Broad River implemented STORIS' Finance Application Queue during the first week of February in advance of the busy President’s Day shopping weekend. The Finance Queue is STORIS' latest enhancement to the in-store finance application workflow, aimed at further expediting the credit application experience for customers. Broad River is the first STORIS partner to launch the new product.
“Broad River had been searching for the ideal finance waterfall solution for over two years. We determined that we wanted a fully integrated solution with our ERP on the front end at the point of sale and on the back end with funding and processing, so we decided to help develop the product directly with STORIS,” said Broad River CEO Charlie Malouf. “STORIS listened to our needs and involved us in the early design and architecture of the software product, and they delivered a well-conceived software solution tailored to our needs.”
STORIS is now pleased to provide this improved finance application process and integration to its entire client base. The module makes applying to multiple finance vendors from one central and integrated finance application quick and easy, improving aggregate approval rates and extending more credit to more consumers. The Finance Application Queue takes a process that previously required duplicate application entry into multiple different portals and seamlessly integrates that functionality into the STORIS ERP. This saves both the retailer and customer time and energy during the shopping experience.
“The feedback from our employees has already been exceptional,” noted Charlie Malouf. “The product makes the process of financing much easier for our staff to administer and reduces the checkout time for our customers. More customers are receiving finance approvals that fit their needs, which makes it easier to purchase beautiful home furnishings, accessories and sleep products from Ashley HomeStores. This will ultimately drive higher top-line sales for our business.”
The STORIS Finance Application Queue seeks to eliminate the frustrating and often embarrassing process of having to tell a customer about a primary credit application decline. In the new workflow, following an initial decline retailers can quickly and easily submit the application to another finance provider. With STORIS' Finance Application Queue, consumers can apply for financing with numerous third party finance providers including secondary and tertiary financing plans, all from one application.
On the back end, the Finance Queue integrated into STORIS helps process funding faster while eliminating errors that can happen with manual data transfer. This helps retailers reduce office expenses. Those using the new enhancement to the STORIS ERP will be able to change a sometimes negative step in the shopping experience into a positive one by finding the right finance offer for every consumer. This means more time with customers on a personal level and less time in front of a computer screen.
"The ability for retailers to offer financing is critical in today’s competitive market," stated Strategic Business Development Manager, Donnie Surdoval. "That is why STORIS felt it was important to invest in making the finance application, authorization and settlement processes seamless and efficient within our ERP. We are happy with initial results and look forward to seeing the enhancements benefit all of our customers, beginning with Broad River."
STORIS has launched its Finance Application Queue with several integrated finance vendors: Synchrony, TD Bank, Wells Fargo, Capital One, Citibank, Fortiva Retail Credit, Genesis Financial, Smart Sales & Lease and Tidewater. STORIS is working hard to add more finance vendors to its Finance Application Queue ecosystem. Charlie clarifies this importance: “At Broad River, we are excited to be able to easily add more financing partners into our ecosystem. This will help us to always have a compelling suite of financing solutions for our valued customers. We are focused on optimizing a seamless financing process, as opposed to a la carte financing.”
The Finance Application Queue is an important enhancement to the core STORIS ERP. STORIS focuses intensely on delivering products to enhance the customer experience and improve operating efficiency.
About Broad River Furniture: Broad River is one of Furniture Today’s Top 100 Furniture Stores and Fastest Growing Furniture Stores. The Company was also recognized by Furniture Today as one of four Retail Giants of Bedding in the U.S. based on its achievements in the competitive mattress arena. Grant Thornton, LLP recognized the Company again this past fall as one of North Carolina’s Top 100 Private Companies. Founded in 2003 by Executive Chairman Jonathan Ishee and headquartered in Fort Mill, South Carolina, Broad River Furniture is the regional licensee of 17 Ashley Furniture HomeStores in North Carolina, South Carolina and Georgia and one Ashley Furniture HomeStore outlet in Charlotte. The privately held Company employs over 500 at its stores, distribution center and corporate office.
About STORIS: Founded in 1989, STORIS continues to be the leading provider of Retail Software Solutions and Services to Big Ticket retailers of ALL sizes. Over 350 clients utilize the STORIS single ERP solution including point of sale, mobile processing, supply chain management, customer care, accounting, ecommerce solutions, business intelligence, and more. STORIS, Inc. is headquartered in Mount Arlington, New Jersey with an additional research and development office in Deerfield Beach, Florida.