The big U.S. pro AV IT integrator Diversified has announced a formalized in-house financing program that can roll up hardware and services costs into a single monthly invoice. Called Diversified Global Payment Solution, the program is built around providing "extensive equipment and technology financing options to enable client growth and innovation."
"Keeping up with the speed of technology transformation can be exhausting and expensive for large and small organizations, alike," says Michael Strand, Chief Revenue Officer, Diversified. "With Diversified Global Payment Solutions, our clients can leverage financing options to procure technology when and where they need it, without breaking the bank.”
I don't know for sure, but suspect solutions like equipment leasing was already possible directly or through partners, but this would give it structure and processes. There have been third-party financing companies doing leases for hardware for many years, but I have no idea if these companies have been doing a roaring trade, or they've been little used because they are one or several degrees removed from the core technology suppliers. I know a Toronto company, Alliance Financing, that's been a leasing option for hardware and solutions companies for at least a decade. There are undoubtedly others.
One of the interesting aspects of Diversified's new program is the proposition of building hardware refreshes into a calendar and financial schedule. The landing page for the program says its Refresh/Asset Management program allows customers to choose the hardware, software and services needed for a project, but do a lease instead of purchasing. "And, rather than allowing the solution to become outdated and obsolete as technology evolves, Refresh provides flexibility and adaptability by letting you choose replacement intervals that work for your business. If your hardware remains acceptable at the end of the term, you also have the freedom to renew without disruption until you’re ready to upgrade."
Says Diversified in announcing the program:
Given the rate of technology changes, today’s organizations would much rather invest capital in revenue-generating projects as opposed to depreciating assets that will eventually outlast their useful lives. Diversified Global Payment Solutions puts customers in the technology driver’s seat—bundling all costs into predictable “as a Service” periodic payments, simplifying procurement processes and improving asset management through structured refresh cycles.
With an extensive portfolio of financing options customized to fit each client’s unique needs, Diversified Global Payment Solutions transform how organizations procure and deploy technology while reducing costs and mitigating additional risks.
“Diversified Global Payment Solutions brings the best of both worlds to our clients—access to the latest technology solutions they need with the added financial flexibility they want,” Doug Sobieski, Director of Business Value and Customer Finance for Diversified. "Backed by Diversified’s managed services, the ability to easily adapt and scale technology solutions has never been simpler or more cost effective.”
To start taking advantage of these value-driven financing solutions and gain a competitive edge, visit onediversified.com/global-payment-solutions.