Volkswagen among first to fund deals in 24 hours or less with Sign Anywhere
HOFFMAN ESTATES, Ill.--(BUSINESS WIRE)--Jun. 8, 2020--
CDK Global, Inc. (Nasdaq: CDK), a leading retail automotive technology company, today announced the launch of Sign Anywhere, its new remote electronic signing solution. Through the innovative remote signing capabilities of Sign Anywhere, dealers can offer customers a secure, quick, and convenient way to electronically sign the majority of finance and insurance (F&I) forms needed to purchase a vehicle without having to be present at the dealership. With Sign Anywhere, deals can receive funding in hours following a vehicle purchase. The tool is a free addition to customers who have CDK eSign.
"CDK continues to invest in products that will help our customers accelerate their digital transformation as we prepare for a new automotive retail landscape," said Mahesh Shah, executive vice president and chief product and technology officer, CDK Global. "Dealers can count on Sign Anywhere to enhance customer experience and expand their digital capabilities beyond the showroom floor without sacrificing time or security."
Sign Anywhere houses a portfolio of F&I forms in one secure digital location for dealerships and customers. As part of the solution, dealers can load forms into a Digital Deal Jacket (DDJ). Customers access the forms via multi-factor authentication and can electronically sign those documents at their convenience. Once customers sign, the dealership can securely proceed with the completion of the sale.
In addition to offering more convenience to customers, Sign Anywhere also shortens the time it takes compatible lenders to fund completed vehicle purchases for dealers. What typically could take four to six days for lenders, now can be processed in 24 hours or less.
"At CDK, the success of our customers is what drives us, and we feel it is our responsibility to provide tools that will sustain their continued growth today and in the future," said Michael Seeman, vice president, Customer Success, CDK Global. "With Sign Anywhere, dealerships stand out from the competition with a new omnichannel approach that gives customers convenient options to experience the car-buying process as they choose."
Volkswagen (VW) does it first
Volkswagen is among the first to offer Sign Anywhere at VW dealerships through its financial services arm VW Credit, Inc. (VCI). VCI immediately recognized Sign Anywhere as a differentiator and called on CDK to provide its dealers with the solution.
"VCI and Volkswagen not only want to provide world-class vehicles but also world-class car-buying experiences that match the evolving expectations of our customers," said Anthony Bandmann, president and chief executive officer, VW Credit, Inc. "Through a collaborative approach that focused first and foremost on the consumer, VCI and CDK worked together on equipping VW with a game-changing solution that is speeding up transactions for customers and providing a new avenue of cash flow for dealerships."
To date, Sign Anywhere is active in over 400 VW dealerships and more than 3,600 dealerships across multiple OEMs. Sign Anywhere has also helped complete over 8,000 vehicle purchases.
In the next six to 12 months, CDK intends to add additional captive and national financial institutions to the list of Sign Anywhere compatible lenders.
Dealers can learn more about the remote signing capabilities of Sign Anywhere, the full eSign solution, and the CDK Digital Contracting product portfolio by visiting cdkglobal.com.
About CDK Global, Inc.
With $2 billion in revenues, CDK Global (Nasdaq: CDK) is a leading global provider of integrated information technology solutions to the automotive retail and adjacent industries. Focused on enabling end-to-end automotive commerce, CDK Global provides solutions to dealers in more than 100 countries around the world, serving approximately 30,000 retail locations and most automotive manufacturers. CDK solutions automate and integrate all parts of the dealership and buying process, including the acquisition, sale, financing, insuring, parts supply, repair, and maintenance of vehicles. Visit cdkglobal.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200608005134/en/
Senior Director, Corporate Communications
Investor Relations Contact:
Director, Investor Relations
Source: CDK Global, Inc.