Pioneering digital transformation in novated leasing with Adobe Acrobat Sign

A Woman Savoring the Ride with Her Car Window Down on a Bright Day.
Image source: Luis Eduardo.

McMillan Shakespeare Ltd. (MMS) is a leader in providing novated leases and salary packaging in Australia. Catering to a diverse clientele across Australia, MMS recently embarked on a transformative journey to digitise the end-to-end novated lease process. The goal of this ambitious project was to digitise and streamline interactions between employees, employers, and financiers resulting in an engaging and frictionless customer journey.

A novated lease is a vehicle lease arrangement between an employee, an employer and a finance company. Novated leases, predominantly used in Australia, are part of a salary packaging arrangement that allows an employee to use pre-tax dollars to pay for a car and its expenses. The lease bundles the financing payments and running costs into a convenient regular payment for the employee.

The pioneering decision

Customers of MMS, like most people, find there are not enough hours in the day to get everything done. MMS saw this as an opportunity to best serve its customers and try to make their days a little easier. When setting up a novated lease, there are a number of documents that require manual signing by clients, their employees and the financiers to finalise setup. This manual process is time-consuming and requires multiple touch points from all parties. MMS has decided to digitise this process, to reduce effort and time spent with documents allowing its customers to get behind the wheel of their new car at a much faster rate.

Using Adobe Acrobat Sign for electronic signatures since 2018 for HR processes, MMS is aware of its ability to speed and streamline signature-based workflows. However, for the novated lease process, the e-signature solution would need to seamlessly integrate with its Microsoft Dynamics 365 CRM and have deep security accreditation, especially for government-level security. After a competitive evaluation, Adobe’s strategic Microsoft partnership, deep integration with Microsoft solutions, feature set, powerful security and commercial model led MMS to select Acrobat Sign.

MMS’s novated lease project faced a tight five-month deadline to digitise the entire settlement process. This involved not only integrating various systems and processes across different financiers and employers but also maintaining the distinct identities of the two brands, RemServ and Maxxia.

Maxxia.
RemServ.

“Acrobat Sign’s flexibility became the linchpin in this project. The ability to merge and manage multiple documents and cater to specific employer requirements was invaluable. Employers, for instance, could be granted 'view only' access to certain documents as well as delegate signing authority, aligning with their unique requirements. This level of customisation ensured that each stakeholder's needs were accurately met.”

-Rithika Prabhakar, senior technical program manager

The project also utilised Acrobat Sign’s robust API capabilities, seamlessly integrating signed documents into Dynamics 365 as well as customer and employer portals. This integration not only enhanced the user experience but also reinforced the security and tracking of documents, a critical factor in gaining stakeholder trust.

Critically important in digitising a previously paper-based process is successfully managing change among various stakeholders. The MMS team conducted extensive information sessions to educate employers about the security and efficiency of the new digital system. Demonstrations showcasing different scenarios, including the handling of delegation issues and audit trails, played a crucial role in addressing concerns and illustrating the practicality and security of the new system. All the careful planning ensured a smooth transition to the new process.

Leading the pack

MMS’ new digitised process is about defining a new market standard, excelling in customer experience and at the same time driving technology-enabled productivity. Using Adobe technology to enable the newly designed digital processes resulted in:

Additionally, the efficiencies allows MMS’s sales teams to be more efficient and they were able to realize gains of greater than 20 percent sales volume. MMS’s successful digitisation of the novated leasing process is a testament to the power of digital transformation in the modern business world. It has not only streamlined its internal processes but also established a new customer experience standard for the entire novated leasing industry in Australia.

Customers are very satisfied with streamlined process

Significantly reduced need for manual follow-ups and rework

Driving an industry wide shift in novated leasing practices

Results and future prospects

The project was a resounding success and with it, MMS not only met its initial objectives but also found opportunities to enhance the system further, and there are discussions about using digital signatures for other business lines within MMS.

MMS’s pioneering steps in digitising the novated leasing process have not only enhanced its operational capabilities but also positioned it as a leader in the digital evolution of financial services. As it continues to expand and innovate, MMS’s commitment to leveraging technology for better customer experiences remains a guiding principle.