Case Study for:Floor & Decor
Floor & Decor, a hard surface flooring retailer with over 70 retail stores nationwide. F&D serves homeowners as well as professional contractors retailing its products through its stores in several states across the nation. It also sells products online.
In order to give their commercial customers the best prices and most flexible purchasing options possible, Floor & Decor offers lines of credit through their preferred credit provider, CIT. To fully leverage and scale this partnership, F&D needed a way to quickly check credit availability in their retail stores on demand. It also needed to generate invoices to send to their commercial customers while providing assignment notices to CIT.
The company also requires that their billing and invoicing be responsive and automated such that it can hold invoices until it receives notification that the invoiced inventory has left the store before submitting it for payment.
As a retail outfit, this level of automation with regard to commercial servicing was not available in their current POS system so the process from credit approval, to invoicing, to payment required numerous manual steps and time to fully orchestrate.
F&D leveraged the cloud and BillingPlatorm to place an invoicing and credit management system between CIT, the POS system and their store service clerks in order to tie all the processes together in a logical and manageable way, with as much automation as possible. The solution made it easy and seamless for store clerks to access Commercial credit limits centrally, in all of its stores, nation-wide.
BillingPlatform automated the invoicing and credit payment process by retrieving data from both the bank as well as the POS in order to notify customers of their approved credit line; deliver dual copies of invoices to the bank and the customer; and update information about available credit in near-real-time.
The solution was configured to completely centralize and automate commercial billing, credit checks, and related functions by combining and centralizing data from both the POS as well as the CIT systems. It also provided web-based, billing and credit management tools for corporate management for managing the application configuration, invoicing processes, running reports, and servicing commercial customers.
The system eliminates manual invoicing cycles as well as long-winded, manual credit approval processes to create a fluid and intuitive, automated ecosystem supported by powerful reporting and management tools. The solution also delivers intelligent, event-based invoicing to ensure just-in-time delivery of invoices aligned directly with the delivery of goods.
Specific Features include:
- In-store, centralized Credit Availability Checks
- Centralized, web-based commercial and credit Account Management
- Account, Credit and Activity History Tracking
- Automated Return and Refund Accounting
- Document generation for automated credit approval letters
- Automated Invoicing including:
- Customized Invoice Templates
- Invoice Approval Processing
- Automated print queuing
- Event-based invoicing cycles
- Rate override
By thinking outside the box and leveraging cutting edge, cloud technology, Floor & Decor was able to transform a manually-intensive, cumbersome collection of tasks into a dynamic monetization ecosystem that delivers a seamless experience for their customers and employees and allows them to extend the very best credit terms to their commercial clients. In a very short amount of time, Floor & Decor was able to implement a completely configurable solution without having to write a single line of code.
The company can now easily scale their commercial credit and retail services with the best possible financing options provided by CIT bank. A once lengthy, manual invoicing process is now completely automated across all stores, nationally and the entire cycle from credit approval, to retail purchases, to invoicing and payment can be managed and monitored in a single, user-friendly, web-based application.