50% upward spike in conversion through new financing option

Authored by Ameex Technologies on 04 Sep 2019

Our client is a leading small and medium B2B finance provider helping business across North America. After new funding rounds and brand refresh, their core dependency was to revive the  Digital operations and increase sales online. 

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Crucial factor

The finance provider identified that most of their B2B vendors and partners were using Magento commerce platform. Ideally this inspired them to have an exclusive payment option interface in place through which the end customers can take financing help from the client through their partner portals. At instance, the finance provider consulted ‘Ameex’ and the payment interface was launched immediately

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Impact

The enhancements allowed the end customers to avail the financing help without leaving their purchase portal, enabling the client to close the conversion gap and reach more end users which enables to acquire more business partners. 

The decision to enhance this feature online has reduced the number of steps involved in the financing process and improved customer experience. Now, the process is automated thus minimizing error quo. This custom payment option was developed abiding all security regulations and document verifications procedures.

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Other features

  • The extension is connected with their internal payment portal and CRM. Customers can therefore use the client’s portal for future reference and get repayment schedule updates. 
  • The client had a better tracking of their customers and their performing partners. Every activity through the extension was in sync with their internal CRM to get a live update. 
  • A custom dashboard interface was created to get a single view of the extension performance and customer insights. 

Business outcome

The overall process was made online and eliminated any manual work needed. This helped our client increase the efficiency by 50% and reduce the operating time for fund disposal by 80%

At the end, with this custom built extension, the client was able to reach multiple new vendors and end customers thereby rapidly increasing their customer base and meeting revenue goals. 

Ameex is in charge of maintaining the extension, and offering integration support to their partners for business benefit longevity.

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