2005 NADA: ADP Dealer Services Launches F&I eForms Library
- New Offering Plays Vital Role in Delivering Comprehensive Electronic Solution for F&I Document Management -
HOFFMAN ESTATES, Ill., Jan. 29 -- The Dealer Services Group of Automatic Data Processing Inc. today announced the launch of its F&I eForms Library. The eForms Library is a Web-based collection of electronic F&I forms that cover all facets of the F&I process, including a standard set of dealer forms, lender forms, manufacturer forms, state forms and other third-party forms.
In addition to providing a robust set of forms, the F&I eForms Library delivers easy-to-use features that make it simple to find new or updated F&I forms, utilizing search parameters that include vendor, type of form or even state. Once accessed, the forms can be selected for download to ADP's dealer management system (DMS). Dealers can even sign up for subscriptions that will notify them each time a form is updated by a particular vendor.
F&I eForms Library is part of ADP's comprehensive F&I electronic document system that also includes F&I LaserStation, an output device that produces professional-grade documents with the speed and ease-of-use delivered by laser printing.
"The use of electronic documents and laser printing within the F&I office will improve dealership CSI scores and increase F&I up-sell opportunities. The F&I eForms Library plays a vital role in this process by providing an immediate and reliable source of electronic F&I forms to the DMS," said Kevin Henahan, senior vice-president of marketing for ADP Dealer Services.
"We are very excited about the forum that ADP's F&I eForms Library will provide for our motor vehicle retail contracts. By being part of the powerful and easy to access offering on the eForms Library, we can increase automotive dealership adoption of our own forms. We also can manage risk in a flexible and efficient way that helps streamline their deals," said John Bryant, vice president of Bankers Systems Inc.
"ADP eForms Library provides a powerful forum for BANCO offerings including retail installment contracts and automobile leases. We recognize that this is the future and ADP has taken the lead in e-contracting," said Tom O'Connor, vice president and national accounts manager of BANCO. "We anticipate a tremendous increase in the adoption of the BANCO contract at ADP client dealerships, but the most important and immediate benefit will be in the fast, efficient completion of the sales/finance process and the increased customer satisfaction with their car buying experience."
ADP's eForms Library contains the documents necessary to complete any facet of the deal:
Dealership Forms
Through ADP's DealerCap alliance, a set of commonly used dealer document forms is instantly available and enables dealerships to replace or augment their existing documents. In addition, customized laser versions of preferred dealership forms are available.
DealerCAP forms can assist dealership efforts in avoiding common paperwork errors commonly associated with motor vehicle transactions.
Lender Forms
A robust set of compliance forms made available from Bankers System and BANCO. These forms are generic retail and lease installment contracts that are accepted by banks nationwide. Additionally, individual lenders have posted their retail installment contracts along with their supporting forms, such as the Agreement to Provide Insurance and Notice to Co-Signer.
State Forms
Every state has their own set of forms for vehicle registration, power of attorney and even odometer statements. The F&I eForms Library currently contains state forms for over a dozen states, with more added each month.
Third Party Forms
Each third party product that is sold requires a different form. With F&I eForms library, dealerships no longer need to stock forms and can immediately select accurate forms directly from the F&I eForms Library for download to a DMS. Dealer employees can search for new warranty or security forms from within the F&I eForms Library.
Manufacturer Forms
A series of manufacturer forms covering areas such as leasing, insurance, extended service contracts and retail installment agreements.
"Our twenty year history of providing technology and imaging solutions to dealership F&I offices uniquely places ADP in a position to offer the most comprehensive F&I forms solution available today," added Henahan.
About ADP Dealer Services
ADP Dealer Services provides integrated computing solutions to 19,500 auto, truck, motorcycle, marine and recreational vehicle dealers throughout the United States, Canada and Europe. ADP Dealer Services is the third largest business unit of Automatic Data Processing, Inc. . ADP, with approximately $8 billion in revenues and 550,000 clients, is one of the largest providers of a broad range of premier mission-critical, cost effective transaction processing and information-based business solutions in selected markets on a global basis. More information on ADP Dealer Services is available on the Internet at http://www.dealersuite.com/.
ADP is a registered trademark of ADP of North America, Inc.