Archive | Product & Technology

Increase Efficiencies and Promote Compliance in F&I Product Cancelations

Increase Efficiencies and Promote Compliance in F&I Product Cancelations

Dealers, agents, auto finance sources and F&I product providers share a common interest in efficiently processing canceled products and issuing refunds to consumers in an expedited manner. In addition, the Consumer Financial Protection Bureau (CFPB), the Federal Trade Commission (FTC), the U.S. Department of Justice (DOJ), state attorneys general and consumer protection groups have all … Read More »

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The Need for … Wait for It … Speed!

The Need for … Wait for It … Speed!

Time is often an invisible variable in nearly all the tasks we do. Whether pulling the cord to the lawnmower, booting up your computer or running your credit card at the pump, you expect these everyday tasks to “just work.” An expectation develops that processes will be repeatable, will take about the same amount of … Read More »

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SaaS or Build: Which Admin System Is Best for You?

SaaS or Build: Which Admin System Is Best for You?

For automotive F&I providers and administrators, information technology is the third largest expense after personnel and administrative costs. A majority of that cost goes toward the upkeep and maintenance of the core administration system(s) responsible for products, rates, dealers, contracts, claims and earnings management. Given the central role that the administration system plays, and especially … Read More »

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How F&I Meets Buyer ‘Techspectations’

How F&I Meets Buyer ‘Techspectations’

When you hear the term “gamification,” it probably conjures up ideas of entertainment and fun. On the surface, that would seem to be a distraction in the business world and the focused processes within F&I. But gamification has been taking hold over the last few decades in places like progressive learning institutions and the military, … Read More »

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IT Controls for Providers & Administrators

IT Controls for Providers & Administrators

When it comes to establishing a solid internal control environment, companies really need to focus on two key areas: Information Technology General Controls (ITGC’s) and Business Process controls. At my firm, SSAE 16 Professionals, LLP, we work with many clients who are new to the SSAE 16 audit process. For those without much experience with … Read More »

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The Technology-Driven Agent

The Technology-Driven Agent

No doubt, you’ve noticed dealers asking their F&I product providers and agents for more – more value-added services and business intelligence. Dealers today want smart products that consumers want to buy – and they want agents to help them be more efficient, comply with regulations, deliver results with clarity, and improve F&I profitability. The benchmark … Read More »

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