Chrysler Financial on Tuesday said its automated contract origination process, ‘eContract’, has reached three implementation milestones: first US automotive lender to offer both retail and lease electronic origination; over 1,000 eContracts booked; and over 100 dealers using eContracts in 11 states.
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“With the pace of today’s business environment and consumer lifestyles, our dealers have asked us for a flexible and customised point-of-sale system,” said Chrysler Financial vice president William Jones. “We expect to have 1,000 dealers using eContracting by the end of this year and another 1,000 by the end of 2007.”
Several years ago Chrysler Financial began using ‘AutOrigination’, its contract verification system. This is used by about 80% of Chrysler group dealers in the US and is described as the ‘pulse’ of the eContract system.
“The early acceptance of this technology uniquely positions Chrysler Financial as an industry leader in automating the customer contract process, and allows us to take the next step in automating the loan process,” said Kelly Mankin, head of Chrysler brands marketing. Because contract errors are a major source of customer dissatisfaction, we launched AutOrigination to validate all contract data and detail before the electronic contract process begins.
“Our goal is to completely eliminate contract errors, which will drastically improve customer satisfaction.”
Mankin added that while the launch of the eContract system is a significant technology milestone, it is one of many initiatives scheduled to arrive in dealerships over the next few years in a claimed “first-in-class and industry leading point-of-sale dealership technology strategy”.
The technology will also be used across all areas of the DaimlerChrysler Financial Services operation including Mercedes-Benz Financial in the US and Canada, Chrysler Financial Canada, DaimlerChrysler Truck Financial in the US and Canada and the extended Americas region in the near future.
