JB Hi-Fi and leading international computer and office equipment financing company, ThinkSmart Limited, have extended their contract through to mid-2011, and introduced its new online processing system across all 105 stores.

The new agreement was just announced on the ASX and comes just after ThinkSmart’s new system, QuickSmart, was introduced across all JB Hi-Fi stores. A move that has delivered a 60 per cent reduction in customer processing times as well as lowering ThinkSmart’s operating costs.

“We are pleased to extend our agreement with JB Hi-Fi in Australia and New Zealand,” said ThinkSmart founder and CEO, Ned Montarello.

“We see it as very fitting that this has occurred at the same time as we have completed the roll-out of our QuickSmart processing system, which can help support JB’s growth in the region.”

According to ThinkSmart the new system delivers measurable improvements for both the customer and salesperson due to the fact that it reduces processing times, streamlines identity verification and documentation delivery. Not to mention it also reduces processing costs.

“We can process more applications per handout and are creating further efficiencies in our back-office operations which will be important as we expand the Australian business,” said Montarello.

“We expect the front-end efficiencies will only serve to make it easier and therefore attractive for the retail sales staff to use our products.”