ThinkSmart Extends JB Hi-Fi Contract to 2014

06 May ThinkSmart Extends JB Hi-Fi Contract to 2014

Posted at 12:39h in Investor News by
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  • Extends agreement with JB Hi-Fi for Australia and New Zealand to 2014
  • Both parties aim to achieve full point of sale (POS) system integration incorporating e-signatures by April 2012
  • Supports multi channel customer strategy for both online and in store approval processes

ThinkSmart Limited (ASX:TSM), a leading international computer and office equipment financing company, has extended its relationship with JB Hi-Fi Limited to mid-2014.

The extension includes an agreement to integrate ThinkSmart’s patented QuickSmart online processing system with JB Hi-Fi’s point of sales system that aims to give customers access to full e-signature and paperless in-store capability by April 2012 as well as for potential use by online customers.

“Enhancing customer experience is paramount in driving both in-store and online sales” said ThinkSmart Executive Chairman and CEO Ned Montarello. “These new initiatives are designed to do that.”

ThinkSmart first deployed its QuickSmart online processing system through all JB Hi-Fi stores in April 2009. The system has helped deliver a 60% reduction in customer processing times and streamlined identity verification and documentation delivery as well as lowering ThinkSmart’s operating costs.

“It’s exciting that we’re extending our agreement with JB Hi-Fi in Australia and New Zealand at the same time as we aim to bring e-signature technology and paperless processing to the Australian electrical in store and online retailing marketplace,” said Mr Montarello.

“We’ve been working with ThinkSmart since 2007 and we were very happy to extend our agreement with them through to 2014,” said JB Hi-Fi CEO Terry Smart. “We remain focused on providing the highest level of service to our customers.”

“The implementation of these latest initiatives will also deliver further operational efficiencies for both JB Hi-Fi and ThinkSmart,” said Mr Montarello.

Today’s announcement comes ahead of ThinkSmart’s AGM on May 16th.

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