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The flexibility to keep on rolling

With help from Intrum Justitia, tyre chain Vianor can now provide instalment plans and instant finance, benefiting both its customers and its profitability.

Owned by Finland’s Nokian Tyres group, Vianor is one of the world’s leading tyre and vehicle-service chains. The company administers more than 1300 outlets in 27 countries, including nearly 300 stores in the Nordic countries.

Because buying tyres is a major – and often unexpected – expense for consumers, Vianor has for some time offered its customers the ability to make purchases on finance.

However, Vianor’s Business Area Manager for Retail, Juha Mustakangas, explains the company’s old system was inefficient and cumbersome. “It was very hard to use for both the sales personnel and for the customer,” he says. “It involved filling in several forms, and the credit application took a long time to go through.”

Eager to enhance the service provided to customers, Vianor turned to Intrum Justitia to help improve the provision of credit within its Finnish operations. “We wanted to make sure that our customers would be able to drive safe, serviced vehicles with safe, suitable tyres, even if most of their cash flow was already tied up in something else,” explains Mustakangas.

In 2013, Intrum Justitia supplied Vianor with ByJuno, a streamlined system that allows for the provision of finance in an instant, as well as the option of paying in instalments. “The customer simply chooses the ‘invoice’ option on the payment terminal at the counter,” explains Mustakangas. “Then they type in their social security number, and their credit is instantly checked. They can also choose to pay in instalments if they wish. The actual invoice, or invoices in case of instalments, is then sent to their home by post.”

Mustakangas says the benefits for customers include flexibility over both payment timing and size. As a result, customers can often afford to buy the better, safer pair of tyres they really need. 

From Vianor’s perspective, the system has become a selling point whose simplicity brings in new customers. “I think we can safely say that the service has secured us customers who would have otherwise put off their purchases waiting for a better financial situation,” he says. “Our customers can also purchase higher priced items through controlled instalments, thus raising the average purchase point.”

Following the success of ByJuno, a similar system has now been installed in Vianor’s Finnish online shop with great success. “There are also now plans to expand the scheme to other countries that Vianor currently operates in,” says Mustakangas.