6 tips for determining if your finance partner is right for you
Last week I shared a recent contribution to imageSource mag – A Managed Service Solution: Use ‘the finance’ to Get Started. Below, I’ve shared one of the key aspects from that piece to focus on if you’re looking to develop your Managed Services offer further: Take a look at your finance partner.
My message to anyone looking to develop into a Managed Services type solution is a simple one. Take a fresh look at your finance partner, and maybe use the following as a basis for determining whether they are right for you.
If you do look elsewhere, then here are 6 tips when doing so:
- Do not accept the limitations that your finance partner will want to shackle you with. Do it the way your customer wants you to – not how your finance partner has always told you it has to be done. That won’t work anymore!
- Start by using a Managed Service Solution agreement now, which can cater to the needs of you and your customer as the relationship deepens.
- Make sure your finance partner can show you what they have done, as the difference between ‘doing’ and ‘done’ could cost you your three biggest accounts.
- Don’t crucify this new finance partner about ‘rate.’ Too often in Australia, good technology dealerships ‘cross the street’ because of a cheaper rate, only to find disappointment later on, and of course, a poor experience for the customer. So don’t let ‘what’s your rate’ be your master. Expect them to be competitive by all means, but not the cheapest because the cheapest is not going to be the one that helps you when you need it most.
- Make sure that the new finance option can live up to expectations when financing your legacy business as you do not want to put it at risk in the quest for the solutions discussed here. The right finance partner will be able to do both as they will be committed to you and your industry.
- Finally, it’s not how big you are anymore that counts; as today it is – how fast – and so you might find that the best option might be a little less well-known than the big names.
Remember – it is all about the experience of your customer, be they large or small – and your finance offer to them – which will be the enabler of that relationship. Why not get it out into the marketplace now with a Managed Service Solution today.
Managing Director, S.E. Rentals
S.E. Rentals are the finance as a service specialists that will help you grow your business by providing finance solutions in an 'all things technology' future. We provide you with the flexibility, scalability and agility to help you achieve your Managed Service objectives, and our unique in-house software platform, Finance Oxygen, automates the process for you