According to the results of Balboa Capital’s 2016 Equipment Vendor Mobile Technology survey, 73% of equipment vendor businesses are utilizing mobile technology.

The survey was sent to more than 36,000 equipment vendors throughout the U.S. in July and provides a view of the mobile business landscape.

“The results of our survey show that mobile technology is being embraced by a significant number of equipment vendors who recognize its many benefits,” said Jake Dacillo, marketing director at Balboa Capital. “Over 7 in 10 equipment vendors are using some form of mobile technology on a day-to-day basis because of the true impact it is making. Respondents to our survey report that it increases productivity, helps facilitate sales transactions quickly, and empowers customer service like never before.”

Other notable findings include:

• Among equipment vendors who utilize mobile technology, 72% said greater accessibility is the biggest benefit, followed by more sales leads (59%), faster sales transactions (59%) and improved customer service (40%).
• Three in four respondents stated that their equipment vendor business uses cloud-based solutions, technologies or Software as a Service (SaaS).
• 100% of equipment vendors who use mobile technologies report that these technologies are integrated with their back-end operations.
• Four in five equipment vendors conduct between half and all of their business tasks through the use of mobile devices.
• 26% of equipment vendors do not use mobile technology as part of their overall operations. When asked why they have not added mobility to their businesses, respondents said the No. 1 reason was perceived difficulty (60%), followed by affordability concerns (40%) and security concerns (30%).

“What customers expect in terms of speed is growing each day, and equipment vendors will need to evolve their business models and make changes accordingly to keep up,” Dacillo said. “Here at Balboa Capital, we help our equipment vendor partners meet the growing needs of their customers with fast, dependable funding. They also have access to Portal360, our comprehensive online sales management system for equipment vendors that is compatible with all mobile devices. It’s the perfect solution for vendors who conduct business on the go.”