As an equipment vendor, providing your customers with what they need is important – like accessibility and financing options. In many cases, equipment vendors need a partner to help provide these. But how can you ensure your partnering with the right financing company for your business, and for your many customers? Here are a few tips on what to consider when weighing your options.

History and Experience

Selecting a financing company that works in the equipment vendor space, and that has experience in your particular industry, is a great place to start. Many financial companies have programs specifically designed for vendors. Plus, they may have a variety of tools and technologies that can help you close more deals and provide better customer service. Take a look at previous customer reviews completed by equipment vendors to check out what other customers have to say about working with that financial partner.

Rapid Processing

Your customers don’t want to wait for a credit decision after they submit their finance applications. To combat this, many lenders can provide web-based applications and back-end platforms that assist with the custom-tailored scoring technology you and your customer need. Manual paperwork is reduced and any credit-related issues can be identified and rectified sooner, increasing the chances of your customers obtaining necessary financing.

Next-Level Sales Management

Having to maintain inventory, work with customers and manage your sales team keeps you busy enough. The last thing you want to do is spend time trying to keep track of your equipment sales. To avoid this, work with your IT manager or website developer to find out which sales management software is best for your company’s specific needs. Another option is to partner with a finance company that provides a sales management software for their customers. Sales management capabilities include real-time transaction reports and sales reports, year-to-year comparisons, e-Signature integration, private label program compatibility, instant finance quote tools, and online finance applications. With this software in hand, you’ll be running your business smoother than ever before.