In this changing marketplace we find many of our clients are providing services and solutions to their customers that sometimes go unbilled due to a lack of capability.
NEW YORK--(BUSINESS WIRE)--The preservation of capital that can be used to invest in other business activities is one of the top benefits of equipment leasing for small and middle market businesses, according to Nick Small, Managing Director of CIT Vendor Finance, U.S., part of CIT Group Inc. (NYSE:CIT) cit.com, a leading provider of financing and advisory services to small businesses and middle market companies. These views and others are presented in “U.S. Equipment Leasing Outlook” (www.cit.com/small), the latest in a series of in-depth executive video Q&As featured in the award-winning CIT Executive Insights video series (cit.com/executiveinsights).
Benefits of Equipment Leasing
Small adds that leasing equipment can provide “predictable payment streams and protection against technological obsolescence, if a customer’s needs change over the life of the equipment term.”
According to Small, some of the changing trends in equipment leasing include vendors in need of more complex selling strategies with usage based pricing structures, managed services and a demand for total solutions by end-user customers. “In this changing marketplace we find many of our clients are providing services and solutions to their customers that sometimes go unbilled due to a lack of capability.”
Bridging the Gap
CIT is addressing these needs through its innovative FlexAbilityTM suite of products. “We’re bridging the gap between what our clients are trying to sell and what the end-user customer is looking for in terms of a total solution. In a competitive environment, many companies are looking for ways to decommoditize their offering.”
Small states, “FlexAbility creates the ability for our clients to differentiate their product in the marketplace by customizing their sales structures. The product allows them to maximize their revenues and improve the underlying customer experience, which leads to enhanced sales and increased customer satisfaction.”
The versatility of FlexAbilityTM makes it relevant across different industry segments.
“What this does is bring an enhanced value to the underlying customer who can get unique transaction structures and still have them administered in an easy to understand fashion,” said Small. “It’s designed to bring new customer opportunities to our clients, increase their sales and introduce to them additional revenue and profit opportunities.”
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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
Founded in 1908, CIT (NYSE:CIT) is a financial holding company with more than $35 billion in financing and leasing assets. It provides financing, leasing and advisory services to its clients and their customers across more than 30 industries. CIT maintains leadership positions in middle market lending, factoring, retail finance, aerospace, equipmentand rail leasing, and vendor finance. CIT operates CIT Bank (Member FDIC), its primary bank subsidiary, which, through its Internet bank BankOnCIT.com, offers a suite of savings options designed to help customers achieve a range of financial goals. cit.com