Context
7‑Eleven is one of the world’s largest convenience store chains with thousands of stores operating across several countries. Known for its extensive network of franchised locations, the brand regularly processes applications and operational requests that require credit checks as part of its internal workflows.
With such high volumes of applications and short operational timeframes, the efficiency of back-office functions is critical. Even minor improvements to internal systems can positively affect team productivity and reduce operational costs across departments.
Problem
The credit verification process at 7-Eleven was manual and time consuming. The team had to go through multiple steps across various systems in order to accomplish a single credit check for an applicant.
This manual process slowed down operations, and the team spent considerable effort each day completing credit verifications. The key challenges experienced by 7-Eleven included:
- Exporting applicant data files from internal systems
- Formatting those data files before uploading them to third-party credit bureaus such as Equifax
- Importing files and waiting for credit information to return
- Manually attaching the credit report to the correct applicant record
- Spending 1–2 hours per day processing credits
- Employing a 6-person team just to handle the workload
Solution
To eliminate long tedious process, 7-Eleven implemented Credit Checker from Cloud Maven, Inc. Our solution streamlined the credit verification process and integrated it with the existing system so there would no longer be the need for numerous manual steps to accomplish a single credit check.
What was previously a complex, multi-system process became a fast, single-click action.
Key improvements include:
- Automated credit checks from the application record using a single button click
- Automatically retrieve applicant credit history from Equifax
- Instantly save credit report to the correct applicant file
- No need to manually export, format and upload applicant files to Equifax
- Quicker decisions due to instant access to credit information
Implementation
The implementation process was smooth and collaborative. Our team worked closely with 7-Eleven to deploy the Credit Checker solution and assist with the transition to the new workflow. We ensured the roll-out was successful, and the end-users could quickly begin to take advantage of the automation of the credit verification process.
Results
The new system completely changed how 7-Eleven managed the credit verification process from a daily manual process to an automated workflow.
Key outcomes included:
- 75% reduction in credit verification time
- Team size reduced from 6 members to 3
- 1-2 hours of daily manual work eliminated
- Single-button click to perform credit checks in seconds
- Substantial increase in operational efficiency for the team
Cloud Maven has been extremely professional to work with. They’re quick on their responses, they’re very insightful. They’ve walked us through the process. I highly recommend using them.
7-Eleven
