Updated 4/27/2023. Originally published 3/9/2020. Solution providers who are new to extending a financing option to their customers often ask us questions like “how do I offer financing to my customers” and “what does the financing process entail”? Today’s buyer is more thoughtful than ever when it comes to how they will pay for the solution you provide to them. In fact, now more than ever, customers expect a monthly payment option when it comes to acquiring the technology needed to run a modern, efficient business. Our financing programs can accommodate this preference while also setting them up favorably to upgrade their solutions as technology advances – all without having to battle the budgetary constraints of a cash purchase. So once your customer is ready to finance the solution, what can they expect? Read on!
Updated 3/16/23. Originally published 10/23/20. You probably know that companies, both large and small, finance and lease their equipment. This article can serve as a refresher for your team members, or as part of training your new hires. Business equipment leasing is a valuable tool that can be leveraged to gain more business, but it also serves as a flexible means for your customers to acquire the equipment and solutions their businesses depend on. Financing can get your customers the equipment they need while making for a smoother sales process. But first, let’s discuss how it works exactly. (Watch this short Lease Financing Benefits video below!)
Over the past 20-25 years, technology has gone from helpful to critical. Technology is saving money, saving lives, and has become such an essential element of our day-to-day, we can hardly imagine a world without it.
Updated 3/1/23. Originally published 11/23/20. For any company to be valuable, even sellable one day, there is a lot more to consider than just the bottom line. You need to be asking yourself questions like: Can we continue to grow in the future while maintaining margins? Am I too dependent on a key employee or key customer? Will our competition change? Are my future revenues secure? Whether you intend to continue growing your business, sell it, or pass it on to others, it is important to continually strive to increase your enterprise value. Of course, when determining the value of a company there are several considerations, such as the diversity of your products and services, margins of each, and pricing from your suppliers. But beyond those important considerations, another effective way you can grow your enterprise value is by adopting a bundled strategy.
Updated 1/25/2023. Originally Published 5/26/2022. You’ve done all the hard work. You’ve educated your prospective customer on the benefits of new technology, provided examples of your service levels, and flawlessly explained how financing helps protect their cash flow. They like the idea of financing their technology and are excited to move forward. At this point, it’s crucial your financing partner can move quickly through the credit and funding process so your customer receives their new solutions without delay, ensuring your relationship with them starts out on a positive note.
Updated 1/4/23. Originally published 4/6/21 Finding the right person to join your team can be a challenge. Surprisingly, the real battle may be retaining that talent once you find it. Add a global pandemic, inventory shortages, and soaring gas prices into the mix, and things get even more complicated. Some employees are leaving their organizations and seeking jobs that are either remote or closer to home to cut back on gas spending. Commission-based roles are driven to leave organizations struggling with inventory shortages for those that have closer ties to manufacturers, and therefore have equipment to sell. Additionally, more employees are working from home and that means there is less personal interaction with coworkers, managers, and company leadership. All these scenarios and more are creating challenges when it comes to retaining top talent.
Updated 12/21/2022. Originally published 1/16/2020. Have you heard the phrase: "Nobody likes surprises?"
Updated 12/15/2022. Originally published 2/25/2021. What is Hardware as a Service (HaaS)? Hardware as a Service – or HaaS – is a proven business model for MSPs and Technology Solution Providers and an important piece to a complete As-A-Service model. It is a simple concept. You sell a total solution to your customer. They get the hardware, software, installation, training, consulting and, of course, it all comes fully managed in a single monthly payment. Many times, Managed Service Providers buy and own the hardware, and rent it to the client along with their Service Level Agreement (SLA), which the MSP bills and collects monthly. This model gives Solution Providers the ability to increase margins on hardware and service, standardize their customer base, and improve recurring revenue. HaaS also has the unique ability to cripple the cash flow of a Managed Service Provider if not well-managed.
Monthly payment options are continuing to become utilized by all our favorite companies like Amazon, Apple, Microsoft, and so should you! This blog is a re-cap of a webinar led by Taylor McDonough, Vendor Relationship Manager with Connected Technologies Group at GreatAmerica Financial Services. If you missed the webinar, we have you covered:
