5 Ways You’re Losing Money

HERE’S THE THING…

If you’re not currently utilizing a formal financing partner as a technology provider, you are losing out. It is as simple as that. When it comes to purchasing technology, many businesses aren’t keen on paying in full on most big-ticket items. Here’s a few reasons why partnering with a formal technology focused financing company is in your best interest:

    1. YOU ARE LOSING DEALS TO COMPETITION

      Your best competition does have a formal partner. Like a Dell Finance, HP Finance or Cisco Capital they truly ‘get’ controlling refresh cycles and having a clearer picture of customer buying patterns. Additionally, other technology leasing companies who sell equipment will bring their technology partner in, take your hard earned deal or at the very least bring in additional competition which will ultimately drop your margin.

    2. YOU’RE GIVING UP ANNUITY

      A solid financing partner not only provides an incredible resource for your business but it also helps increase repeat business and get rid of transactional business. If you let your customer go to a captive finance company such as Dell, HP or Cisco or any other that you are not in a partnership with, there is a huge risk. You are giving up an easy way to maintain contact and insight into refresh cycles and buying patterns. Do you think “MASSIVE OEM CAPITAL” cares who your customer buys from as long as it’s their product?

    3. HOW WELL DO YOU KNOW YOUR CUSTOMERS

      It’s a fair question. You may have good rapport with your customer, but what do you know about their current financial status? Do you know if they are currently using leasing in other aspects of their business? Our unique approach to financing also yields helpful information for technology providers which ultimately help you increase true account ownership.

    4. INCREASE YOUR CLOSE RATIOS

      When you work with a formal financing partner, you can see massive improvements in your close ratios.  What would an increase in your close ratio of 5-10% do to your bottom line?

    5. I DON’T HAVE A BUDGET

      On the chance that your customer just doesn’t have the immediate budget for a purchase of such magnitude, only offering Net 30 terms on big purchases makes you seem like you don’t care about the immediate needs of your customer. When you offer financing terms, you create an opportunity for your customers to acquire the equipment they need at a rate that is reasonable.

 

 

Any way you look at it, partnering with a technology focused financing partner is a huge win. You can save time, make more money, and do more for your customers without worrying about huge cash expenditures.

What are you waiting for? Reach out to us today as see what working with a financing partner can do for you.