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So, You’re Paperless. What Does it Mean?

You know how if you say a word too much it stops making sense? There are a lot of tech-talk buzzwords floating around in the world of business – and most of them feel pretty empty. Digital Transformation, Artificial Intelligence, Synergy, Disruption. These are all victims of repetition, and they don’t really feel like concepts that apply to anyone but techies. 

But the buzzword that can be applied by most business owners right now might be the broadest: Paperless. We hear “paperless” and think…okay, no paper. But the effects of a paperless process in your business reach further than the filing cabinet. These are our top reasons why a paperless process, like Roadrunner’s digital application, can transform your business.

1. Sales are Seamlessly Fast

The internet has connected our world and made the pace of business faster than ever. Creating and sending a file digitally will always be quicker than sending a hard copy by mail or fax (or maybe carrier pigeon?). 

Take our digital application, for example. Traditionally, your customer would fill out a paper application and you’d fax it to your lender. And then you wait 20 minutes. Maybe 30. Did you type the fax number right? More waiting. Then you get a call, then they fax you back…at some point. Maybe you’ll close the deal tomorrow.

With our paperless process, you type everything into the application once and hit enter. Then, in an instant, you get a decision right there on your screen. You’re on to working the deal and getting contracts signed. No waiting, no paper, no faxing, no time wasted.

2. Smooth Service Every Time

Another problem with the traditional application process is that once the fax is sent, the deal is out of your customer’s sight – and out of your hands. Keeping the deal “in-house” can help take your service to the next level. 

Paperless applications keep everything right in front of you, right on your screen. When you know exactly where your deal is, you can keep your customer informed. This makes your service more transparent and efficient. A paperless digital process also shows customers that you’re using the best available technology to give them a great deal and great experience.

3. Share Files With a Click

When you go paperless, your ability to share copies becomes infinite. Who needs to go search for a file from the cabinet, then copy it and hand-deliver it, when you can just attach a PDF file to an email?

This is especially applicable to contracts on your deals. When you generate contracts on our paperless application, you can send it straight to the customer’s email and download a PDF copy to save for your records – all on one screen. 

4. Keep Important Info Safe

You handle a lot of sensitive information on a daily basis. Bank records, social security numbers, address information. When that application info is kept in hard copy, it’s harder to keep that information secure! A file in a cabinet can be accessed with little effort, not to mention that a piece of paper can be pretty easy to lose.

Paperless digital storage works to increase your security two-fold: one, your password-protected computer limits access to a select few individuals. And two, you always know which computer folder the information is kept in. Unless it gets accidentally deleted, it’s hard to lose track of a digital file.

5. Go Green, One App At a Time

This is the big one. Going paperless is an easy step toward decreasing your business’s waste. Companies all over the world are looking into solutions to reduce the amount of paper they use (and subsequently throw away). Consumers, especially young ones, are also attracted to sustainable businesses that limit resource use.

Not only does digital file storage save trees, but it also saves you money and space. A full 16G of storage can fit over 300,000 word documents – that’s a ton of filing cabinets to hold what you could also fit on a 2-inch flash drive. Plus, how much do you think it would cost to print all of that out? We don’t want to know.

A paperless process can help make your business more efficient, secure, and organized. It’s a trend that won’t die down as the world only becomes more technologically-focused. Roadrunner Financial’s digital application process is a simple and free way to go paperless and take advantage of all the benefits that we’ve laid out for you.

The above article is being provided for informational purposes only and shall not be considered any type of professional advice. Roadrunner Financial, Inc. (RF) does not warrant the accuracy of the information contained herein. Prior to utilizing RF as a lender, all dealerships are subject to underwriting approval by RF, in its sole discretion. No loans will be funded without a signed Dealer Agreement between the dealership and RF. All applicants for credit through RF are subject to credit approval. Other qualifications and restrictions may apply.

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