At TEQlease, one of our divisions focuses on technology financing. In one recent transaction, it was the
financing that helped address the final objections and close the deal.
The transaction in question was for approximately $84,000. It involved some technology equipment for a local school district. We had a previous relationship with the school district and were brought in by the equipment vendor who was also a partner of ours. It was a very competitive situation and our vendor partner had already gone through several rounds of tough negotiations with the school’s budget office.
What finally won the deal for this vendor? Once we understood the specific budgetary considerations, we were able to put together a financing option that allowed the school district to meet two critical needs:
- First, they were able to spread this technology investment over multiple budget years, and
- Second, because were able to structure something called a true lease (or operating lease), they were able to pay for the equipment out of their operating budget instead of their capital budget.
The vendor’s competition never had a chance.
What were the keys to success? First, the vendor didn’t wait to be asked about financing. They engaged TEQlease early in the sales cycle so we were in a position to help them use financing as a sales tool. Second, they not only did they understand the prospect’s technology needs but they knew and understood how the prospect wanted to budget for this. Knowing the prospect’s buying process, including how they do their budgets, made all the difference.
For more information about how to use financing as a sales tool that can drive more business, call TEQlease today. Ask for our Vendor Specialist for a free consultation on how to increase your sales using lease financing.