Vyze, a cloud-based financial technology solutions provider for retailers and manufacturers, recently announced the debut of a tool that allows retailers to estimate the value of launching or expanding a financing program with the company.
Called the Vyze Platform Impact Calculator, the interactive tool provides retailers with an estimate that reportedly takes into account both the revenue upside of adding lenders and products, as well as the potential impact optimizing the customer experience can have on a retail business.
“Retailers understand that financing can deliver both sales and happy customers, but many struggle to predict the impact that expanded credit options can have on their bottom line,” said Vyze CMO Doug Filak.
“The Vyze Platform Impact Calculator helps retailers quantify the value they can expect to get from improving their financing offering by leveraging the Vyze multi-lender platform,” Filak continued. “Whether a business wants to add a financing program for the first time or expand an existing program, the Vyze Platform Impact Calculator determines the specific return they can expect to see from working with Vyze.”
Following a short questionnaire, the Vyze Platform Impact Calculator is reportedly able to determine the potential revenue delta that retailers could see from adding a financing program. The generated results allegedly account for a number of specific data points, including the retailer’s particular industry, retail sales, average ticket size, etc.
Vyze noted that results are based on validated models that leverage some five years of data and analysis from retailers of all sizes. The company’s solutions are currently live in more than 2,000 stores throughout the U.S., as well as within leading eCommerce sites and call centers. Vyze expects that number to triple in the next six months.
In January of this year, Vyze announced it had seen major growth of its financing platform, which provides consumers with access to capital. As of Jan. 2017, its platform had connected hundreds of thousands of consumers with new financing options and opened up more than half a billion in purchasing power at the point of sale.