Technology Inside and Out With a passionate in-house development team , CardCash . com is able to keep ahead of the technology curve in order to improve existing technologies and prepare for shifts in the industry and consumer behavior .
“ Staying ahead really comes down to your team . You need a team that ’ s very passionate and very informed on technology ,” Bohm explains . “ Often people hire outside development teams , but they ’ re not living and breathing your core business . It might be somewhat cheaper , but at the end of the day , you ’ re not going to see that good and secure product .”
CardCash . com ’ s technology department focuses on two main aspects of business : The experience and internal operations .
Consumer Access & Protection Their e-commerce site , mobile-responsive app , and informative blog are some of the ways CardCash . com has streamlined their online experience for ease of use — while also delivering attractive design and useful information . With the shift to e-gift cards , Bohm ’ s team has also focused on fraud protection to ensure gift cards and payment methods are vetted and secure . This not only gives consumers peace of mind when conducting business on CardCash . com , but also protects the company ’ s inventory and assets .
Internal Evaluation & Refinement In-house , Bohm and Ackerman have hired product developers to observe and interview each department . They explore tasks and technology to gauge whether or not existing practices are effective . If processes or practices are found to hinder productivity , they devise ways to improve and streamline them . Just this year alone , such operational evaluations have helped CardCash . com nearly double their volume from the previous year while cutting payroll costs by 10 %.
This practice of constantly evaluating internal and external systems , Bohm explains , follows CardCash . com ’ s intent to remove as much friction from the consumer experience as possible . That includes paying cash to customers up front .
A Sterling Experience Unlike online auction sites , where customers wait for product bids and purchases , CardCash . com immediately pays once the transaction has been approved . This , Bohm explains , reduces friction in the selling process . In order to finance this policy and foster the rapid inventory turnover they see with their site ( with some items purchased within minutes or others within the week ), CardCash . com turned to Sterling National Bank ’ s inventory financing program . “ They ’ ve been a great partner ,” Bohm says . In addition to inventory financing , CardCash . com uses Sterling ’ s online banking services and Automated Clearing House program to pay sellers . “ We ’ re very impressed with the online cash management side ,” Bohm says . “ Their online platform is easy to use and they ’ re also receptive to new ideas . If there ’ s something we can ’ t do , they try to figure out a way to accommodate us .”
What ’ s Next ? The Bigger Picture Moving forward , Bohm continues to focus as much on finding ways for consumers to save money as he does on supporting his team . Not only does CardCash . com aim to ensure that consumers are paid on time , but also that customers receive great service — getting what they want , when they want it — even with significant savings .
“ The rising cost of a living with our economy — it ’ s challenging . There are many people who have a hard time making it ,” he says . “ Some customers send personal , hand-written letters . There ’ s nothing more satisfying than that .”
Interested in inventory financing ? Contact your Sterling relationship manager or Client Services for more information today — at 855.274.2800 .
14 | SNB . COM // CONNECT TECHNOLOGY FALL 2016