ORLANDO, Fla. -- MenuVantage, a Web-based menu selling system, has partnered with Innovative Aftermarket Services (IAS) to integrate MenuVantage with EREC, IAS’ proprietary eRating and eContracting system for all of the IAS F&I product warranties. This enables eContracting for the company's entire set of F&I product warranties including: IAS InTire, Phantom Footprints, Theft Avert, Multi-Shield, GAP, Windshield, and Paintless Dent Repair.
It significantly streamlines the F&I process for all 2800 IAS auto dealership customers nationwide. IAS dealers can now submit all consumer warranty contracts electronically, reduce errors in contracting and greatly reduce the amount of time spent in the F&I Office while maintaining an electronic record for seven years.
"We are very excited to team with MenuVantage and place our products on their Provider Exchange Network as the process will now be instantaneous so claims on contracts-in-transit are covered. It also ensures no rating errors and eliminates F&I chargebacks," commented Bob Corbin, president of IAS.
With MenuVantage's Provider Exchange Network, electronic deal forms are collected and placed into an electronic deal jacket. The F&I manager guides the customer through the review process and has the customer sign deal forms via an electronic signature pad.
As in the paper world, the F&I manager maintains control over the sequential order in which the forms are reviewed and executed. Each signed electronic deal document is automatically archived into the digital deal jacket. Once the deal is finalized in the back office, clerks can electronically transmit the deal forms to lenders and other vendors.
It decreases time from signature to approval, reduces the number of returned contracts, creates a manageable paper trail, lowers shipping costs, and delivers greater data accuracy. These greater efficiencies improve the speed of the deal, lead to increased customer satisfaction and give the F&I manager more time to explain the value of F&I offerings.
"We are very pleased to team with such an industry leader as IAS. Enabling electronic contracting and e-signature within the F&I office improves dealership CSI scores and increases the ability to up-sell F&I products. The entire process is completed quickly and customers can get out of the store in less time, with less hassle," commented Phillip Battista, MenuVantage Co-CEO.