Using Technology to Get the Most Out of Your Consumer Financing Program
Technology can be a wonderful thing, especially when it progresses from annoying or obtuse to convenient and easy to use. Take the Internet for example. Readers of a certain age will remember when accessing the Internet took a substantial amount of time and an occupied phone line, and even made noise. Some of you have that dial-up sound playing in your head even as you read this. The rest of you are lucky.
The best thing about the progress of technology is how it makes our lives easier. One area where this is particularly noticeable is in the world of consumer financing, where the traditional process is, to say the least, rather similar to the inconvenient, slow, and mind-numbing process of logging on to dial-up Internet. Fortunately, there is a better way. But before we discuss the solution in detail, let's take a few minutes to examine the problems caused by the old, outdated consumer financing process today.
Out With the Old
The standard financing application process isn't just inconvenient; it also can decrease your revenue over time. If you avoid running every lender because you don't want you or your staff to have to handle the application, you will lose out on revenue.
On the flip side, if you consistently run every lender for every applicant, you'll increase your revenue based on the odds of approvals increasing. The main reason many business owners avoid doing this is because of duplicate data entry.
With the old way, you or a team member has to manually reenter application information for every lender. This takes you away from more important tasks, such as restocking, keeping up with inventory, or simply providing great customer service. It's slow, painful, and needlessly labor-intensive. Can't you just hear that awful dial-up sound in the background?
In With the New
FormPiper represents a major innovation that changes all of that. Instead of having to reenter application information, you'll be able to transfer a customer's financing application to your entire lender lineup with one click. This makes it easy for you and your employees to run every lender, every time, and as you run more lenders, your approvals and your revenue will increase.
FormPiper is convenient and secure, and offers reporting features so you can gauge lender performance. Your customers will love being able to apply on the device of their choice, at their convenience, and you'll love not having to duplicate data entry efforts over and over.
Sometimes, technological innovations that seem simple on the surface in fact offer a lot of depth. FormPiper is no different. As you establish your Perfect Lender Lineup and start using FormPiper to run more lenders, you'll see how powerful this solution really is.
Simply put, the proof is in the pudding with your bottom line. Once you see how FormPiper helps you boost your revenue, you'll send your old financing application process to the technology graveyard, along with dial-up modems and pagers. There's no sense sticking with an outdated method when an efficient and effective new tool is available to you today with FormPiper. Check it out for yourself and see what a difference a little new technology can make for your business.