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By Chris McIntyre - January 18, 2017
Are you prepared when a regulator shows up to conduct an audit? You may want to think twice about where you put all your documents. Putting all those files into a file cabinet can end with a disorganized, cluttered and hard to navigate mess. When a regulator shows up, you want to be able to respond quickly, completely, and accurately. Failure to do so may give the impression that you are not fully engaged in the examination and are unprepared. If the files are stacked away in a closet or lost and you fail to provide requested documents during an examination, it will be seen as the wrongful withholding of books, records, and other information. Failure to provide the documents may get your license suspended or revoked.
Deal Pack has a built in feature called Digital Loan Jacket to help you with your recordkeeping. DLJ gives you the ability to drag and drop PDFs and other documents for the customer, vendor, inventory, and credit applications and then saves them for you safely and securely online. With DLJ you will always be ready when a regulator arrives, having all of your documents readily available at any given time. At the sale of a vehicle, there may be well over 10 forms that need to be signed. With all this paperwork floating around the desk it is easy to be misplaced or miss a signature. This special feature will help you stay well organized and focused. Staying well organized can help reduce the size or scope of random file sampling. DLJ could be the difference between keeping or getting your license suspended/revoked by keeping your documents organized and easily available.
Using the DLJ along with the DocuSign can also save you from being sued by customers down the road. When it comes down to Service Contract, Gap Contracts and VSI, customers feel that they are forced into buying it. Some of these customers may end up trying to sue saying they never wanted or signed for the products. Take Franco v. A Better Way Wholesale Autos, Inc. for example. Franco sued A Better Way for violating the Truth In Lending Act. The only thing the court had to determine was weather a box was checked on the Retail Installment Sales Contract. Because of alignment issues, the court had decided that the box was not clearly checked. With DLJ and DocuSign, you will never have to worry about alignment issues on your forms. All forms will be 100% compliant and saved to the DLJ so there will never be printing issues.
DLJ is also a great way for your business to save money, paper, and time. With the DLJ linked up with DocuSign, there is no need to print all those signed documents with the sale of a vehicle. The documents can be emailed to the customer for their records and saved to the customer file with the DLJ, saving you money and time. There will be no need to waste paper by scanning and printing the driver’s license to be filed away. You can now scan and drop it in the DLJ to be attached to the customer file. Not only will this feature save you on paper but it will also save on the printer, ink, and toner. DLJ is an easy way for you to save money, time, and errors.
Now is the time to eliminate that paperwork and start saving money. So let’s get on board with the DLJ to make your record keeping easy, safe, and readily available. For more information about DLJ and the rest of what Deal Pack Pro has to offer, please contact a Deal Pack representative at 800-526-5832.
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Advanced Business Computers of America (ABCoA) develops and supports end-to-end software solutions for the subprime finance industry. Since 1983,
we have helped automotive dealerships and finance companies eliminate duplication, remain compliant, and achieve success with dependable, all-in-one software and white glove service and support.
Deal Pack is a complete, all-in-one software ecosystem customizable to your exact needs and scalable to your exact size - helping improve your operations, grow your business,
and solve the challenges you face. Whether you are a finance or sales company, multi-entity or publicly traded company handling BHPH or LHPH, operating or capital leases,
internal or external floor-planning, retail, rentals, consumer loans, origination, or seasoned paper, Deal Pack is the dependable software for mission critical operations.
Deal Pack handles all of your business needs transparently – providing you measurable improvements and complete financial control, saving you time,
increasing your bottom line, and allowing you the freedom to focus on your daily operations. Deal Pack is relied upon by thousands of customers across
all 50 states in the United States and six countries around the world. Customers properly using Deal Pack have never lost an IRS audit.
To learn more about ABCoA, visit www.abcoa.com.