Many great ideas – and many great businesses – started small. What was a dream one day could, with the right strategy and execution, become a reality in time. That’s how it goes with many enterprises, including businesses of all shapes and sizes. What started small can grow, in time, to become something truly expansive.
Maybe that was the case with your business. Or perhaps your business has been big a long time. Maybe you are running a large enterprise, or a franchised business that is a component of a much larger whole. Whatever the case may be, as your operation continues to grow, you need a consumer finance solution that scales with your success. Here are three key components to look for to help you find the right one.
Scalable Reporting
Single-location reporting is complex enough – when you add in multiple locations to the mix, reporting can become a real challenge. When it comes to your consumer finance program, you need reporting that scales to your business footprint, whether you have one location or 100. Understanding trends across all of your locations is critical regardless of the number; you need to see and understand the patterns and KPIs that will inform your best practices and decision making.
Ideally, you want a consumer finance automation solution that can be brought up to scale across all of your locations and which provides all of the information you need in one convenient, easy-to-view dashboard.
Superior Security
The bigger the business, the bigger the potential security problems, especially when it comes to customer data. Consumer finance automation service providers handle very sensitive data, and you need to be sure that any partner you work with upholds high security standards.
Look for a provider who ensures customer data is safe and sound through PCI Compliance, HIPAA Compliance, CCPA Compliance and User Verification. This will give both you and your customers greater peace of mind and prevent a lot of headaches and potential hits to your business’s reputation in the future.
Custom Solutions
‘One-sizes-fits-all’ rarely fits anyone in the business world. Rather than a solution that claims to fit every need, find one where the provider will work with your large business to deliver a finance automation solution that actually addresses your business needs and those of your customers, rather than a hypothetical client.
Whether we’re talking about a large single location business, a multi-location business, a franchise group, a corporation, or a buying group, you want to work with a company that understands the ins and outs of consumer finance well enough to tailor a solution to your company’s requirements.
A solution like FormPiper, which can be customized to meet the needs of any of the kinds of businesses outlined above, is the ideal choice, because of its scalability – including when it comes to reporting – and flexibility, as well as its security-conscious approach.
Schedule a demo today and see for yourself why businesses of all sizes are turning to FormPiper to take their consumer finance programs to the next level.
