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CIT Shares Insights on Administering Managed Services and Usage-Based Offerings
New White Paper Offers Guidance on Effectively Building “Total Solutions” for Clients
Equipment Manufacturers Increasingly Provide Broader and Deeper Solutions to Grow Their Revenues and Enhance Profit Margins
Complex “Total Solutions” Structures Can Be Daunting to Administer
CIT Provides Insights on Key Requirements of Complex Pricing Structures
Wednesday, April 9, 2014 08:30 AM
We have clients in industries ranging from office and technology equipment to industrial and healthcare products who have developed complex offerings to meet the broader needs of their customers

NEW YORK--(BUSINESS WIRE)--As they work to differentiate their value propositions and enhance their profit margins, equipment manufacturers and their distribution channel partners are increasingly turning to managed services and other complex product structures that combine products and services, according to CIT Group Inc. (NYSE:CIT)cit.com, a leading provider of financing and advisory services to small businesses and middle market companies. The administrative challenges of these complex structures, known as “Total Solutions,” can be daunting for suppliers. As such, CIT has leveraged its deep expertise in lending, leasing and advisory services to produce “Executing a Total Solutions Strategy,” (cit.com/totalsolutions), a white paper that shares insights for companies considering implementing a comprehensive managed services offering.

“We have clients in industries ranging from office and technology equipment to industrial and healthcare products who have developed complex offerings to meet the broader needs of their customers,” said Nick Small, Managing Director,CIT Equipment Finance, US. “For a variety of reasons, these clients often administer these transactions themselves, but their systems and processes typically are unable to meet the intent of the original selling structure without massive manual intervention. This ultimately has a negative impact on their customer experience. However, equipment finance companies are ideally suited to assist companies in providing the required capabilities in product structuring, invoicing and accounts payable and receivable administration.”

Small continued, “FlexAbility from CIT was created to support the nearly limitless types of managed services and total solutions structures that manufacturers and distributors are building and offering today. With FlexAbility, CIT’s clients can be confident in supporting practically any structure they sell, how they charge for it and who they partner with as part of the solution.”

“Executing a Total Solutions Strategy” explores different types of product structures with particular attention to usage-based and variable structures that are often found in these sales. The white paper identifies a number of product and administrative considerations to assist companies in building Total Solutions and provides direction on how to leverage a finance provider’s systems for these important transactions.

Individuals can download a free copy of the white paper at cit.com/totalsolutions or by calling 888-365-FLEX (3539) for additional information.

EDITOR’S NOTE:

View CIT’s corporate overview video (cit.com/corporatevideo) and CIT’s Perspectives (cit.com/perspectives), which showcases our insights and ability to put our knowledge to work for the small business, middle market and transportation sectors. Follow us onTwitterLinkedInYouTube and Facebook or register to receive press releases at cit.com/newsalerts.

About CIT Equipment Finance

CIT Equipment Finance provides leasing and equipment loan solutions to small businesses and middle market companies in a wide range of industries. We provide creative financing solutions to our borrowers and lessees, and assist manufacturers and distributors in growing sales, profitability and customer loyalty by providing customized, value-added finance solutions to their commercial clients. cit.com/equipmentfinance

About CIT

Founded in 1908, CIT (NYSE: CIT) is a financial holding company with approximately $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 lendingfactoringretail and equipment finance, as well as aerospaceequipment and rail leasing. CIT’s U.S. bank subsidiary CIT Bank (Member FDIC), BankOnCIT.com, offers a variety of savings options designed to help customers achieve their financial goals. cit.com

Contact:

CIT MEDIA RELATIONS:
C. Curtis Ritter
Senior Vice President of Corporate Communications
(973) 740-5390
Curt.Ritter@cit.com
or
Matt Klein
Vice President, Media Relations
(973) 597-2020
Matt.Klein@cit.com
or
CIT INVESTOR RELATIONS:
Barbara Callahan
Senior Vice President
(973) 740 -5058
Barbara.Callahan@cit.com