3 Reasons to Use E-Signature Solutions in Automotive Retail

Mary Ellen Power, February 13, 2015
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Sales workers in the automotive sector need to deal with many of the complexities and regulatory challenges that come up in the real estate industry, but they must pack this complexity into a relatively quick transaction. The process of purchasing a home often takes weeks, while a person going to an auto dealer often leaves with a car that same evening. The result is a situation in which the sales process can easily overwhelm shoppers, leaving sales associates to try and make everybody feel comfortable while ensuring they have a clear understanding of everything that is going on.

Electronic signature software solutions can simplify the sales process for both auto retailers and customers, leading to significant value creation. Three reasons automotive retailers should consider e-signature platforms include:

 

 

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1. Improve the customer experience
Engaging consumers in more intuitive ways in a variety of industries, and creating a more user-friendly sales platform can pay dividends when interacting with customers. As more people become accustomed to using smartphones and tablets to perform a wider range of tasks, they are beginning to expect digital technologies to begin dominating a variety of their experiences. Presenting contracts, financial details and nuances of the vehicle a person is looking at via tablet can make the customer more comfortable.

2. Reduce expenses
Paperwork is costly. Printing documents, often multiple copies of large contracts, gets expensive quickly. Very few documents actually need to be retained in paper form, and auto retailers that transition to e-signature solutions can position themselves to reduce costs dramatically over time, despite the initial expenses that come with transitioning to a digital systems.

3. Create simplicity
This ties back into the customer experience issue we already discussed, but it is important to realize that large paper documents can be overwhelming to consumers. They create complexity as people need to make sense of what they are seeing, understand the distinctions between different types of paperwork and identify all of the correct places to sign. An e-signature process can present critical information to users in a more intuitive way, capturing their intent without overwhelming them with complex paperwork.

All told, moving to electronic signatures and other digital technologies makes buying a car more accessible for the consumer, creating a simpler sales environment for the auto retailer. Auto dealers that want to make full use of e-signatures need to make sure they are authorizing user identities correctly, something that should be second nature as authorizations are key in the car sales process anyway. Check out our white paper on e-signature authentication to make sure you have all your bases covered when implementing a solution.