Small and medium sized businesses are a critical part of Canada’s economy but most wouldn’t exist without financial support during the early stages of their development. This is where Thinking Capital comes in. Founded in 2006 to address the need for alternate SMB loan options, they became the only Merchant Cash Advance company in the country. With an 89 per cent customer return rate and a 40 per cent year-over-year growth rate, Thinking Capital was expanding fast and by 2008 it was clear that paper-based processes were holding them back. This is when they turned to Salesforce.
Using Salesforce Sales Cloud, Thinking Capital shifted away from relying on paper charts and calculators to decide which small businesses qualified for credit and now use an automated system. Instead of having to schedule site visits to inspect business locations, send multiple emails to arrange details and manually assess risk, the entire process is now automated. When a new merchant application is submitted, site visits and sales rep notifications are taken care of automatically then stored in an internal database that is easily accessible for employees to reference later. In addition to enhancing their customer experience, automated processes have eliminated the company’s risk of bad debt.
“Salesforce is at the heart of our company,” said Peter Mazoff, President, Thinking Capital. “Their services have enabled us to scale our operations and act fast with mobile access. No matter where I am in the world, I’ve got everything I need to do my job right at my fingertips.”