There is a movement for smaller businesses to finance technology that is greater than anything we’ve encountered in years. Recent insights from a survey conducted by Secured Research shed light on this trend and it’s impact on vendors, finding:
- 57% of companies opt for financing when acquiring technology.
- Vendors and resellers emphasizing payment options experience significantly shorter sales cycles (88 days without financing compared to 53 days with financing).
- Since March 2023, there has been a 59% surge in companies expressing ‘high interest’ in financing their upcoming technology purchases.
- Notably, several industries, including healthcare/medical, retail, food and beverage, transportation/logistics, and information technology services, have experienced a technology investment uptick of more than 40% since March 2023.
- Investment in remote work technologies has skyrocketed by 1,422% compared to 2019 levels.
- Vendors and resellers prioritizing payment options are 3.4 times more likely to incorporate higher-margin services.
Leverage these findings to enhance your sales strategies and provide valuable insights to technology vendors. By leading with payment options, vendors can expect to boost sales velocity, increase profitability through higher-margin managed services, and better cater to the diverse needs of their customers.
