What are the key components of the ideal asset and equipment finance partner?
There are 4 key areas that should be evaluated to identify the ideal asset and equipment finance partner when considering your options. They are:
Partnering with an asset and equipment finance partner should be a true co-operative relationship. Your partner should be looking at every opportunity to share with you, data, and information through reporting and timely notifications. This data and information should support you in your customer lifecycle management, aiding you in securing a partnership with your clients and further repeat business. This should provide you and your clients with a truly value-adding experience.
Your asset and equipment finance partner should offer you the opportunity to work with local representatives in the major Australian cities. This would include providing the opportunity for face-to-face training and client visits where necessary.
If you operate in Australia and New Zealand, it is important that your partner also offers funding capability across New Zealand.
To provide your client the most appropriate payment solution, your partner must offer more than just a single or handful of vanilla flavoured finance options. They must offer the ability to tailor terms, payment methods, payment frequency and structures to align with your sales model and your clients cashflow requirements.
Your asset and equipment finance partner should provide you with independence from any manufacturer branded funding. If your asset and equipment partner is utilising a funding source that also indirectly competes with you via a group subsidiary, are you comfortable with your transactions and data being managed by that source? Who owns the transaction and your client’s data?
Finding the ideal asset and equipment finance partner
Asset and equipment finance partners come in all different shapes and sizes. You may find a small local broker that can offer you the flexibility and independence, but can they offer you the transparency and coverage you need?
At the other end of the spectrum are your large banks and financiers. Sure, they may have the coverage, with many offices throughout Australia and/or New Zealand, but system limitations will hinder their ability to offer transparency. Their treasury and credit guidelines may also limit the payment solutions they can offer you and in-turn you can offer your clients.
In between are intermediaries, such as 3E Advantage. We invest in our systems, processes, and people to ensure we provide you with value-adding transparency. Our independence is assured as we are not aligned to any group or parent. With a curated panel of funders, we can offer a range of flexible payment solutions which will no doubt align to yours and your client’s requirements. Lastly, we have fantastic coverage, with representation Australia wide and coverage in New Zealand.