BMW Group Financial Services
In the automotive industry, car dealers and customers need fast access to finance. Finance lenders must make the contracting process as swift as possible and the finance easily accessible to maintain lifelong relationships with business partners and free up working capital.
For BMW Group Financial Services to efficiently support car sales across more than 50 countries, it needed considerable co-ordination and streamlined workflows to speed the turnaround of contract applications.
That’s why it chose OnBase® by Hyland.
“The solution is easy to use and dramatically speeds up the turnaround of complete and incomplete contracts. In all, the solution has far exceeded our expectations," said Bert van den Berg, process and quality manager for BMW.
Four ways OnBase changed the way BMW Group Financial does business
- Eliminates paper and manual tasks:BMW Group Financial Services no longer loses time manually managing contracts or their supporting documents. “Working with OnBase, all paper documents can be automatically scanned and sent to the right department via a secure file transfer protocol (FTP),” said van den Berg.
- Speeds contracting processes:“Previously it could take as long as 10 days to process a complete contract package and even longer for incomplete packages,” said van den Berg. “The OnBase solution instantly started to reduce process times. By July, complete contract turnaround was cut to five days, then to three days in August. By September, it was down to just over two-and-a-half days. Complete, incomplete and incorrect contract packages are now handled faster and more effectively.”
- Reports incomplete applications automatically:OnBase flags incomplete applications and sends an email to the dealers, notifying them of inaccurate or missing data, enabling a more proactive workflow and making it easier and faster for them to act. “We went from a reactive to a proactive solution,” said van den Berg.
- Enables continuous improvement across the enterprise:“The next step for BMW Group Financial Services is to continue to increase the coverage of OnBase by integrating it with other business systems and to increase reporting service utilization,” said Karlsson.