GreatAmerica offers its Technology Financing Calculator so you can show customers their payment options.
Now more than ever, your customers want buying options. Some may have the capital to invest in equipment upfront while others are more comfortable with monthly payment options. When given a choice, many end-users are choosing to move in the direction of monthly payments. It’s an alternative that makes technology purchases tolerable and lightens the weight of the purchase. It doesn’t require them to own technology that depreciates over time, and it can connect them to service and maintenance that’s bundled into a single payment so budgeting and financial planning are easier.
To help you present your customers with monthly payment options before their next technology project begins, NSCA Business Accelerator GreatAmerica created an online Technology Financing Calculator.
How to Use the Technology Financing Calculator
This tool makes it simple for you to quickly calculate a quote for a monthly payment so you can confidently present that number to your client and provide them with buying options. Many owners are likely already acquiring other technologies through monthly payments (printing, cloud-based storage services and software, etc.). If they realize that paying monthly is an option for other technology systems, too, they may want to take advantage of it.
The Technology Financing Calculator allows you to create quotes for two types of contracts:
- Finance agreements, which work especially well for commercial integration projects that are primarily composed of labor, software, licensing, and/or maintenance—or whenever the client indicates an interest in owning the equipment.
- FMV (fair market value) leases, which work especially well in situations where owners are more focused on using vs. owning equipment and want to have flexible upgrade options that allow them to seamlessly transition to new technology in the future without a big cash outlay.
To create a monthly payment quote for a project, you need to know the following information:
- Contract type (finance agreement or FMV lease)
- Total project amount (between $3,000 and $250,000)
- Term length (24, 36, 48, or 60 months)
- Total maintenance costs per month
- Points (commission paid to the integrator when hardware is delivered)
After this information is entered into the online calculator, a quote is generated and sent straight to your email box automatically. (The screenshot below provides an example of what you’ll receive.)
Where to Learn More About the Technology Financing Calculator
If you have questions about the quote you receive, how to use the calculator, or next steps on offering monthly payments as a buying option to your customers, reach out to GreatAmerica at nsca@greatamerica.com or 800-446-6722.
