Is your company still hanging on to paper copies of titles? Using a title management system to upgrade your operations to E-Titles is a great way to reduce costs, improve efficiency, and minimize problems.
What Are E-Titles?
E-Titles, also known as electronic titles, are digital records of automobile ownership stored in an extensive database. Records are accessed using title management software. E-Titles show proof of ownership, just as paper titles do. Electronic titles are available for all motor vehicle types and classifications.
E-titles provide the same information as traditional paper titles and require the same documents to verify authenticity when applying. Lenders and state department of motor vehicle agencies transmit E-Titles and information about them through electronic lien and title systems.
Modern title tracker technology is improving the processes of storing, transferring, and handling titles.
What Are the Benefits of Using E-Titles?
Title management systems that support E-Titles have several advantages compared to solely using traditional paper files. E-Titles eliminate the need for storage space and filing systems. Digitized title management software also makes locating and retrieving records more streamlined. Paper titles can easily be misplaced or lost, but electronic records are nearly impossible to lose when properly backed up using a title tracker. The accuracy of information exchanged is enhanced because there are fewer opportunities for clerical errors that paper copies experience.
The process of transferring titles is much less complicated and time-consuming when done electronically. When mailing a hard copy title, you are at the mercy of the mail system. If lost in the mail or caught up in transit, the entire transfer process can be delayed. E-Titles relieve the need of lienholders to seek duplicate titles to replace lost copies. A title management system can transfer an E-Title within seconds. The improved efficiency of electronic records also frees staff to work with more customers and handle other business obligations. Digital records also feature a reduced risk of counterfeiting and other fraudulent activities compared to paper copies.
E-Titles are also very effective at reducing costs for businesses. E-Titles result in a drastic reduction of processing, handling, and maintaining. Less paper is needed, which lowers operating costs and produces less waste. When sending titles using a title management system instead of the post office, you eliminate the postage costs. Some dealerships physically drive titles to a motor vehicle bureau. Eliminating this step saves on gas expenses and reduces wear and tear on the cars used to transport paper copies.
What Does Title Management Software Do?
Title management software plays a significant role in improving your operations. It can be seamlessly integrated into your existing infrastructure to become a simplified title tracker. When correctly set up, title management systems ensure an efficient and secure storage and release process.
Any time information needs to be input, an easy-to-follow layout can guide you through the process. By highlighting areas that require attention, the software makes sure you don’t miss important information. The software can catch errors before they are submitted to a motor vehicle bureau as well. If you discover a mistake, the recall and resend features allow you to submit the correct information with the click of a button.
Searching for information can be a long and complicated process when dealing with paper records. Title management software makes searching by customer name, stock number, deal number, VIN, year, make, or model simple. Proper search tools can locate electronic lien holders and autofill for you.
Titles and lien paperwork can easily be scanned and stored electronically. When viewing E-Titles, you can rotate your mobile devices’ images to make looking over them easier. Looking at titles and sorting them is also simplified. You can sort memos and receipts to only show the information you need. Customized reports allow you to arrange the most pertinent information to send others the data they need.
Can CTMS Help With Your E-Title Needs?
CTMS created the EZ-ETITLE title management software to make your life easier. Our title tracker makes locating, organizing, and sending title information quick and easy. We know switching to E-Titles will save your company time and money. To learn more, reach out today.
