Mercedes-Benz Financial Becomes First to Launch an Integrated Contract Data Validation System

Advent Resources Inc. completes integration of eValidate at its M-B dealerships; Automatic Data Processing (ADP) next on the rollout schedule.
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FARMINGTON HILLS, Mich., Sept. 8, 2009 /PRNewswire-FirstCall/ – Mercedes-Benz Financial is the first luxury captive to unveil a full contract data validation system integrated with a dealer service provider (DSP), aimed at increasing dealer profitability and customer satisfaction.

Mercedes-Benz Financial has launched eValidate, a full contract data validation system that integrates with the dealer management system (DMS). The new system is available at dealerships in some of its largest U.S. markets — California, New York, New Jersey, and Florida.

Mercedes-Benz Financial is rolling out eValidate with DSPs who have Mercedes-Benz dealerships as clients across the country. Advent Resources, Inc., of San Pedro, Calif., was the first DSP to incorporate the eValidate functionality into its dealer management system. Advent’s Mercedes-Benz dealerships now have eValidate fully integrated into their dealer management systems.

Some of Advent’s Mercedes-Benz clients include Mercedes-Benz of Laguna Niguel, CA, Fields Motorcars, FL, and the corporate-owned store Mercedes-Benz of Manhattan, NY. These Mercedes-Benz dealers now have the ability to check the accuracy of their Lease Worksheets, Lease Agreements, Retail Contracts, and Retail Law Contracts accepted by Mercedes-Benz Financial.

Dealer service provider Automatic Data Processing (ADP) began piloting its Mercedes-Benz stores with eValidate in August. Working closely with ADP throughout the rollout, Mercedes-Benz Financial’s goal is to make eValidate available to all of the Mercedes-Benz dealerships that subscribe to ADP by next June. Also scheduled to integrate eValidate are DSPs Reynolds & Reynolds and Arkona.

Designed to perform over 100 validations on worksheets, agreements and contracts, eValidate is already making a noticeable difference in dealership and customer satisfaction.

As one of the first stores to pilot eValidate last December, the team at Calstar Motors in Glendale, Calif., is very familiar with the benefits of the system.

“eValidate has caught problems before we could even call them problems,” states Loren Anderson, Finance Manager at Calstar Motors. “Since we started using eValidate, we have virtually eliminated residual errors along with the contract rewrites and customer call backs that used to result from them.”

“For the first time, Mercedes-Benz Financial now has a direct interface with a Dealer Service Provider, which will enable us to provide more seamless and efficient operational processes for our dealer network,” states Jeffery Stevens, Contract Acquisition Strategies Manager for Mercedes-Benz Financial.

“eValidate supports our commitment to be the first choice provider of financial services for our dealers,” Stevens said. “By significantly reducing contract discrepancies and customer re-contracting, dealerships will increase their profitability, operational efficiency, and overall customer satisfaction.”

In seconds, over 100 validations are performed and the integrated approach provides the dealership’s finance decision makers a seamless user experience in their Finance & Insurance process.

“Over 70 percent of our business is lease and with all of the manufacturer special programs being offered, contract discrepancies are inevitable,” said George Bik, F&L Manager at Mercedes-Benz of Encino, Calif. “eValidate confirms contract accuracy or advises of a contract discrepancy in about five seconds.”

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About Mercedes-Benz Financial

Mercedes-Benz Financial, now in its 27th year of operation, provides financing for Mercedes-Benz dealers’ inventories and their retail customers. Currently, more than 450,000 drivers in the United States enjoy the benefits of leasing or financing their Mercedes-Benz vehicles through Mercedes-Benz Financial. Mercedes-Benz Financial and its affiliates operate in the United States, Canada, Mexico, Brazil and Argentina. Mercedes-Benz Financial is part of Daimler Financial Services, headquartered in Berlin, Germany, operating in 40 countries. Daimler Financial Services is one of the leading financial services enterprises worldwide. For more information visit www.mercedesbenzfinancial.com

Source: Mercedes-Benz Financial

CONTACT: Jack Ferry, for Mercedes-Benz Financial, +1-248-991-6610 (office), +1-248-761-3233 (cell), john.r.ferry@daimler.com
Web Site: http://www.mercedesbenzfinancial.com

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