The indeterminate period of national lockdown has not put paid to leasing availability in the channel, as uptake of online leasing, driven by resellers able to sell remotely, can still be leveraged, confirmed Shire Leasing CEO Mark Picken.
Comms resellers have long used leasing to help expand their sales and guarantee cashflow, but an essential component of doing business this way are end user organisations investing in ICT technology. “For many finance companies it’s business as usual,” said Picken. “All finance companies want to continue to offer their services, but if a business isn’t open it’s hard to see how any lending can be done safely. A key question is how many suppliers will survive? And when will installations be made in a timely fashion again?”
According to Picken the finance sector has been rocked by an unprecedented level of uncertainty. “One aspect of this crisis is that the finance companies can’t control it and they don’t know how long it will last,” he said. “The strength and continuity of businesses over the coming months is a challenge that both resellers and finance companies face.”
Finance firms must accommodate the shift to home working and facilitate vendor finance solutions remotely, urged Dan MacKrell (pictured), National Account Manager, Shire Leasing. “Demand has risen from those businesses that can continue to work remotely and Shire is still willing to financially support them with funding solutions,” he stated.
“The national shutdown will obviously impact new business opportunities, particularly when people need to meet to make deals happen. Yet, we are fortunate to support an industry channel that enables organisations to trade by making use of technology, while adhering to social distancing. Electronic signatory means there is no need to visit the customer or rely on the postal system to complete the transaction.
“If there is an opportunity to sign customers up with a view to arrange the installation once we return to some degree of normality, there is a solution for the channel. These are challenging times but the channel and finance companies have the products and industry knowledge to make the best of a difficult economic landscape.”