As technology vendors grapple with a period of extraordinary turbulence in today’s marketplace, we are hearing that having the right financing options available can make the difference between sales closing or not.
Having those financing options easily available is all about finding the right financing partner, who will stick with a vendor business through thick and thin.
To help vendors decide whether they have the right financing support, we’ve published a short report on what the ideal partner should offer, based on empirical data from our 300+ vendor partners.
One of the top qualities they look for is a partner who can deliver digital decisions – especially important to business continuity in these days of social distancing and remote working.
The financing partner’s digital platform needs to be easy to work with and deliver rapid financing decisions. As our vendor partners have said, “When using the online portal, credit decisions are made quickly… and it’s also easy to navigate.” Others note, “The process is straightforward and simple”, “The acceptance rate is high”, and “it’s easy to do business with.”
Take the MySFS App from Siemens Financial Services - a smart, innovative point-of-sale tool for vendors. The app helps salespeople to close deals faster – often through their mobile phone – and receive seamless, on-the-go credit decisions without fuss. With four easy steps, it takes just a few minutes to generate a credit proposal through to sending key documents to the customer for an E-signature.
The best financing service cannot be completely automated, though. “Many [financing] companies like to automate everything… but some of deals need to be talked about in order to provide a bespoke solution.” So access to helpful financing people is critical – “An answer to a problem is only a phone call away.” Attitude is also critical: “Our contacts will go the extra mile to help us.”
Why not get your own copy of the report here and see whether your financing partner network is fit for purpose.
David McCoubrie - Head of Technology Finance
David has been part of the Siemens Financial Services family since 2019 and today leads the SFS team in the growing tech business. With over 20 years of experience in the vendor finance channel, David is sure to know the ideal finance offering for your Tech customers.
When he’s not finding the perfect solution to suit your business, David can be found on the side of a swimming pool – as he is a Head Coach at a Swimming Club near Bristol. He’s trained swimmers up to National and International level.