Bob Mills Furniture creates efficiencies and revenue with CommercePayments®
Founded in 1971 with one store in Oklahoma City, Bob Mills Furniture has grown to nine retail locations throughout Oklahoma and Texas. It carries nearly 50 brands of furniture, including sets for living rooms, bedrooms, dining rooms, home offices and entertainment centers, as well as custom furniture, home décor and quality mattresses. Each location features a Sleep Spa® with the exclusive bedMatch™ mattress technology, which provides recommendations to customers on the right back support.
Efficiency and customer service are paramount to Bob Mills Furniture.
With that in mind, it began a relationship with CommercePayments® in 2015. Since then, the company has used the Payment Hub, AP Card and Prepaid Expense Cards to create a robust Accounts Payable (AP) department that produces a significant return on investment.
Prior to using Payment Hub, two AP employees spent most of their days entering invoices and processing payments. In fact, in one year alone, they churned out almost 5,000 checks. By encouraging vendors to accept electronic payment via AP Card or ACH, the organization dramatically increased the efficiency of its AP department. One of those employees now has Human Resources responsibilities, which saved the company from adding additional headcount to its payroll.
“The success of the entire program is an outcome of our relationship with the CommercePayments® team. They provide a level of service that makes us feel like we are their most important customer, and that means a lot.”
– JEFF HAYS, CHIEF FINANCIAL OFFICER
Not only did Payment Hub create a more streamlined payment system, it returned money to the company’s bottom line. With nearly 40 percent of its more than 900 vendors accepting AP card payments, Bob Mills Furniture has received approximately $500,000 in revenue share in just five years.
“Vendors appreciate the option to be paid with an AP Card or ACH payments,” said Jeff Hays, chief financial officer. “For those who want to be paid quickly, the AP Card is a benefit to working with us.”
Recently, Bob Mills Furniture brought its delivery services in-house as one way to improve internal processes and create better customer service. They empowered drivers to service warranties on furniture, and enabled them to do so by issuing them Prepaid Expense Cards. Employees can buy supplies or hardware to ensure complete set-up and installation on the day of delivery. This reduces costs associated with scheduling and staffing another delivery, and provides customers with the best service possible.
The Payment Hub portal interfaces with the company’s existing accounting system, helping it create an automated payment strategy that saves time and money. To streamline AP functions, they use AP card, ACH and check capabilities within Payment Hub. During enrollment, vendors are encouraged to enroll in the AP Card program. Additionally, the CommercePayments® dedicated support team handles all vendor support and maintains all vendor information.
“We’ve earned approximately $500,000 in revenue share through the AP Card program over the past five years.”
– JEFF HAYS, CHIEF FINANCIAL OFFICER
