2022 was, in many ways, a challenging year for the economy in general, and for retailers in particular. With the costs of so many daily staples on the rise, many consumers simply didn’t have the budget left over for purchases at retailers in a large number of verticals. Looking at it from a broad, overhead view, can paint a depressing picture.
And yet, in the midst of the economic doom and gloom, there were bright points, and many retailers found ways of not just surviving, but thriving in a difficult economy. One are worth highlighting in particular is consumer financing. Now more than ever, customers want options when it comes to making their purchases. When they walk into a retail store, they want to have the flexibility of knowing they can finance a purchase if necessary. It’s a back-of-mind comfort for some customers, and an absolute essential for others.
With the high demand for consumer financing, it only makes sense that retailers would be hungry for ways to separate their consumer finance programs from the competition, and also make them more efficient, cost-effective and easier to run.
FormPiper is a consumer finance automation solution that provides precisely those benefits – and many more – to retailers in a number of different verticals. We are proud to say that our solution helps our retailer clients at a time when their businesses need a little assistance more than ever. By leveraging our technology, our clients have been able to streamline their finance programs, close more deals, boost their revenue and build stronger customer relationships on the basis of their convenient financing.
To see the FormPiper effect in action, we need look no further than two of our clients who spoke to us about how FormPiper helped their retail businesses in 2022.
Mattress Clearance Warehouse In Laredo, Texas
Rudy Campos has long understood the value of a strong consumer finance program. Unfortunately, his finance program ran into a few obstacles, which created a challenge for his business, Mattress Clearance Warehouse in Laredo, Texas.
“Our small company was going through some growing pains when it came to processing financing applications for our customers due to several reasons,” says Rudy.
And what were those reasons? Well, for starters, it was taking his team too long to process credit-challenged customers who had their finance applications declined. Filling out the same data over and over on multiple application forms is time consuming and inconvenient to say the least. Rudy’s customers were often embarrassed as a result of being declined, and didn’t like having to share the same information repeatedly for multiple applications.
To top it all off, Rudy’s business was short-staffed at the time, while his business was growing in volume. It all added up to a perfect storm of problems for his consumer finance program and his retail business as a whole.
Rudy was on the hunt for a solution, and that’s when he found FormPiper. As a complete consumer finance solution, FormPiper helped Rudy streamline his business’s consumer finance process. He could not have been more pleased with the results.
"Our experience now with FormPiper is GREAT!" says Rudy. "We are able to get new customers approved FASTER and our volume is GROWING and now saving PAYROLL due to not needing more labor to do the application process! One time asking customers for personal info and DONE!"
But FormPiper’s value doesn’t end with setting up an automated solution. The support Rudy enjoys from FormPiper is robust and ongoing.
"The FormPiper help desk is always ready to assist if issues develop! Customer Service is GREAT!" says Rudy.
With FormPiper’s assistance, Rudy has transformed Mattress Clearance Warehouse’s financing program from a burden to a big-time benefit. We could have been prouder to help him make it happen.
Household Furniture In El Paso, Texas
Offering financing is table stakes in today’s retail game. That’s something Angel Siqueiros, Operations Manager at Household Furniture in El Paso, Texas, fully understands.
“In a retail environment where a sofa might cost $700, $800, $900, not a lot of people just walk around with that in their pocket," says Angel. "So obviously, financing is a big part of the business. Without it, I don't think anyone can thrive in that space.”
With finance playing such an integral role for any retail business, it’s important for retail business owners to ensure that their finance programs are up to snuff. Keeping up with the times is essential in every area, but especially when it comes to customer experience-impacting technology. FormPiper is exactly the kind of technology solution that can totally transform a retail business’s consumer finance program.
Angel first heard about what FormPiper had to offer from another furniture retailer – one of our happy FormPiper clients.
He decided to give FormPiper a shot, and he could not be more thrilled with the result.
"When it comes to your product, it's different," says Angel. "That's the number one thing, it's not like what [other retailers] are probably familiar with. You can't really compare them to any other waterfall per se, because it doesn't operate like a waterfall. It really puts it in your hands how you want to use it, and it just takes all the work out of it. But at the same time, it gives you more control that other waterfalls don't give you, while still providing reporting and the other options that you have available. And obviously the integration portions that you guys are working on, on top of that. So it's not comparing apples to apples with other providers, but it's providing a far superior service."
FormPiper has given a big boost to Angel’s business, and, as with Rudy Campos, Angel is pleased with the ongoing support the FormPiper team has provided.
"Everybody has been very responsive," says Angel. "Whenever there's a problem, it's always easy to get information via a question, I can always reach out by phone or email, someone's always there to answer...So, a very, very good experience so far."
Angel is yet another retail client who is fully satisfied with the FormPiper solution.
Make a New Year’s Resolution to Boost Your Consumer Finance Program With FormPiper
A new year is a chance to start again. FormPiper is proud of all the assistance we provided to our retail clients in 2022, and looking forward to assisting others throughout 2023 and beyond. If you’re a retail business owner, now is the perfect time to resolve to make the most of your consumer finance program in the new year.
Explore the FormPiper solution and see just how impactful a consumer finance program can be to your business’s bottom line when paired with a convenient, cutting-edge automation solution like FormPiper. That’s a resolution that will prove easy to keep all year long.
