You are using an outdated browser. Please upgrade your browser to use this site.

CIT Launches FlexAbility™ – Innovative Suite of Products that Address Changing Go-to-Market Strategies
Represents Latest Product Offering From CIT Vendor Finance Designed to Help Small and Middle Market Companies Meet the Needs of Customers
Tuesday, October 15, 2013 08:30 AM
FlexAbilityTM is an innovative, industry first, suite of products that can transform the traditional relationship CIT has with our customers

CIT Vendor Finance, a leading provider of business solutions to small and middle market companies acquiring equipment and value-added services, today launched FlexAbilityTM, a new suite of products that address the financial, operational and go-to-market challenges facing small and middle market companies that offer complex sales and pricing structures (e.g. managed services, bundled or usage-based solutions) to their customers.

“FlexAbilityTM is an innovative, industry first, suite of products that can transform the traditional relationship CIT has with our customers,” said Ron Arrington, Global President, CIT Vendor Finance.  “FlexAbilityTM removes the burden of high operational expenses and error-prone manual processes for small and middle market companies selling complex solutions by providing them with a reliable, systemic solution. Unlike other vendor finance firms, our FlexAbilityTM suite of products allows companies virtually unlimited flexibility in structuring what they sell, how they charge for it and who they partner with-- uniquely tailored to  each of their customers.”

FlexAbilityTM has a core suite of products, including: FlexSellTM and FlexInvoiceTM that provide the financial offering structure and administrative/cash management support to meet most any go-to-market strategy. 

Nick Small, Managing Director of CIT Vendor Finance, US, said, “Companies are seeking ways to de-commoditize their offerings, build competitive differentiation and improve their value to clients. This can lead to more complex sales and pricing structures. These products provide unparalleled flexibility and the infrastructure to support the market shift to selling customized total solutions.”

FlexAbilityTM allows manufacturers, software and service companies, distributors, and dealers/resellers in the technology, office equipment, healthcare, and industrial markets to fulfill the essential needs of their customers through this innovative offering. FlexAbilityTM provides  a non-manual approach to accurately identifying accounts receivables, creating transparent invoices tailored to customer requirements, and applying payments to all parties involved in the transaction; and does this consistently for any billing cycle over the life of the transaction. In utilizing FlexAbilityTMcompanies could increase revenues and profitability by growing sales with existing customers, attracting new customers, enhancing retention and providing opportunities to increase margins.

Visit cit.com/flexability to view a short tutorial video on FlexAbilityTM and download related the product factsheets.

EDITOR’S NOTE: 
View CIT’s corporate overview video (cit.com/corporatevideo) that showcases our support of the small business, middle market and transportation sectors.

Follow us on Twitter: @citgroup, on LinkedIn: LinkedIn.com/company/cit, on YouTube: YouTube.com/citgroupvideo, and on Facebook: facebook.com/citgroup. Individuals interested in receiving corporate news releases can register atcit.com/newsalerts or subscribe to the RSS feed at cit.com/rss.

About CIT Vendor Finance
CIT Vendor Finance creates tailored equipment financing and leasing programs for manufacturers, distributors and product resellers across industries that are designed to help them increase sales. It is a leader in developing business solutions for small businesses and middle market companies for the acquisition of equipment and value-added services. Through these programs, it provides equipment financing and value-added services, from invoicing to asset disposition, to meet its customers’ needs. cit.com/vendorfinance 

About CIT 
Founded in 1908, CIT (NYSE: CIT) is a bank holding company with more than $35 billion in financing and leasing assets. It provides financing and leasing capital and advisory services to its clients and their customers across more than 30 industries. CIT maintains leadership positions in small business and middle market lendingfactoringretail finance,aerospaceequipment and rail leasing, and vendor finance. CIT operates CIT Bank (Member FDIC), its primary bank subsidiary, which, through its online bank BankOnCIT.com, offers a suite of savings options designed to help customers achieve a range of financial goals. cit.com

###

CIT MEDIA RELATIONS:
C. Curtis Ritter
Director of Corporate Communications
(973) 740-5390
Curt.Ritter@cit.com

Matt Klein
Vice President, Media Relations
(973) 597-2020
Matt.Klein@cit.com

CIT INVESTOR RELATIONS:
Ken Brause
Executive Vice President
(212) 771-9650
Ken.Brause@cit.com