Company: NEWPRO Home Improvement Solutions
Location: Boston, Massachusetts
Topline: Adoption and integration of payment processing and customer management solution provides in-field mobile payment collection resulting in an 82% customer retention rate and highest revenue in over 70 years of business.
NEWPRO Home Improvement Solutions is a family-owned business providing interior and exterior home improvement solutions. Established in 1945, the company now operates two locations with 140 employees servicing all of New England.
Under new executive leadership in 2018, the company put forth a vision for expansion with an emphasis on integrated technology and improved customer experience.
NEWPRO President, Anthony Cogliani stands as third-generation executive leadership for the company. Anthony joined the family’s operations full-time in 2003 and holds a deep understanding of NEWPRO’s strengths and growth challenges.
For over 70 years NEWPRO has held a steadfast customer reputation that has benefitted their profitability. Historically, NEWPRO has held a 75% customer retention rate from job start to payment processing. In 2018 the business realized an opportunity to improve the 25% difference.
“We’ve worked hard to establish a strong customer reputation at NEWPRO. This next era for our business builds off the foundation we’ve established while intelligently setting ourselves up for what tomorrow may deliver.”
Without the ability to collect pre-payment for service bookings NEWPRO was experiencing a 25% loss of business due to job cancellations and finance rejects. Turnover of sales representatives in the field directly related to the customer retention issue as paper payments required long processing times – preventing sales from closing any commission at the time of a booking. The time for transition had arrived and NEWPRO was ready to move forward.
With a desire to set the business up for tomorrow’s successes, a strategic focus was placed on positively impacting payment processing and employee satisfaction.
“Our employees are the greatest asset to our business. With the implementation of new operational systems, we hope to experience a simple fix to pre-payments and sales commissions. Our representatives are the face of NEWPRO and they should feel empowered and confident in the projected commissions of their hard work.”
Solutions & Outcome
Knowing paper processes were inefficient and impractical for a business plan focused on expansion, NEWPRO implemented a modern payment solution that their sales representatives could access online and through a mobile application.
“Of our 140 employees, we have 40 sales representatives in the field. Having to collect checks from customers creates a 2-3 day delay from projected earnings to revenue in the our books. A major contributor to the dissatisfactions we want to solve for our sales reps and company operations.”
Additionally, NEWPRO wanted their payment system to connect with a CRM solution, enabling them to seamlessly manage customer bookings and payments.
To resolve these inefficiencies and improve business operations, NEWPRO took a multi-solution approach implementing PaySimple for paperless payment processing and improveit 360 for customer relationship management. Shortly after installation, NEWPRO saw results.
PaySimple’s mobile payment processing enabled NEWPRO’s sales representatives to process customer payments safely and securely while in the field. Direct visibility of their commission through the PaySimple mobile app eliminated the need to return to the business office for deposits. As a result, representatives were able to reach more customers within each shift. The business was expanding just as desired.
“We have found great success with paperless and mobile payments from PaySimple. Our customer retention has improved from 75% to 82% with the ability to pre-bill our customers for part of their booking. This mobile feature has truly increased our profits faster than we imagined and allowed our sales representatives to see real-time commissions – a game changer for our employee satisfaction and recruiting.”
In 2018 NEWPRO forecasted 26 million in annual revenue. Actual earnings for the year exceeded 30 million and NEWPRO is now forecasting 35 million for 2019. NEWPRO credits the majority of these results to their use of PaySimple and improveit 360.
“The benefits of our strategic decision to lead our next era with strong technology solutions has quickly shown to be the right move for us. In the first year we’ve acquired 3,500 new customers and surpassed our forecasted annual revenue leading us to our most profitable year in business yet.”
Today, NEWPRO is completely paperless and continues to benefit from the PaySimple and improveit 360 integration stating that the consistency and reliability between the solutions has been exactly what was needed for expansion.