How to minimise customer friction in the dealership
Customer friction—it’s the persistent challenge that every automotive dealership must address. This barrier often stands between a seamless experience and one that leaves customers frustrated. However, innovative F&I solutions for dealerships can make a significant difference.
Imagine a busy day at the dealership, with customers finalising purchases of their vehicles and others eagerly awaiting delivery. On days like these, bottlenecks often form, particularly in the Finance and insurance (F&I) office.
This leads to longer-than-desired wait times for customers and mounting frustration for sales staff who are left in limbo, unable to move on to new opportunities. The result? Increased customer friction in F&I processes.
So, what’s behind this slowdown? It’s the paperwork.
Forms that require manual completion, whether by writing or typing. No matter how many forms customers fill out during the initial sales process, it seems that more forms magically materialise by the time they take delivery of their vehicles.
The blame doesn’t fall on Finance Consultants or Business Managers—they’re simply ensuring compliance with the tools they’ve been given, which are often inadequate. Buying a car should be a happy and exciting occasion, but often, the hassle of paperwork can cast a shadow, negatively affecting customer satisfaction.
Why so many forms to fill in the first place?
The F&I department is responsible for a wide range of forms, including:
It’s almost inevitable that these forms pile up at the most inconvenient times—like on a busy Friday afternoon.
There’s a better way to do this. If your dealership—or your network of dealerships—is serious about reducing customer friction and embracing automotive dealership innovation, we have a solution.
Op2ma provides a suite of smart F&I technologies designed to minimise, and often eliminate, the need for manual paperwork.
Transforming the F&I Experience
Online Applications
With Op2ma’s F&I solutions for dealerships, you can send customers a secure link to start their credit application from their home or office. They can save their progress and submit it when ready. Once submitted, the Finance Consultant can verify, complete any remaining fields, and submit the application to the financier directly.
Efficient Document Exchange
Op2ma simplifies the process of sending and receiving documents. Instead of juggling multiple emails with attachments, customers receive a reusable QR code from Op2ma. They then attach their documents, scan the QR code, and send them directly to a secure, auto-generated drop-box linked to their sales record.
Effective Document Storage
If a loan application doesn’t go through, the responsibility of storing paperwork falls on the introducer. Op2ma’s technology removes this administrative burden, making document management for F&I simple and stress-free.
Streamed live DMS data
Many dealers have standalone F&I reporting and log. This adds to the nonproductive congestion, slows the weekly reporting and end of month process significantly. DMS data is used in 3 ways for F&I. First, it lets the F&I person know that a sale has happened. Next, the data is used to populate a quote or application. Finally, the same data is used to populate the log and reporting.
The F&I process at automotive dealerships often suffers from bottlenecks and customer friction due to excessive paperwork. However, innovative F&I technology solutions are available. Op2ma offers a range of smart technologies that streamline processes, reduce manual form handling, and improve overall efficiency.
From online credit applications and secure document exchange to effective storage and streamlined terms and conditions, Op2ma revolutionises the F&I office and enhances the customer experience.
Conclusion
It’s time for automotive dealerships to embrace innovation and eliminate customer friction within their F&I processes. Op2ma’s advanced F&I solutions offer a comprehensive solution—enabling online applications, efficient document exchange, streamlined storage, and seamless integration with dealership systems.
By adopting these tools, dealerships can greatly enhance customer satisfaction, reduce wait times, and boost overall efficiency. With Op2ma’s F&I technology, the F&I office becomes a streamlined operation, reducing administrative burdens and ensuring compliance.
If your dealership is keen on minimising customer friction, increasing productivity, and maintaining compliance, it’s time to explore the transformative potential of Op2ma’s F&I technology.
Click here to Schedule Your 45-Minute Session
A quick 45-minute session to explore the transformative capabilities of Op2ma’s F&I smart technology could be the most valuable decision you make for your dealership’s success.
For more details, contact Craig Rowney at +61 438 284 456 or craigr@op2ma.com.au, or Tim McGrath at +61 408 900 130 or timm@op2ma.com.au.