Does your organisation sell to other organisations? Do you ask them to pay you upfront? If so, you could be losing out on revenue.
Giving customers the option to spread the cost of their purchase or project over time can be a powerful and persuasive sales tool. By financing, your customers can keep working capital in the bank, manage their cashflow more effectively, increase their spend and, in many cases, benefit from tax savings.
While all this is great news for your customers, offering finance has some big benefits for your organisation too.
Asset Finance
Cashflow Loans
Invoice Finance
Vehicle Finance
Property Finance
Growth Guarantee Scheme
Revolving Credit Facilities
Giving your customer an alternative to paying in full is an effective way to overcome short-term budget limitations, boosting your conversion rate and sifting out prospects that are not ready to buy.
When customers need to pay in a lump sum their spend may be limited by budget constraints; being able to spread the payments over time can increase how much they can spend with you by as much as 30%.
Offering finance can escalate your interaction with the customer to a new level as you will usually liaise with the person/people responsible for signing the project off, strengthening your understanding of the customer and their future requirements.
As long as your service is good and you contact customers as they approach the expiry of their agreement, there is a much stronger chance that they will choose to stay with you and renew the lease than if they paid cash as a one-off transaction.
You will typically receive full payment within 72 hours of agreements being approved which is great news for your cash flow.
Using finance as a tool to move away from one-off transactions enables you to discuss your customers' longer-term plans for investment.
Our online portal provides access to quick finance quotes and enables you to submit your customers' applications with ease, tracking their progress from start to finish via your dashboard.
Budget holders can invest in what they need without being compromised by limitations on available capital.
Through fixed, regular payments, regardless of any changes to interest rates, your customers can manage cashflow and their budget more easily.
Many private organisations stand to benefit from significant tax benefits as finance payments can be 100% tax deductible unlike typically using cash. In many cases the cost of the VAT can be paid in instalments rather than as a lump sum up-front (excluding Hire/Lease Purchase agreements).
New assets can often lead to increased revenue. Rather than paying for assets upfront, the customer can spread costs over time with the return on their investment.
Don’t sink valuable cash into depreciating assets, use it elsewhere for higher returns. They can also refresh assets strategically (upgrading more often) rather than face large, unbudgeted write offs or continue with obsolete equipment.
Clients reduce dependency on their primary funder(s) and their existing credit lines remain unaffected.
Customers can build all costs into the agreement (not just the assets) to maximise their benefits even further.
We pride ourselves on being specialists in the industry and with over 25 years of experience behind us, you can rest easy knowing you're in good hands.
We take a consultative approach to our relationships and making sure you have all the information you need, whether utilising finance is the right solution for you right now or not, is important to us.
We know finance can be complex and often it's easier to talk things through. Drop us a message or give us a call 0330 135 8660 and we'll get back to you ASAP.
Our team are here for you, let us show you what we can do!
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