The Reynolds and Reynolds Company today announced that the United States Patent and Trademark Office has issued two U.S. patents relating to docuPAD®, which is a finance and insurance (F&I) selling and document processing system for automotive dealerships. The company also indicated other patent applications are pending. Reynolds and Reynolds is the exclusive marketing partner for docuPAD, a product developed by COINdata.
"We believe the technologies and ideas behind docuPAD are unique, and we continue to take the appropriate steps to protect both," commented Mark Singleton, one of the co-inventors of docuPAD. "We are gradually building a family of patents for docuPAD and continue to file and prosecute an extensive number of patent claims."
docuPAD is a menu-driven, interactive F&I solution that enables dealership personnel to engage consumers in the finance and insurance steps of a vehicle transaction and electronically manage and record the entire process, including electronic signature capture.
While it is not uncommon for product innovation in dealerships to improve on existing technologies, docuPAD creates an entirely new category of product experience that is shared between consumers and dealership personnel.
"Occasionally, an innovation comes along that actually changes the user experience - an e-book reader or an iPhone," Singleton said. "And docuPAD is that type of innovation. It changes for the better the consumer's experience in the dealership during a vehicle sale."
Among dealerships that use docuPAD, average scores for customer satisfaction in the F&I process increased substantially. The product also has been shown to improve dealership F&I operations, including compliance.
As evidence of the innovation that docuPAD's technology and process improvement bring to the auto industry, U.S. patents numbers 8,194,045 and 8,228,299 already have been issued by the U.S. Patent Office and future patents are expected.