Revival Concrete Coatings: Streamlining Payment Processes with Builder Prime Powered by Payabli
case study overview
The Company
Revival Concrete Coatings is a trusted provider of quality concrete coating solutions. With a strong focus on customer satisfaction, they are known for transforming spaces and delivering high-quality work.
The Challenge
As they expanded, Revival Concrete Coatings faced cash flow delays and high credit card fees due to a slow, manual payment process, making it challenging to cater to customers preferring traditional payment methods.
The Solution
By implementing Builder Prime Payments powered by Payabli, Revival streamlined payments with secure, automated options, making it easier for customers to pay and eliminating manual payment processing delays.
The Payoff
The automated payment system boosted cash flow, raised sales by 63%, and improved contract processing by 81%, enabling the company to grow quickly while enhancing customer trust and loyalty.
The Company
Revival Concrete Coatings, a trusted concrete coating business focused on customer service, aimed to improve operational efficiency and customer loyalty. Great projects are only half the battle; keeping their operations flowing smoothly is just as critical. Offering an easy, secure payment process was one of the keys to their success story.
Did you know that slow payment processing is a leading cause of cash flow problems for small businesses in industries like concrete coatings and contracting? Nearly 60% of companies in the home improvement sector report cash flow issues because of delayed payments. Fortunately, Revival Concrete Coatings didn’t let that slow them down.
The Challenge
Revival Concrete Coatings needed to improve its payment collection process as it expanded its operations. They were still collecting payments the old-school way: customer service reps or a manager would call customers to get payment details over the phone. The process took anywhere from 5 to 7 days to complete. This time-consuming manual payment process impacted their cash flow and Revival’s ability to focus on profitable jobs.
However, Revival Concrete Coatings was also losing money to credit card processing fees. This reduced their profitability significantly. On top of that, many of their older customers were hesitant about using online payment methods, preferring checks or cash. They required customers to pay a 50% deposit upfront, with the remaining 50% paid upon project completion. Revival Concrete Coating needed a payment system that was fast, secure, easy to use for all their customers, and better for their profitability.
The Solution
Revival Concrete Coatings saw Builder Prime Payments, powered by Payabli, as their solution. By implementing Builder Prime, they could streamline payments to reduce financial challenges for the team and enhance the customer experience. Additionally, Builder Prime Payments enabled them to offer secure, flexible payment options like credit cards or ACH, so customers had more choices. The ability to pass the credit card fees to the customer reduced the impact of credit card fees.
Builder Prime automated the payment process, eliminating the need for tedious manual entry. Now, when customers sign an estimate, they receive an automated text message and email with a secure payment link so they can quickly submit their deposit. The same happens at the end of the project for the final payment: what used to take up to 7 days now is done in 1 day without even picking up the phone.
Builder Prime Payments also helped address the needs of customers who were initially hesitant about digital payments. For example, an older customer who was hesitant about online payments was surprised and amazed by the security and simplicity of Builder Prime Payments. After a smooth first transaction, she became a repeat customer and praised the company for its convenient payment process. This not only reinforced the brand’s reputation for stellar service but demonstrated how seamless payment options build customer loyalty.
The Payoff
The results of Builder Prime Payments, powered by Payabli, were immediate for Revival Concrete Coatings. Cutting down the payment process timeline dramatically increased company cash flow. As a result of the implementation of Builder Prime Payments, the company enjoyed:
- 63% increase in total sales, thanks to a faster, smoother payment process that contributed to happier, more committed customers and more closed deals
- 81% boost in the number of company contracts processed as they won more jobs and scaled their business rapidly
By reducing manual work, Revival’s employees could focus on essential tasks, like providing better customer service and handling new leads. Eliminating the long hours spent chasing down payments boosted employee morale and made it easier for the company to expand and handle more business.
Revival Concrete Coating built trust and converted hesitant clients into repeat customers by offering a secure and simple payment process. Overall, Builder Prime helped Revival Concrete Coatings cultivate a loyal customer base that helped them experience growth and expansion as a business.
Conclusion
For Revival Concrete Coatings, Builder Prime simplified the payment process and reduced costs, leading to a significant uptick in sales. The company strengthened its reputation for providing a seamless, customer-friendly experience, a critical attribute that attracted more customers.
In industries like concrete coatings, where slow payments can slow cash flow and delay business growth, having a fast, secure, and easy-to-use payment system is an absolute must. Revival is an example of a business that thrives by reducing the headaches of credit card fees and manual processing. Watch this webinar to learn more about Revival Concrete Coatings experience using Builder Prime Payments.
