15 percent more first deposits are completed early or on time with Book Now, Pay Later (BNPL) at venues utilizing Carats & Cake’s suite of sales tools and financial software
Carats & Cake, the financial operating system for the events industry, today announced it has integrated digital contracting capabilities into its suite of sales tools. Carats & Cake’s sales tools are a complement to the company’s financial software solutions that enable venues to offer consumers the option to pay-over-time for invoices leading up to an event. With integrated, digital contracting venues benefit from a 15 percent increase in receiving first deposits from customers early or on time, reducing the burden on sales operations teams. Faster time to payment ensures venues have the cashflow to manage and improve operations coming out of the pandemic.
“The events industry is experiencing a massive surge with 2.5M weddings alone expected to occur in 2022. Add onto that corporate events, social gatherings, and other long-awaited celebrations and venue teams are having ‘good’ problems. After a few years of contraction, these teams are seeing demand unlike ever before and with that comes the opportunity for digital tools to streamline and support operations,” said Jess Conroy, CEO and Founder, Carats & Cake. “Our tools and solutions are purpose-built for the events industry. We know these venues’ needs and pain points. Branded digital contracting that’s seamlessly integrated into the consumer payment process is not an end-to-end experience that venues have been able to provide to date. We’ve taken insights from our venue partners to develop the solutions needed to provide venues with a one stop shop to transform their operations, improve cashflow, and get back to the business of helping consumers celebrate life’s special moments.”
Venues have long relied on manual, inefficient processes that were necessary given the high-touch nature of large-ticket sales. Powered by HelloSign, Carats & Cake’s digital contracting capability allows for one-click signature and contract execution. This feature is part of Carats & Cake’s seamless, end-to-end sales experience whereby the contract is branded for the venue and leads directly to an initial deposit invoice that can easily be paid over time in four interest-free monthly payments.
“Our mission at Carats & Cake is to improve venue businesses. That means improving operational efficiencies, easing the consumer experience, driving up revenue, and more. Each component of our sales tools and financial solutions are purpose-built and integrated together to reach these objectives for the world’s leading independent venues and property groups,” said Rhett Keller, Chief Revenue Officer, Carats & Cake. “Digital contracting is just the latest capability we’re delivering to meet venues’ needs. Each day I listen as venues lament the functionality and aesthetics of the sales tools they’ve had to date. We are excited to continue bringing new features to these booming businesses that meet their unique needs and improve their operations.”
