PDFs and paper applications are a compliance nightmare. With TRNSACT, you can effortlessly integrate an encrypted online credit application into your website and sales quotes. Commercial customers are often on the road so you can even include secure links to your compliant online credit app via text, email, and QR codes.
The future is now and the heavy equipment industry is changing. Your commercial customers face very real cyber security and identity theft threats. In 2023, even small town dealers can be victims of fraud and get fined for failing to comply with state and federal regulations. Take the quick risk assessment below to find out if you need TRNSACT.
Is your dealership at risk?
- Does your team use PDFs for financing or printed credit applications?
- Does your team leave credit applications in desks, vehicles, and trash cans?
- Do employees use personal devices to get sensitive customer info via text or email?
If the answer is yes, you are not compliant.
It’s OK- get TRNSACT
Compliance Features for Truck and Equipment Dealers
Trnsact is here to organize and fortify your financing department with secure document storage that connects with your existing sales process. Customers upload their own docs and IDs online and we protect them- allowing only designated employees access. We’ll help you set up automation to safeguard your sensitive information and ensure your dealership meets the highest compliance standards.
Trnsact’s Red Flag Check module makes it effortless to check into every company and customer you sell to. Our software automatically stores OFAC documentation for you as an extra layer of protection. Integrating red flag checks seamlessly into your current finance process will help your leadership team avoid costly penalties without extra work.
HOW COMMERCIAL DEALERS USE TRNSACT FOR COMPLIANCE
rapid identity verification
If you offer Net30 terms or equipment financing it’s crucial to know who you’re selling to ASAP. Trnsact’s built-in soft pull credit checks for commercial customers and advanced identity verification features help your sales team frontload legitimate prospects- even when you’re selling equipment to strangers online.
BETTER CUSTOMER EXPERIENCES AND MORE CONTROL
With Trnsact, dealers gain a new level of customer data security and more control over financial information. Dealership Managers are able to limit employee access to sensitive data, resulting in easier control and less risk. Customers will appreciate your respect for their sensitive info.
More Security and Compliance- Less Work
Between the FTC, OFAC, state, and federal regulations, dealers have a lot of compliance headaches. Trnsact is a secure system that is designed and updated to stay ahead of the regs. Dealers love having a single portal that is secure, auditable, and compliant. Bonus- our experienced team can help you set up a compliant sales workflow that frees up time and makes training easier.
TRNSACT DEALER COMPLIANCE DECK
Ready to discuss compliance with your leadership team? Use the form to download a TRNSACT Compliance Features Deck PDF.
Articles and Resources for Commercial Equipment Dealers
