IT Resellers – The benefits of working with Baker Leasing
7Do you offer leasing to your customers? If not why not? There is no downside to leasing! This was a fact already known by one of the software suppliers that we now work in partnership with. However, they didn’t realise just how much this area of their business could develop until they selected Baker Leasing to be their new finance partner; specialists in providing flexible finance solutions to organisations acquiring technology.
The software supplier in this case already offered leasing through another finance company. However, by working in partnership we increased the amount of leasing business they wrote with their customers by 300% in the first year. How did we do it? What is the Baker Leasing secret to success?
The important thing to understand is we worked in partnership with them. At the start of the process we were directed by the goals and targets they wanted to set for their business. From that we put a plan in place as to how best to achieve it. We trained the sales team so that they have a thorough understanding of the benefits to using leasing. They were also put in contact with specific team members in the Baker Leasing office that could answer any questions and provide an efficient service. The Baker Leasing Managing Director then attended one sales meeting a month to answer questions, provide feedback and update the team on the figures.
We set up the ability to provide an indicative finance option on all the quotes that are provided to the customers. By proactively offering leasing as an option to the customers they were empowering them as a buyer. This is now considered a vital part of the sales process. The customer was being given choices rather than feeling pressured into making a purchasing choice that maybe would stretch their budget. Proactively offering a leasing option avoided price objections and allowed them to up sell additional products and services with minimal increases to the customer repayments. As well as adding an indicative finance figure on quotes; we also provided fully branded quotes by email. In this case all the sales people needed to do was email a copy of their quote to us with their customers details. Once this was received we quickly emailed back a quote with a full breakdown of costs, tax savings and potential working capital returns. This then clearly illustrated the financial benefits of leasing.
When a business uses leasing to purchase their assets the payments are 100% tax deductible against their corporation tax. Plus by keeping their cash in the business instead of a large capital outlay they can benefit from a greater return on capital employed. In other words they can use the cash to grow other parts of the business – maybe recruit more staff or increase their marketing budget for example.
The aim of Baker Leasing is to always make the process as smooth and efficient as possible. Once a customer agreed to the finance option we stepped in and dealt directly with the customer to complete all paperwork required. This was done electronically by email, again to speed up the process. As soon as the documents were signed we instructed the accounts department to send us their invoice for quick payment. Invoices were automatically paid within 24 hours removing the risk of bad debt and the need to chase payments.
Leasing improved their customer retention with increased control of renewals and upgrades, allowing them to be ahead of their competitors. Plus offering leasing as an alternative to cash demonstrated that they were considering their customers business needs assisting in developing long-term relationships.
Providing high quality service is at the core of our business and just one of the many reasons why companies choose to work with Baker Leasing for their leasing requirements and partner with us to offer financial solutions to their customers. We pride ourselves in being able to provide instant competitive quotations and the ability to process a deal from start to finish within a matter of hours when required.
In this case the software supplier already used leasing within their business. However, if you have not looked at this option before then now is the ideal time to start. We will be the industry experts that you and your customers can depend on for guidance and support in providing flexible finance solutions to organisations acquiring technology and other business assets.
Business that choose Baker Leasing as their finance partner benefit from:
- Increased sales: proactively offering a leasing option avoids price objections and allows you to up sell additional products and services with minimal increases to the customer repayments.
- Partner Portal: sales people can be allocated individual portal logins allowing them to email branded pdf quotes to customers, submit proposals and track their activity.
- Customer retention: leasing improves customer retention with increased control of renewals and upgrades, allowing you to be ahead of your competitors.
- Increased cash flow: invoices are automatically paid within 24 hours removing the risk of bad debt and the need to chase payments.
- Improved customer service: offering leasing as an alternative to cash demonstrates that you are considering your customers business needs assisting in developing long-term relationships.
So the question remains; do you offer leasing to your customers? If not why not? There is no downside to leasing! Would you like to share in the success experienced by this software supplier? If the answer is yes then you need to contact Baker Leasing who want nothing more than to help you grow your business, smash your sales figures and celebrate a fantastic working partnership. Arrange a meeting today with our Managing Director where he will gladly demonstrate how we can work in partnership to drive your business forward.