Eduardo Perez’s journey as a leader is deeply rooted in his early experiences as a quality engineer. In those days, his primary responsibility was to ensure that products met the highest standards. “When there were issues, I had to visit customers, work with them, and find solutions,” he recalls. This hands-on experience taught him early on that the key to success in any role is being customer-centric.
From there, his career naturally evolved. Eduardo moved from process improvements to analyzing and eventually leading operations. During his decade-long tenure at Capital One, he became known for his expertise in process improvement, always with a sharp focus on enhancing the customer experience. His passion for this led him to write a book titled *Simplified Process Improvement*, where he emphasized the value of refining processes to better serve customers. “I’ve always believed in Henry Ford’s saying, ‘It’s the customer that pays the wages, not the employer,’” Eduardo says.
Six years ago, he joined Tricolor Holdings, and from day one, his mission was clear: elevate the customer experience. “It’s been my focus ever since,” Eduardo shares. During this period, Tricolor experienced rapid growth, and Eduardo played a significant role in shaping the company’s operational processes. His involvement from the ground up gave him a deep understanding of the intricate workings of the business.
Despite his in-depth knowledge, Eduardo is a firm believer in empowering his team. “I trust my leadership team to run the operations,” he explains. “I understand that they need the freedom to make mistakes and grow their own leadership skills in the process.” His leadership style, as he describes it, is akin to the relationship between an editor and a writer—he trusts his team to execute, but steps in to offer guidance and feedback when necessary. “Sometimes they come to me for input, other times I just check in. But there’s always mutual respect, and they know I have their best interests—and the company’s—at heart.” This balance of trust and involvement has been a key factor in the team’s high performance under his leadership.
Building a Customer-Centric Ecosystem
At Tricolor Holdings, customer experience is at the heart of everything. Over the years, the company has developed an end-to-end customer-centric infrastructure with checks and balances woven throughout the entire customer journey. This approach isn’t just internal—customer feedback plays a key role in shaping operations. “We measure ourselves and also use the Voice of the Customer (VOC) as external validation,” Eduardo explains. Tricolor conducts internal surveys at critical touchpoints and reviews both positive and negative feedback in detail.
For negative reviews, the team dives into each case to address it head-on, while positive feedback is celebrated—especially when an employee is named directly. “We recognize our team members internally for creating those positive experiences,” Eduardo adds.
Patterns from reviews often drive future improvement projects, ensuring the company stays aligned with customer needs. Tricolor also holds regular customer focus groups to keep pace with evolving customer expectations. Eduardo recalls a specific instance when insights from customer feedback reshaped the company’s approach.
Tricolor sells autos face-to-face at their stores while managing their own loan portfolio and providing a free warranty. They also operate service shops to uphold this warranty. From analyzing customer experience data, the team discovered that mechanical issues shortly after purchase—though rare—tended to lead to complaints. “These issues, even if they affected only a fraction of our sales, often escalated quickly,” Eduardo shares. As a result, Tricolor used this data to inform vehicle decisions, ensuring that certain models with a higher likelihood of early mechanical issues were avoided.
“The beauty of our operation is that everything is interconnected,” Eduardo emphasizes. Customer experience isn’t just about the store—it influences loan servicing, vehicle purchasing decisions, and even the face-to-face interactions at the stores. “Analytics is the backbone of our business,” he adds.
Data-Driven Excellence in Loan Management
Managing a $1 billion loan portfolio while maintaining top-tier service is no small feat, but Eduardo and his team at Tricolor Holdings have found a winning formula—data. “We track everything,” Eduardo says. From the moment they purchase a vehicle at auction to its reconditioning, transport, sale, loan servicing, and beyond, Tricolor connects the dots between the vehicle and the customer. This comprehensive data allows them to make informed marketing and management decisions.
Each member of the leadership team, from frontline managers to executives, has access to real-time reports that help them stay on top of operations. These reports aren’t just informative; they’re actionable. “We have control triggers that alert us when certain parameters are beyond their guardrails,” Eduardo explains. The team is trained to act quickly, often solving potential issues before they escalate into real problems.
One of Tricolor’s most powerful tools is its proprietary risk model. Using data, the company can forecast which loans are riskier—even if they appear similar on the surface. “This allows us to execute risk-based strategies that guide where we should focus more attention,” Eduardo explains. From which agents handle specific loans to tailored contact strategies, Tricolor’s approach ensures efficiency and minimizes risk, all while maintaining customer satisfaction.
The Power of Culture: A Core of ‘Vamos Con Todo’
At the heart of Tricolor Holdings is its commitment to the Hispanic community—both in its customers and its workforce. A significant percentage of employees are Hispanic, and many of the company’s principles are deeply rooted in that culture, especially a strong work ethic. “We have a saying: ‘Vamos Con Todo,’ which means we give it our all, all the time,” Eduardo shares. This ethos of hard work and dedication is a key reason for Tricolor’s success.
The company operates under four sub-brands, each tailored to different target audiences or geographic regions. Despite this diversity, the customer experience remains consistent across all brands, thanks to Tricolor’s centralized customer experience practices. “Our NPS scores are consistently high across the board,” Eduardo notes with pride.
Reputation is everything to Tricolor, and the team is laser-focused on addressing every customer concern with urgency. “We don’t take any customer for granted,” Eduardo explains. In an industry where customers can easily shop for the cheapest option, Tricolor has set itself apart by building strong relationships based on trust and service.
Each quarter, the company produces an internal reputation report that breaks down key review drivers by region, complaint type, store, and brand. Tricolor also monitors its competitors’ NPS scores, making sure they’re staying ahead. “We take our reputation seriously,” Eduardo emphasizes. In today’s social media-driven world, one great experience can go viral—and so can one poor one. For Tricolor, every customer interaction counts.
Tricolor’s “Fail Fast, Learn Fast” Mindset
At Tricolor Holdings, innovation is part of the company’s DNA. Their leadership team fosters a culture of continuous improvement, where experimentation is encouraged and mistakes are viewed as learning opportunities. “We push to fail fast and learn fast,” says Eduardo. This philosophy drives every aspect of their business, from operational efficiency to cost-saving initiatives.
Tricolor doesn’t just experiment for the sake of it. Each trial is rooted in measurable, data-backed research, ensuring that every initiative is tracked and the results are clearly defined. “At any given time, we’re likely experimenting with one or two different changes in any department,” Eduardo explains. This methodical approach allows Tricolor to remain nimble and quick to adapt while pursuing breakthrough innovations.
What sets the company apart is the leadership’s engineering mindset. Many senior leaders, including Eduardo, are trained engineers, and this background has shaped a culture of precision and continuous improvement across the organization. The commitment to evolving processes and finding efficiencies is more than a strategy—it’s a fundamental way of doing business.
Tricolor’s leadership also extends this mindset to how they manage their employees. No role is deemed less valuable than another. Eduardo emphasizes that “every employee plays a key role,” whether they’re based in the U.S. or Mexico. This equitable approach fosters a meritocratic culture where high performance is rewarded, and cross-border teams regularly engage in friendly “champion vs challenger” competitions, driving both collaboration and excellence.
Focusing on Customer Experience for a Rapid Growth
Tricolor Holdings’ explosive growth, recognized by its spot on the Inc. 5000 list for four consecutive years, has been fueled largely by its commitment to delivering outstanding customer experiences. Eduardo understands that, in a highly competitive market, customer experience can make or break the business. “I don’t think customer experience can be neutral,” he shares. “Customers either really liked their experience, or they didn’t.”
This understanding underscores the company’s high Net Promoter Score (NPS), a reflection of its overwhelmingly positive feedback. For Eduardo, the relationship between excellent customer service and growth is clear. Without strong customer satisfaction, Tricolor’s rapid expansion might not have been possible.
Eduardo’s background leading the sales organization has given him insight into the nuanced differences between regions, whether it’s the preference for trucks in Texas or small SUVs in California. It’s not just about individual preferences—it’s about understanding the environment that shapes those needs. Economic conditions, local industries, and even regional regulations all play a role in how customers perceive value.
“Like many of our other decisions, we rely on data and analytics to drive how we adapt to these different markets,” says Eduardo. Rather than making assumptions, the team lets the data speak, ensuring that their strategies are rooted in fact rather than speculation.
Always Evolving Customer Experience
As Tricolor Holdings continues to expand into new states and markets, Eduardo recognizes that the journey to delivering a perfect customer experience will never be complete. “Until we have a year without a single complaint, my job is not done,” he states. The company’s focus on customer experience (CX) remains a core priority, and they are constantly seeking ways to evolve.
Future plans include delving deeper into customer focus groups, allowing Tricolor to better understand any shifts in customer expectations. This approach ensures that they remain agile, ready to adapt to new challenges that expansion into other regions may present. “We know that delivering the best customer experience in our industry will never end,” says Eduardo. “Being light on our feet and ready to react quickly to change is always in our playbook.”
This forward-thinking attitude ensures that Tricolor will not only maintain its strong standing in the market but continue to lead with innovation and customer satisfaction as their guiding principles.
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