Financial technology company Vyze has introduced the new Vyze Platform Impact Calculator for retailers.
The interactive calculator provides retailers with a high-level estimate of the value that launching or expanding a financing programme with Vyze can have on their business.
The results from the tool take into account the revenue upside of adding lenders and products, as well as the impact of optimising and improving the customer experience.
Vyze chief marketing officer Doug Filak said: “Retailers understand that financing can deliver both sales and happy customers, but many struggle to predict the impact that expanded credit options can have on their bottom line.
“The Vyze Platform Impact Calculator helps retailers quantify the value they can expect to get from improving their financing offering by leveraging the Vyze multi-lender platform.
"Whether a business wants to add a financing programme for the first time or expand an existing programme, the Vyze Platform Impact Calculator determines the specific return they can expect to see from working with Vyze.”
The calculator determines the revenue increase a retailer can expect from their efforts, by taking the retailer through a short, five-minute questionnaire before working out the revenue potential.
There are two alternate pathways within the calculator depending on whether or not the retailer offers financing options for their shoppers.
Results are based on validated models using more than five years of data and analysis from retailers of all sizes.
Vyze is currently live in more than 2,000 stores throughout the US, as well as various e-commerce sites and call centres.