Offer your Customer a flexible payment plan
- Date: 30 March, 2020
We are obviously in unprecedented times and the situation with the Coronavirus has meant we have all had to adapt in recent weeks. As an IT supplier, you may be having one of your busiest periods supporting SME's with their software and hardware requirements.
Monthly Payment Option
- Convert an initial and/or annually in advance SaaS deal into a monthly payment facility.
- An alternative to a large upfront capital investment, this could help your customer still complete an essential project but ensure the burden on cash flow is kept to a minimum.
- Annual Software / Subscription renewals to ensure your customer has access to your latest software.
3-month Payment Holiday
- In addition to a traditional finance option, we may be able to introduce a 3-month payment holiday, whereby you still get paid in advance but the customer will not have to start paying for an agreement for the first 3 months.
Interest-Free or Subsidised Funding
- As with all finance options, there is an interest cost to the customer but as the software provider, you could choose to introduce a blind discount.
- A blind discount can be used to structure a finance deal in such a way that we can present the customer with either interest-free or subsidised interest rate finance option.
- Including a blind discount will mean that you have to contribute some of your margin to make the deal work but presenting your customer with either option, that could also include a payment holiday, may help close a deal that would otherwise be postponed or lost.
Finance has always played an important role in business but during this difficult period, we are seeing more and more customers turning to finance as a possible solution to help them navigate the challenging months ahead.
Although the industry sector and how well a business is currently positioned will be a deciding factor as to whether we can help, we are more than happy to review any potential opportunities and will do all we can to continue to support Vendors and resellers.