Often, the best way to learn is by example. With that in mind, here are a few examples of consumer finance success to guide you along the way.
Rudy Campos and Mattress Clearance Warehouse
Rudy Campos and his Laredo, Texas-based business Mattress Clearance Warehouse wanted to make the most of their consumer finance program, but issues including credit-challenged customers, thin staffing, and a negative customer experience in relation to the consumer finance process resulted in what Rudy referred to as “growing pains” for his consumer finance offering.
Rudy began looking for a solution that would help him streamline and automate key parts of the consumer finance process – especially the parts that led to customers feeling embarrassed or frustrated by being declined. The result? Notable finance success for Rudy and Mattress Clearance Warehouse. Rudy and team saw faster approvals, increased volume, and payroll savings, in addition to a vastly streamlined consumer finance process.
As for Rudy? He couldn’t be more thrilled. "Our experience now with FormPiper is GREAT!" he says.
Angel Siqueiros and Houseful Furniture
In the furniture business, the fewer obstacles you have in the way of making a sale, the better. You have loads of competition, and customers don’t have to look far to find another company if they don’t like your consumer finance process.
Angel Siqueiros of Household Furniture was tired of the old way of manually processing applications, and began to search for a solution to modernize his consumer finance program. He came upon FormPiper based on a recommendation from another furniture seller, and, intrigued by the options the solution presented, he looked into it. What he saw got his attention, and Angel decided to give FormPiper a try.
The result was nothing short of spectacular for Angel and Household Furniture. He greatly appreciates the speed of processing applications that FormPiper delivers, of course, but he also enjoys having a higher level of control than typical waterfall applications deliver, as well as FormPiper’s advanced reporting and integrations. In his view, FormPiper is so distinct from waterfall application providers that “it's not comparing apples to apples with other providers, but it's providing a far superior service.”
Raja Iqbal and Glitz and Glam Fine Jewelry
Raja Iqbal has been in the jewelry business for a long time and understands the value of a strong consumer finance program for closing more jewelry sales. His business – Glitz and Glam Fine Jewelry store in Odessa, Texas – needed a boost to its finance offering. Raja was running into issues with declined applications – in fact, he was only getting around a 30 percent approval rate and a 20 percent success rate.
Following his adoption of the FormPiper solution, those dire metrics flipped completely. Raja’s approval rate went from 30 percent to 90-95 percent, and, similarly, his financed sale success rate rose to 85-90 percent. That’s a lot more closed sales for Raja and team.
Following Their Example
It’s clear that all of these business owners had a strong desire to up their consumer finance game and deliver a better experience for their customers. But it’s not enough to want to improve things for your customers – you also have to choose the right solution to do so.
FormPiper is that solution. Whether it’s through automation and consolidated reporting, streamlining the finance application process, or delivering value-loaded managed and self-managed services tailored to your business’s needs, the key to consumer finance success could not be more clear: go with FormPiper and go from there.
