, a document status icon will let the loan officer know if the deal has been reviewed, accepted or rejected.
- The DigiDocs viewer tool was specifically designed to make the review, audit and funding process faster and more efficient. You can even preview and sort the pages to place them in your preferred order!
- Each document can be assigned a name and accepted or rejected by the reviewer. Reviewers can leave notes on accounts regarding issues during the process.
- Once the loan is funded, the viewer is closed, and the document package can be placed in the DigiDocs export queue, enabling the processor to send the accepted images directly to the lender’s electronic data storage system with just a few clicks. No scanning. No shredding. No wasted paper or time! In addition to business efficiencies, electronic documentation reduces paper usage and energy consumption employed by fax machines, scanners and copiers, so you can feel good about doing good business wisely.