The FormPiper FAQ

Curious about how FormPiper can help your business?

Ready to explore the single best way to automate your consumer financing application process? If so, dive right into the FormPiper FAQ. We've gathered common questions from our customers to help you better serve yours. Let's get started.

FAQS

What is FormPiper?

FormPiper is a convenient and straightforward tool that automates your consumer financing application process. Using FormPiper, your customers can apply with a single form. All the information on that form can then be populated on all applications for that customer in seconds. FormPiper also provides a reporting dashboard that gives you all the information you need to make smart improvements to your consumer finance program.

How does FormPiper help my business?

FormPiper streamlines your consumer finance application process through convenient Managed Services and our self-managed option. You'll run more applications, boost your revenue, and build stronger relationships with your customers by providing them with the financing options they want and need.

How does FormPiper actually work?

With FormPiper, once your customer completes the form, you’ll pull up their name in your Dashboard and press the Pipe or API button for each lender. With piped lenders, each lender portal will open in separate tabs. You'll be logged into each one, taken to the application and FormPiper will autofill the application data. You'll then submit your applications, according to your preferred order (or 'waterfall'), until you get an approval. (With our Managed Services, we handle those steps for you.) If you get an approval, it will be smooth sailing, since FormPiper already has you logged into your lenders' portals. With API lenders, you’ll submit the application data to the lender just by clicking the API button. It really couldn't be easier.

What kind of businesses is FormPiper a good choice for?

Here at FormPiper, we champion organizations of all sizes. From single and multi-location retailers to franchise groups, corporations and buying groups, we tailor our offerings to meet your needs, instead of trying to use a one-size-fits-all approach. We're all about doing what's convenient for you, and whether you choose Managed Services or self-managed offerings, you're going to get a great value out of FormPiper, regardless of the size of your organization.

I've heard of other similar companies. What makes FormPiper different?

Companies that offer this type of service are often known as 'waterfall companies.' Most waterfall companies will require you to use their preferred lenders. If you decide you want to add a lender with one of these companies, it's usually going to cost you a lot of time and money. FormPiper is different. We offer both fixed and completely customizable platforms. With our custom platforms, we'll work with any lender you want, tailoring your lender lineup to your needs and customer base. If you want to add a lender, we can do so quickly. Another example is how traditional waterfall companies tend to follow the same submission sequence for every single customer. With FormPiper, you'll be able to control the submission order for each customer. We put you back in the driver's seat.

With FormPiper, will I need to do everything myself?

We have two offerings available, based on the level of service you desire. Option 1 is our Managed Services. With this option, we complete the entire financing process, from application to funding. It's super convenient, and won't require much work on your part. Option 2 is self-managed. You'll keep your financing process in-house and work with your customers to complete all applications and contracts. Whatever option you choose, you can rest assured that FormPiper is going to make your life a whole lot easier.

What kind of reporting does FormPiper offer?

FormPiper provides robust reporting to help you identify potential areas of improvement within your financing program and sales team, including such metrics as financing revenue, lender approval rates, sale close rates, sales associate financing metrics, and much more. You'll access these reports through an easy-to-use dashboard that puts the pertinent data regarding your consumer finance program right at your fingertips.

What about security? Is my customers' information safe with FormPiper?

It is. Your customers' data and your business's data are kept safe and secure through User Verification, PCI Compliance, HIPAA Compliance, and CCPA compliance.

Will my customers get instant approvals with FormPiper?

No, the approvals are not instant; applications will need to be submitted by you or by your Managed Services processor. You'll get a notification as soon as each FormPiper form has been completed. To help make this process easier, we recommend adding verbiage to your website instructing customers to contact your store to discuss all of their options.

Do you sell customer data?

Not at all. The data collected is intended to be used by the merchant solely for the purpose of completing finance applications.

Can I get the lenders I want through FormPiper?

Of course! In fact, FormPiper integrates with any online lending applications. If we don't already have all of your preferred lenders, we can easily add them for you. Just let us know what you need, and we'll handle the rest.

Will you run my customers' credit multiple times?

We don’t affect lenders’ soft or hard credit inquiries. Credit pulls are handled by the lender. FormPiper puts you in charge of submitting applications, and you or your processor will only have to submit as many applications as are needed to get an approval, and no more. You can also submit in whatever order you’d like.

I'm mostly interested in boosting my revenue. Will FormPiper get me results?

Absolutely. FormPiper helps ensure that your customers won't get frustrated halfway through the financing process and quit before trying all their available financing options. This will help maximize your approvals, and more approvals equals more revenue. In fact, in our case studies, customers increased finance applications by 76% and boosted financed sales by 20%. That could be a major boost to your revenue.

I'd like to see FormPiper in action. Where can I check it out?

That's an easy one! Just schedule a demo. You'll get a 1-on1, behind-the-scenes look at how FormPiper can make your consumer financing application process so much easier.

Where can I learn more about FormPiper and the consumer financing process?

Definitely schedule a demo, but also be sure to check out our blog. You'll find detailed articles on FormPiper and the consumer finance process, to give you a more complete picture of what the flaws with your current program might be, and how FormPiper can help you fix them. We update our blog regularly, so be sure to check back often for fresh content.

What do I need to run FormPiper in my stores?

FormPiper is compatible with both PCs and Macs. To run it, you will need internet access and at least one 64-bit computer.

What People Are Saying

Before we started using FormPiper, it would take my managers approximately 20 minutes to complete 4 applications. Now their time is cut in half, so they have more time to pay attention to staff and customers, helping to close more sales.

- Peggy Davis, Petland Ft. Walton Beach, Memphis & Pensacola

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