If you’re an equipment manufacturer, dealer, distributor, or software developer, one of your main goals is to increase sales. Wouldn’t it be great to do this while also improving customer retention and enhancing your competitive position in the market?
Offering customers and prospects financing for purchases at competitive rates can help you achieve many of your most important business goals.
Growing Your Business with Vendor Finance
Establishing a well-structured vendor finance program with a strong, experienced banking team can help make financing a fundamental part of your sales strategy. Financing is a powerful sales tool that, when used correctly, can take your business to the next level.
Using financing as a core sales strategy can help you sell more of your product and keep your customers longer. You can close deals faster, include more products and accessories in the sale, and get paid faster.
Vendor finance programs can help build sales, accelerate payments, maintain margins, and increase market share.
Vendor finance programs also deliver significant benefits to your customers. They can get financing more quickly and easily upgrade equipment — all while keeping costs within their budget. They may also be able to take advantage of tax benefits.
Vendor finance products are exceptionally flexible. They can be structured to match anticipated business growth or seasonal cash flow and can have terms that match the useful life of the equipment.
Tracking Results
Once you initiate a vendor finance program, how will you know if it is providing a competitive edge? The right financial partner can provide detailed information to help you analyze and manage your sales more effectively.
Online application entry with automated credit decisioning and real-time status, along with reporting dashboards for transaction management, provide insight into program performance.
Even companies that have enough cash to finance sales themselves often find they would prefer to focus on their core competencies and leave credit analysis and collections to the experts.
Ready to Help
Rather than letting your customers and prospects fend for themselves in financing their purchases, consider leveraging a vendor finance program to increase sales and reinforce profitable relationships. For more information, visit pnc.com/vendorfinance.
