Lenovo Financial Services has launched enhanced financing facilities to technology dealers in the UK and France, enabling them to secure additional sales and increase margins by helping customers to overcome cash constraints and rising inflation. Lenovo and CIT Group established the Lenovo Financial Services programme to provide a range of financing solutions for Lenovo’s business partners and customers.
According to recent research, 50% of companies said that they planned to lease more frequently this year, with 70% saying that availability of leasing is critical in vendor selection. In light of this demand, Lenovo Financial Services has introduced an improved and comprehensive proposition, which enhances the ability of dealers to meet the needs of their customers more easily and cost-effectively.
Jon Singleton, European programme director at Lenovo Financial Services, said: “In an uncertain economy, customers require finance options which allow them to conserve capital while acquiring the technology they need to remain competitive. Given budget constraints and rising inflation, successful dealers will be those who can deliver top-of-the range technology solutions whilst helping customers to spread the costs.”
Recent market assessment by INVIGORS estimates that IT leasing volumes in the UK will be worth US$2594m by 2012, an increase of 21.6% from 2010.
Singleton continued: “While financing solutions can be an effective way of helping IT procurement departments through a period of financial or economic uncertainty, they are not just for the down times. Financing rather than purchasing enables customers to cost-effectively update their technology as their business needs change. In addition, the ongoing financing relationship helps dealers to build a long-term customer footprint for repeat business and at the same time helps customers manage and reduce the total cost of ownership of their IT equipment.”
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