Technology Reseller v43

technologyreseller.co.uk 31 MSP Find out how we can help www.siemens.co.uk/technology-finance Once that’s done, financing becomes a seamlessly integrated part of the sales process. No re-entering of information – just simple and easy. And with all the competitive heat that’s out there in the market at the moment, everyone on the market wants to offer a quick and seamless service to customers and prospects to get there first and close the deal. The API in practice One of our Reseller partners needed a funder who could support them on their digital journey. With customers’ needs rapidly changing, having a funding partner with the ability to offer a streamlined process incorporating automated decisions, digital documents and same day pay out was a necessity. The API connection allows this Reseller to plug their customer/ prospect system into ours, removing the need for ‘dual keying’ into two separate systems. The information transfers into the Siemens Financial Services (SFS) auto-decision tool at the touch of a button, and the Reseller benefits from an instant decision to their vendors, creating a seamless process. Removing any delays experienced with traditional underwriting offers the ability to drive additional new business by: • Streamlining proposal creation and having access to instant decisioning and generation of E-signature documents • Enhancing productivity as only one set of data is needed to be input into the Partner Portal system • Managing deals in real-time using a single platform Of course, the API is just one aspect of digital finance, and there are many further benefits that come with the territory. In our own case, we have been able to deliver service continuity for credit decisions, transaction processing and payments right through the pandemic period, all because they can be done digitally and remotely. Our digital tools offer 24 hour access, automated credit decisions, e-signature capabilities, everything needed to keep business going and beat the threat of disruption. The e-signature document flow means contracts can be digitally signed instantly and from any location, rather than booking appointments or sending via post – all of which can take days or weeks. Digital credit capabilities mean that the Reseller’s salesforce has access to these tools wherever they are – a digital window on their portfolio, which means they can spot any business opportunities that are available. The business outcome of speedier, easier finance processing is fundamentally important to a business, reducing the cost of sale in terms of time, efficiency and resource. Plus, there’s a valuable improvement in cash flow that financing offers over cash sales. There are no trade credit payment terms with finance. As soon as the equipment is with the customer and the completed and correct documents are with us, then payment is within 24 hours – again, all managed online. Digital finance makes the difference One of our Reseller partners recently told us that finance had helped them move from a 25% conversion rate on cash sale proposals, to a 90% conversion rate on finance proposals. The result is that they now only offer their solutions on a finance basis. In summary, a capable financing partner should be offering all these digital capabilities to help you close more sales, faster. We’re not out of the woods yet, economically, and every means available to help customers invest in the tech solutions they need, has to be grasped to keep the sales momentum going. Digital platforms are rapidly becoming the norm, and if you can then integrate financing options right into the heart of your own systems using a powerful API, you’ll see the difference straight away. 1 https://www.cwjobs.co.uk/recruiter-advice/uk-tech-hubs-to-thrive-in-2021 2 https://www.mckinsey.com/~/media/McKinsey/Business%20Functions/ Marketing%20and%20Sales/Our%20Insights/The%20B2B%20digital%20 inflection%20point/The-B2B-digital-inflection-point-How-sales-have-changed- during-COVID-19.pdf 3 https://technation.io/news/highlights-tech-nation-report-2021/ 4 https://www.prospects.ac.uk/jobs-and-work-experience/job-sectors/information- technology/overview-of-the-uks-it-industry 5 https://www.experian.co.uk/blogs/latest-thinking/small-business/small-business- trends-for-2021/ 6 https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/ businessinvestment/januarytomarch2021provisionalresults