HomeRoots streamlines online B2B purchasing for Furniture, Home Decor, Rugs, and Lighting products. Interior designers to large brick and mortar retailers turn to HomeRoots to offer a consumer-like online platform.
In order to make the B2B online shopping experience as easy as possible, HomeRoots knew they needed to improve the payment experience. We sat down with Diane Narwid, VP of Merchandising at HomeRoots, to learn about the launch of HomeRootsPay and what led them on their search for a B2B ecommerce payment solution.
How did you know the B2B checkout needed to be improved?
As part of our customer diversification strategy, our biggest motivation was to offer flexible and extended payment terms, particularly for the long-tail customer segment that could really benefit from the flexibility of extended terms to drive their business.
Buy Now, Pay Later options are something that has typically been available only to the largest customers but not something that has frequently been available to qualified small and medium size buyers. There is a lot of business to be had in this lane and we wanted to make ourselves as attractive as possible to this group of B2B customers.
What solutions did you compare?
We reviewed several payment option services and ultimately went with Balance because of their comprehensive and competitive program offering, the dedicated service and support team, and ability to integrate onto our platform to deliver a seamless and positive experience for our customers.
We were very impressed with Balance’s ability to do real time risk assessment and provide a quick turnaround time in qualifying and granting our customers net terms. At every turn the Balance team is working to make sure our customers receive world class service and offerings.
An additional attraction for us to the Balance platform was the ability for us to easily “white label” the checkout so that it is truly seamless and non-disruptive to the relationship we have with our current and future customers. Allowing us to label this payment product with our own brand was a big plus in our mind.
The team at Balance has been exceptionally responsive with an open and honest line of communication and has partnered with us every step of the way during our integration to ensure the ultimate success of this offering.
What results are you hoping to see?
The ability for our customers to improve their cash flow gives us an advantage over our competitors, and ideally allows our customers to sell more, faster. More options means more business opportunities.
In addition to this partnership extending our reach to new B2B customers to US customers interested in more flexible and varied payment offerings, we are hoping HomeRootsPay will help strengthen our international and cross border ecommerce as well.
Learning from HomeRoots
Ecommerce presents an incredible opportunity for the B2B industry. However to truly grow, merchants need to help all customer types and segments easily purchase online. The problem is that offering terms to both large and small customers can be a lot for AR teams to handle.
But it doesn’t have to be. Thanks to digital and instant underwriting, merchants, like HomeRoots, don’t have to limit the financing they can offer to qualified buyers.