When it comes to equipment financing, the industry leaders are turning their focus to providing an operationally efficient, high-tech experience. One such leader is Oakmont Capital Services (OCS) — a tech-forward business equipment financing company, specializing in titled vehicle financing, working capital loans, and specialty equipment financing. As a direct lender, OCS strives to provide their customers with a seamless, digital experience.
A Notarize customer since 2020, OCS has tripled their transaction volume thanks to reduced cycle time per transaction. Here are some of the biggest impacts OCS has experienced since implementing Notarize, according to Vice President & COO, Daryn Lecy.
Improved customer experience
OCS focuses on creating a high-tech and high-touch experience for customers. With Notarize as their online notarization platform, OCS provides their customers — particularly when it comes to titling — with a seamless, digital experience.
By integrating the Notarize platform into their existing workflow, OCS’ customers can sign and notarize documents from anywhere, anytime right from their mobile device.
“We’ve gotten responses from customers saying not only how easy and painless their transaction has been, but just how quick they were able to complete the process,” said Lecy.
Increased operational efficiency
Beyond customer satisfaction, OCS has seen a marked increase in operational efficiency by digitizing the signature and notarization process. By modernizing the traditional paper-based process of scanning, wet signatures and in-person notarizations, OCS reduced the steps required in their document management process — saving them time and money.
“Our postage and cost of shipping have been reduced by nearly three-fourths by being able to have documents signed and notarized digitally. And, it's hard to put a value on the price of the actual time savings, but it has been the greatest benefit for us,” explained Lecy. “Having the document come to us electronically with a time stamp and history of the transaction neatly packaged up to be stored in our repository has been tremendously efficient.”
In addition to document management, Notarize has helped OCS reduce the amount of errors in transactions. That means less time spent on re-work, tracking down missed signatures, and eliminating the back-and-forth that can delay funding for the customer – or worse, the loss of a customer.
According to Lecy, “Operationally, it has really helped us to be able to fund a transaction sooner, to help our titling personnel, and stay on time with our security filings. The Notarize platform has really helped tidy up our process and make things a lot neater and quicker.”
Easy digital transformation
It can be difficult to implement new technology and digitize decades-old, manual processes. At OCS, Lecy explained how easy the process was for them to implement Notarize into their workflow.
“Adoption came faster than I think any of us really imagined…by both our customers and employees. We knew it would happen eventually with such a seamless platform, but when adoption comes much faster than anticipated that is an added win!” said Lecy. “The team at Notarize has helped us continue to scale and make enhancements as we go.”
This is just the beginning for Oakmont Capital Services’ plan for growth by implementing digitized processes such as online notarization. Lecy forecasts that they’ll double their transactions through 2023, citing the reduction in cycle time and improved customer experience as their biggest wins.