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Making payments easy: Why financing is a must for your business

July 19, 2021

Making payments easy: Why financing is a must for your business
 
powered by Sounder


As a result of COVID-19, a lot of us have done far more online shopping than we care to admit.
 
But if one thing has become obvious, it’s that payments are becoming the norm. You can’t buy anything online now without being presented the option to pay in full or pay over six months, often interest free.
 
With big companies like Apple, Target and more offering payments, it makes sense that other companies would follow suit. Ingram Micro has long been blazing the trail in making financing available and convenient for our customers.
 
On this episode, listen to Lori Berry, Director of Strategic Technology, and Melanie Delvalle, Director of Customer Finance, talk about:
 
  • How offering financing gets a customer to YES
  • The different types of technology that partners are using to run their businesses, and how financing plays into that
  • Why financing has to be EASY
  • What’s next on the financing roadmap
 


Getting customers to YES

At the end of the day, if financing was an extra step to take or an extra hoop to jump through, we knew that a lot of customers simply wouldn’t take advantage of it. And if they didn't take advantage, there was a higher likelihood they’d end up walking away from a deal because they weren’t sure if they could get the financing.
 
We just didn’t want that.
 
So we built a solution not just based around what WE thought was important. We went out and listened to our customers to understand what THEY thought were the most important things. If we built a program around helping them address their pain points, it would be a win-win for everyone involved.
 


Tackling the biggest obstacles

We knew we had to make financing easy to make it more of a habit.
 
So, we made it simple to put a payment option on every quote or proposal that went out the door to our customers.

We aimed to take the technology obstacle away, because at the end of the day the biggest obstacle isn’t technology—it’s mindset. We wanted to change the way people thought about financing and payments.
 


What’s next?

Not only are the tools changing, but how a customer presents solutions is changing as technology becomes more complex.
 
The way the channel is changing, it’s more about focusing on solving business outcomes, not focusing on a specific SKU or widget or thing.
 
Payments are a natural part of the overall conversation. As more of the world moves to monthly subscriptions and payments, it just makes sense for the rest of businesses to do the same.
 
To put it simply: You can never lose when you give your customer an option for payments.
 
Find out more at financialsolutions@ingrammicro.com.