Digital transformation to enable pawnshops do more for customers
Pawnshop owners may expect to grow and improve their business as well as prepare themselves for industry challenges through the help of innovative solutions from
Globe myBusiness, the micro, small, and medium-enterprise arm of Globe Telecom.
During the recent annual mid-year conference of the Chamber of Pawnbrokers of the Philippines (CPPI) supported by Globe myBusiness, the pawnshop owners had the opportunity to connect with other entrepreneurs. They also learned about new technologies that could help them address the challenges confronting the pawnshop industry today such as the need to manage multiple branches, automate processes, and take advantage of the internet, among others.
“Globe myBusiness can help businesses like pawnshops become more efficient by providing them with the most up-to-date and relevant products and solutions for better management and communications, and worry-free operations. This way, they will be able to enhance their daily operations, promote better customer experience, and increase their competitiveness,” said Derrick Heng, Senior Advisor for Globe myBusiness.
Due to the low bank penetration in the country, the pawnshop industry continues to thrive—primarily serving the unbanked members of the population for remittance and easy credit, with personal items as collateral. Pawnshops are also being tapped to pay bills and exchange foreign currency.
Danny Co, PRO Pawnshop owner, said: “Business owners should be open to (the use of) technology. Especially at this time, we should be abreast with technological tools and gadgets and do our research well.”
Co used to work in the banking and aquaculture industry before starting his own pawnshop, which began operations in Cebu in 1994. He shared that being hands-on, knowing when to delegate work, and using technology are essential to how he operates his business.
The same applies to Geraldine Sangao of Milova Pawnshop. With multiple branches under her care, Geraldine emphasized the importance of having a strong and reliable internet connection, which Globe myBusiness provides.
“The internet is vital to our operations. You need a great internet provider to be able to operate and partner with big companies. Since the beginning, I’m happy with Globe’s level of customer care and service,” Geraldine says. With Globe as Milova Pawnshops’ connectivity provider, the company was able to improve inter-branch operations and communication.
On the other hand, AdSpark, a digital and mobile marketing solutions company fully owned by Globe Telecom, informed pawnshop owners how they can use digital marketing to their advantage in today’s internet-savvy world, to which Maryann Padrilannan, owner of SMSP Pawnshop, agreed to.
According to Maryann, her team’s research efforts led to the creation of SMSP’s website and social media pages and the use of cloud technology for better operations. Still, she admits they need help in maximizing their digital assets.
“We have more than 4,000 customers per month, but 4,000 more could be looking for our services in other locations. That’s why we are looking for ways to use technology in reaching out to more people. We want to smoothen out our processes and pour our best efforts in digital marketing after,” she said.
Among the solutions being offered by Globe myBusiness for pawnshops are the Software-Defined Wide Area Network (SD-WAN), which will enable them to get secure real-time information across all branches, and Globelines, which provides quality voice services from basic direct lines to multi-channel line services.
Globe myBusiness also keeps its clients on top by informing them of trends, providing tips, and bringing together communities through regular workshops, and seminars for business owners where the company has established itself as an expert and guide in the industry.
Globe myBusiness supports UN Sustainable Development Goal No. 8, which aims to encourage sustained economic growth by achieving higher levels of productivity through technological innovation as well as encouraging entrepreneurship and job creation.