![\"\"](\"http:\/\/www.enxmag.com\/twii\/wp-content\/uploads\/2013\/02\/dollar-sign-300x213.jpg\")
As manufacturers add to their own service and product offerings, those that have captive financing arms are providing leasing options to support them and better enable dealers to make sales. Canon Financial Services, for example, supports Canon and Oc\u00e9 product lines, which include production and office imaging technology. It also supports Canon\u2019s managed print services, both with its direct division as well as those dealers that have developed this offering.<\/p>\n
\u201cCanon\u2019s understanding of this market allows CFS to review the credit in a more holistic approach and allow for higher soft costs,\u201d said Dominic Janney, vice president of sales and service for CFS. \u201cWith the release of both our imagePRESS C850\/C750 and imagePRESS C10000VP \/C8000 VP, our dealer base has been able to adapt to the ever-changing marketplace and provide products and solutions to penetrate the production print space.\u201d<\/p>\n
![\"\"](\"http:\/\/www.enxmag.com\/twii\/wp-content\/uploads\/2017\/05\/18-DominicJanney.jpg\")
Dominic Janney, CFS.<\/p><\/div>\n
CFS supports the new production print lines with a collaborative offering (direct and indirect channel partners) and a zero percent financing package designed to place new units in the field while displacing competitive units. \u201cThis has proven to be a strong offering that allows us to separate ourselves not only with the production excellence of the product, but also a financing option that only a captive unit can offer,\u201d said Janney.<\/p>\n
Researching the Product<\/strong><\/p>\n Creating financial products to support new dealer activities has required lessors to do some homework. \u201cWe review each product that we finance, from essentiality to an end user, the aftermarket for it, and any kind of residual valuations,\u201d said Fred Carollo, vice president of originations, Office Products at EverBank Commercial Finance. \u201cWe evaluate any new products such as signage or production print or managed services as a pure service offering. It\u2019s our job to understand the industry.<\/p>\n \u201cWe do our own due diligence behind a product and make sure it\u2019s something we\u2019re willing to finance,\u201d Carollo continued. \u201cThe reasons include the value of it in the open market during the term, essentiality to the end user, and what it\u2019s being used for. We will also look at the manufacturer of the product and make sure we understand the product from that perspective also\u2014to see what generation the product is, for example. If we do our job well from our side, it does reduce the risk.\u201d<\/p>\n Lessors also like to see that dealers are properly prepared to offer new product and service lines.<\/p>\n Fred Carollo, \u201cMy advice to any dealer is to make sure they understand what they are going into. Become an expert just like they did selling copiers back in the day,\u201d said Carollo. \u201cThe other side of it is never to lose focus on who they are, which is their core product offering.\u201d<\/p>\n Another area that lessors look at to evaluate dealers is their level of reliance on an offering. \u201cIf there was a high reliance on software or managed network services, we will look at the dealer to see that they know what they are doing in the area,\u201d said Carollo. \u201cIf they have a good understanding of the market and approach it correctly, it takes a lot of the risk away from us as the lessor with the enforceability of the contract.\u201d<\/p>\n Knowledge Sharing<\/strong><\/p>\n Dealers benefit from lessors\u2019 due diligence because what they learn is typically shared. That knowledge can be a resource for dealers when they are evaluating whether to take on a new brand. \u201cThat is a question we get asked a lot: \u2018What do you think of this product line vs that product line?\u2019 From the manufacturer level right down to the product itself, we get asked about our experience around the country of what we see in the market,\u201d Carollo remarked.<\/p>\n Knowing the likely residual value of a model or product line at the end of its lease term is important to dealers, and lessors will have that information. \u201cJust looking at copiers on large transactions, some manufacturers\u2019 products are worth more five to six years from now than other manufacturers,\u201d he added.<\/p>\n Bob Hunter, DLL<\/p><\/div>\n Having access to lessors\u2019 research and data can be particularly useful when one or more manufacturers are going through a difficult transition, or for whatever reason a manufacturer no longer\u001b meets the needs of a dealer. \u201cThe manufacturing environment is rapidly changing,\u201d said Bob Hunter, senior vice president of sales, Office Technology for Lessor at DLL. \u201cSome people were concerned about Sharp, but now with the investment from Foxconn, Sharp is very liquid.\u201d<\/p>\n A lessor could help dealers understand the risks and opportunities that come from change so that they can make better investments and choose partners more wisely. \u201cDLL is always willing to sit down and help [the dealers],\u201d said Hunter. \u201cWhen there\u2019s opportunity, we\u2019ll help you capitalize on it. Where there\u2019s a challenge, we\u2019ll help you work your way through it.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" As manufacturers add to their own service and product offerings, those that have captive financing arms are providing leasing options to support them and better enable dealers to make sales. Canon Financial Services, for example, supports Canon and Oc\u00e9 product lines, which include production and office imaging technology. It also supports Canon\u2019s managed print services, both with its direct division as well as those dealers that have developed this offering. \u201cCanon\u2019s understanding of this market allows CFS to review the credit in a more holistic approach and allow for higher soft costs,\u201d said Dominic Janney, vice president of sales and service for CFS. \u201cWith the release of both our imagePRESS C850\/C750 and imagePRESS C10000VP \/C8000 VP, our dealer base has been able to adapt to the ever-changing marketplace and provide products and solutions to penetrate the production print space.\u201d CFS supports the new production print lines with a collaborative offering (direct and indirect channel partners) and a zero percent financing package designed to place new units in the field while displacing competitive units. \u201cThis has proven to be a strong offering that allows us to separate ourselves not only with the production excellence of the product, but also a financing option that only a captive unit can offer,\u201d said Janney. Researching the Product Creating financial products to support new dealer activities has required lessors to do some homework. \u201cWe review each product that we finance, from essentiality to an end user, the aftermarket for it, and any kind of residual valuations,\u201d said Fred Carollo, vice president of originations, Office Products at EverBank Commercial Finance. \u201cWe evaluate any new products such as signage or production print or managed services as a pure service offering. It\u2019s our job to understand the industry. \u201cWe do our own due diligence behind a product and make sure it\u2019s something we\u2019re willing to finance,\u201d Carollo continued. \u201cThe reasons include the value of it in the open market during the term, essentiality to the end user, and what it\u2019s being used for. We will also look at the manufacturer of the product and make sure we understand the product from that perspective also\u2014to see what generation the product is, for example. If we do our job well from our side, it does reduce the risk.\u201d Lessors also like to see that dealers are properly prepared to offer new product and service lines. \u201cMy advice to any dealer is to make sure they understand what they are going into. Become an expert just like they did selling copiers back in the day,\u201d said Carollo. \u201cThe other side of it is never to lose focus on who they are, which is their core product offering.\u201d Another area that lessors look at to evaluate dealers is their level of reliance on an offering. \u201cIf there was a high reliance on software or managed network services, we will look at the dealer to see that they know what they are doing in the area,\u201d said Carollo. \u201cIf they have a good understanding of the market and approach it correctly, it takes a lot of the risk away from us as the lessor with the enforceability of the contract.\u201d Knowledge Sharing Dealers benefit from lessors\u2019 due diligence because what they learn is typically shared. That knowledge can be a resource for dealers when they are evaluating whether to take on a new brand. \u201cThat is a question we get asked a lot: \u2018What do you think of this product line vs that product line?\u2019 From the manufacturer level right down to the product itself, we get asked about our experience around the country of what we see in the market,\u201d Carollo remarked. Knowing the likely residual value of a model or product line at the end of its lease term is important to dealers, and lessors will have that information. \u201cJust looking at copiers on large transactions, some manufacturers\u2019 products are worth more five to six years from now than other manufacturers,\u201d he added. Having access to lessors\u2019 research and data can be particularly useful when one or more manufacturers are going through a difficult transition, or for whatever reason a manufacturer no longer\u001b meets the needs of a dealer. \u201cThe manufacturing environment is rapidly changing,\u201d said Bob Hunter, senior vice president of sales, Office Technology for Lessor at DLL. \u201cSome people were concerned about Sharp, but now with the investment from Foxconn, Sharp is very liquid.\u201d A lessor could help dealers understand the risks and opportunities that come from change so that they can make better investments and choose partners more wisely. \u201cDLL is always willing to sit down and help [the dealers],\u201d said Hunter. \u201cWhen there\u2019s opportunity, we\u2019ll help you capitalize on it. Where there\u2019s a challenge, we\u2019ll help you work your way through it.\u201d<\/p>\n","protected":false},"author":115,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[80,1650,83,1638],"tags":[2660],"_links":{"self":[{"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/24370"}],"collection":[{"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/users\/115"}],"replies":[{"embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/comments?post=24370"}],"version-history":[{"count":4,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/24370\/revisions"}],"predecessor-version":[{"id":24379,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/24370\/revisions\/24379"}],"wp:attachment":[{"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/media?parent=24370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/categories?post=24370"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/tags?post=24370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"http:\/\/www.enxmag.com\/twii\/wp-content\/uploads\/2017\/05\/16-Carollo-Fred-1.jpg\")
EverBank Commercial Finance<\/p><\/div>\n![\"\"](\"http:\/\/www.enxmag.com\/twii\/wp-content\/uploads\/2017\/05\/16-Bob-Hunter.jpg\")