Merchant Overview
Founded in 1932 under the name Rihm Motor Company, Inc., Rihm Kenworth is the 2nd oldest continually-operated Kenworth dealer in the world. Rihm Family Companies, Inc. (RFC) is a 4th generation family-owned and operated business that employs nearly 400 people in Minnesota, Wisconsin, and South Dakota. Their divisions include:
- Rihm Kenworth
- RMC Truck Parts, a genuine and aftermarket parts sales company
- Rihm Leasing, a truck lease, rental, and maintenance company
- Rihm Global Sales, which handles international truck and parts sales and service training
RFC is a growth-oriented company focused on always doing the right thing while providing exceptional service to their customers and partners.
The Opportunity: Multi-Location Merchant Processing Reporting
Rihm Kenworth was in a unique position with their merchant services needs. Their rapid growth through acquisition created complexities in their account. They soon realized they had several different merchant services accounts with various providers at different pricing, service level agreements, and hardware terminals. Additionally, they were handling challenging contracts that had Early Termination Fees (ETF) that were over-inflated. The company needed an experienced merchant services provider that could strategically and logistically handle a multi-location build while introducing a PCI compliance overhaul. RMC wanted a cost-effective solution with competitive pricing and cost savings to determine ETF reconciliation.
The company needed a partner that could comprehend their complex needs, propose a solution tailored to their unique situation, and introduce software that not only delivered a return on investment but, more importantly, a positive return on time.
Solution: Multi-Location Reporting and Analytics for Accounts Receivable
Rihm Kenworth identified Evolve Payment as a potential solution partner when owner Kari Rihm met Marnie Ochs-Raleigh at a National Association of Women Business Owners event and determined that Kari wanted to work with a local provider that understood the needs of the business while also supporting a women-owned organization. After expressing concern about having over 10 locations with a variety of MIDs, complex contracting, and service agreements, the Evolve Payment team was able to put together an onboarding plan for each location under an umbrella. This created an intuitive and easy-to-follow reporting structure where the Accounts Receivable teams could have a centralized portal to pull reports by location with one login.
Evolve Payment also spotted hidden costs in Rihm Kenworth’s account that was associated with PCI Compliance, as several locations were paying PCI Non-Compliance fees. The Evolve Payment team was able to assist Rihm Kenworth by instituting business best practices that resulted in a positive return on investment by reducing the Non-Compliance fees.
Result: Easy to Report, Simple to Swipe
With the customer service and industry insights that Evolve Payment brings to the table, Rihm Kenworth continues to be a titan in the Midwest market. Our team continues to provide excellent customer service, effective merchant services pricing, and easy-to-follow tools and guides to ensure RMC employees feel confident and comfortable using world-class hardware and software to process payments. Additionally, the Evolve Payments team partnered with Rihm Kenworth to realize a 23% reduction in processing expenses.
The Evolve Payment team continues to have a great working relationship with Rihm Kenworth’s Accounts Receivable team and the organization as a whole. We’re constantly supporting and managing their multiple locations to minimize the time spent pulling data from multiple accounts with multiple login information. Evolve Payment has been a great resource for RMC as they continue to grow and grow into the business they are today, with over 15 locations. If you’re interested in learning more about how we evolved Rihm Kenworth’s merchant services account, get in touch with our team today. We’ll take your account(s) through the same process and save you time and resources by enhancing your overall payment processing experience.
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