Sunlight Financial and Bodhi Partner to Expedite Post-Sale Documentation, Save Residential Solar Installers Time and Drive Operational Excellence
First-of-its-kind integration streamlines back-end operations by enabling automated submission of post-sale documents from installers' CRMs to Sunlight's portal, Orange®
Sunlight Financial Holdings Inc. ("Sunlight Financial", "Sunlight" or the "Company") (NYSE:SUNL), a premier, technology-enabled point-of-sale finance company and Bodhi®, a leading solar customer experience platform, today announced a new partnership through which solar installers are empowered to automatically submit the post-sale documents Sunlight requires via an integration between Sunlight's technology portal, Orange®, and Bodhi's digital customer experience platform, Bodhi® Pro.
"Sunlight Financial's new partnership with Bodhi addresses a key installer pain point, document submission," said Matt Potere, CEO of Sunlight Financial. "Our integration with Bodhi will save installers time and enable Sunlight to access underwriting materials with greater ease. It's a classic win-win that will further simplify and strengthen the Sunlight experience."
Bodhi's patented technology platform, Bodhi® Pro, integrates with installers' CRMs, project management systems, document storage services, and monitoring devices. Through the Sunlight-Bodhi integration, installers that have partnered with both Sunlight and Bodhi® will no longer have to manually submit project documents to Sunlight's proprietary Orange® portal. Going forward, Bodhi® Pro will automatically submit to Orange® the documentation and solar system information Sunlight requires to review and approve each project milestone. In turn, Sunlight's approval decision will be automatically reported back to the installer, enhancing operational efficiency. Bodhi® Pro will also provide homeowners with updates on progress toward installation via text, email, and installer branded in-app notifications.
"By automating document submission, we want to not only give installers time back, but also help them improve operational efficiency across their business and get paid faster," said Scott Nguyen, CEO of Bodhi. "We know that when back-office operations move faster, cancellation rates go down, reviews and referrals go up, and companies become more resilient."
As a bonus, Sunlight Financial's solar installation partners will receive for free the first month of Bodhi's automated solar customer experience platform, Bodhi® Pro. Sunlight partners will also receive a 50% discount on Bodhi's standard implementation fee. To learn more and take advantage of the partnership, installers can speak to their Sunlight and Bodhi® representatives or visit https://sunlightfinancial.com/enroll/.
About Bodhi
Bodhi® is a leading solar customer experience platform. Bodhi® automates communication and personalizes the homeowners' experience, so that installers can focus on what they do best - executing projects, making more sales, and transforming communities around energy. To learn more, visit bodhi.solar.
About Sunlight Financial
Sunlight Financial (NYSE:SUNL) is a premier, technology-enabled point-of-sale finance company. Sunlight partners with contractors nationwide to provide homeowners with financing for the installation of residential solar systems and other home improvements. Sunlight's best-in-class technology and deep credit expertise simplify and streamline consumer finance, ensuring a fast and frictionless process for both contractors and homeowners. For more information, visit www.sunlightfinancial.com.
Forward-Looking Statements
The information included herein and in any oral statements made in connection herewith may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may generally be identified by the use of words such as "could," "should," "would," "will," "may," "believe," "anticipate," "outlook," "intend," "estimate," "expect," "project," "plan," "continue," or the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Sunlight disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Sunlight cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Sunlight. Such risks and uncertainties include, among others: material adverse impacts from macro-economic conditions including unprecedented interest rate increases on business, profitability and cash-flow, risks relating to the uncertainty of the projected operating and financial information with respect to Sunlight; risks related to Sunlight's business and the timing of expected business milestones or results; global supply chain shortages, competition for skilled labor, and permitting delays; the effects of competition and regulatory risks, and the impacts of changes in legislation or regulations on Sunlight's future business; the expiration, renewal, modification or replacement of the federal solar investment tax credit, rebates and other incentives; the effects of the COVID-19 pandemic on Sunlight's business or future results; Sunlight's ability to sustain profitability and to attract and retain its relationships with third parties, including Sunlight's capital providers and solar contractors; the financial performance of Sunlight's capital providers and contractors; the willingness of Sunlight's capital providers to fund loans on terms desired by relevant markets and economically favorable to Sunlight; the impact of inflation and increased interest rates on Sunlight's capital providers and the cost and availability of credit from our capital providers as well as on the demand for solar panel installation and home improvement; changes in the retail prices of traditional utility generated electricity; the availability of solar panels, batteries and other components and raw materials; and such other risks and uncertainties discussed in the "Risk Factors" section of Sunlight's Form 10-K as filed with the Securities and Exchange Commission ("SEC") on May 4, 2023 and Sunlight's 10-Q as filed with the SEC on May 15, 2023, and August 9, 2023. Should one or more of the risks or uncertainties described herein occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Sunlight's SEC filings are available publicly on the SEC's website at www.sec.gov.
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