Manufacturers, resellers, distributors and service providers planning to create agreements that bundle equipment, financing, software and services need a way to identify and avoid costly gaps in the process.
According to Diane Croessmann, a director with The Alta Group, as the prevalence of the managed services trend expands, there is a real need for financial service providers to evaluate their readiness. To that end, Alta has created a survey to assess how prepared financial service providers are to offer managed services.
The survey is designed for the equipment leasing industry, manufacturers and associated resellers, distributors and service providers. Survey participants will receive a blind copy of summarized findings to enable comparison with other respondents.
According to Alta, managed services are being developed in response to the changing marketplace. End users are demanding the ease of dealing with fewer providers and paying for services as they are needed. Equipment ownership is also not as valued as in the past.
Croessmann noted that the managed services trend is taking hold faster in some markets such as energy, technology and healthcare than in others.
Offering transactions that bundle equipment, software, services and financing into one solution has an effect on nearly all business functions of equipment leasing and finance, from initial market analysis and risk management through funding, delivery platforms and asset management.
Croessmann added that companies that identify basic weaknesses in their readiness for managed services should consider a secondary phase of assessment that involves closing any gaps, such as in funding, and take a longer view of customer needs and the organizational or system changes necessary. Alta provides customized level two assessments tailored to an organization’s unique requirements and balance sheet.
In certain circumstances, a lender providing equipment financing may be unable or unwilling to obtain or rely on the super-priority lien afforded to a purchase money security interest under §9-324 of the Uniform Commercial Code. In these circumstances, the lender... read more
In 1997, Daniel Dyer helped start an equipment leasing company called Marlin Business Services. Roughly 20 years later, the former co-founder, chairman and CEO of Marlin is back in startup mode, teaming with former Marlin colleague George Pelose to form... read more