{"id":13816,"date":"2015-08-06T12:06:38","date_gmt":"2015-08-06T19:06:38","guid":{"rendered":"http:\/\/www.enxmag.com\/twii\/?p=13816"},"modified":"2016-09-15T09:46:46","modified_gmt":"2016-09-15T16:46:46","slug":"everbank-prepares-for-the-digital-signage-revolution","status":"publish","type":"post","link":"https:\/\/www.enxmag.com\/twii\/the-week-in-imaging-twii\/2015\/08\/everbank-prepares-for-the-digital-signage-revolution\/","title":{"rendered":"EverBank Prepares for the Digital Signage Revolution"},"content":{"rendered":"

\"sharpNobody knows digital signage and displays like the OEMs and dealers who sell those products.<\/p>\n

But there\u2019s another group connected to the document imaging industry that\u2019s expanding its knowledge and influence in this emerging product segment and that\u2019s the leasing companies. EverBank Commercial Finance is one of those companies moving rapidly along this learning curve. Earlier this year I interviewed Fred Carollo, VP of Originations Office Products for EverBank, for an article about new leasing products and programs as well as trends impacting EverBank\u2019s current and future offerings. Digital signage and whiteboards were two of those emerging product categories referenced by Carollo in that interview.<\/p>\n

Among the three players in this category\u2014Sharp, Toshiba, Samsung\u2014EverBank works most closely with Sharp, but is in discussions to expand its relationship with Toshiba.<\/p>\n

Lately EverBank has been developing programs around digital signage and displays that will help dealers and direct branches sell more product.<\/p>\n

\u201cOne is a term with option program\u2014for example, three years with a two-year option\u2014where you can continue with the current piece of equipment , upgrade to new technology or walk away,\u201d states Carollo. \u201cWe created that program because a lot of end users might prefer to upgrade and not want to commit for five or six years at this time with the idea of technology advances that may be in the future.\u201d<\/p>\n

\"Fred

Fred Carollo<\/p><\/div>\n

EverBank also has a dealer\/branch ownership program.<\/p>\n

\u201cIt\u2019s still an open-ended contract for the end user with a purchase option, and the dealer can control that option at little or no cost to them at all,\u201d states Carollo. \u201cWe\u2019re thinking end users will continue to use the product as long as the technology doesn\u2019t change much. If they want to upgrade, it enables the dealer to bring the existing equipment into inventory at a very low or at virtually no cost and then put it back out to a different level of end user while upgrading their current user to new equipment.\u201d<\/p>\n

Perhaps the most intriguing product for this segment from EverBank is a programming inclusive product, reminiscent of a traditional cost-per-copy program. \u201cThere are a lot of programming costs in digital signage and an ongoing monthly fee for that and that\u2019s included in this program,\u201d says Carollo.<\/p>\n

With some OEMs pushing the content element as much as the hardware, Carollo acknowledges that this is essential for a leasing company to work into the programs for these products.<\/p>\n

\u201cFor dealers and branches it\u2019s essential from a gross profit standpoint and it makes it much easier to sell and much easier for end users to say \u2018yes\u2019 to.\u201d<\/p>\n

Even though EverBank has programs in place for these products there\u2019s still a lot to be learned about the overall market.<\/p>\n

\u201cWe\u2019re still trying to determine the aftermarket,\u201d explains Carollo. \u201cFrom our perspective, the lessor, that\u2019s essential.\u201d<\/p>\n

So is coming up with a profile of the end user in terms of who\u2019s buying and how it\u2019s used in a particular organization or business.<\/p>\n

\u201cEvery environment is different so if we go from a hospital to a retail shop, it\u2019s a very different environment,\u201d notes Carollo.<\/p>\n

The company is also looking at trends related to ownership of these products.<\/p>\n

\u201cDo end users keep it for 10 years, or three years and then upgrade?\u201d asks Carollo. \u201cWe figured that out with copiers and printers, but the jury is still out on end user behavior with these products.\u201d<\/p>\n

He adds that it\u2019s not all that complicated for a leasing company to take on a new technology since it can apply the same principles as with all the other assets.<\/p>\n

\u201cThe element that\u2019s missing right now is time and history and that\u2019s essential,\u201d emphasizes Carollo. \u201cI wouldn\u2019t say we\u2019re being cautious, we\u2019re being smart. We\u2019re leaving ourselves room in case the trends go one way or in case the trends go another way. We\u2019re trying to do it in a way that allows branches and dealers to sell this product competitively while we take the appropriate asset risk.\u201d<\/p>\n

Based on Carollo\u2019s early observations of the channels selling these products, more business is funneling through the direct branches at this time.<\/p>\n

\u201cIndependent dealers are still at an early stage with this product,\u201d he says.<\/p>\n

He expects that to change as more dealers carry these products and close more transactions, and find new opportunities with digital signage and display customers for the other products they sell.<\/p>\n

For now, Carollo is optimistic that the digital signage and display categories are poised for a growth spurt for the OEMs and independent dealer community alike.<\/p>\n

\u201cWe like the product and the need for it is pretty wide in the marketplace,\u201d says Carollo. \u201cI don\u2019t think it will ever be a huge percentage of a copier dealer\u2019s or branch\u2019s business compared to copiers and printers, but it will be increasing as a percentage of what they sell, and we\u2019d like to be able to accommodate and enhance our vendor\u2019s and manufacture\u2019s go to market needs and strategies.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Nobody knows digital signage and displays like the OEMs and dealers who sell those products. But there\u2019s another group connected to the document imaging industry that\u2019s expanding its knowledge and influence in this emerging product segment and that\u2019s the leasing companies. EverBank Commercial Finance is one of those companies moving rapidly along this learning curve. Earlier this year I interviewed Fred Carollo, VP of Originations Office Products for EverBank, for an article about new leasing products and programs as well as trends impacting EverBank\u2019s current and future offerings. Digital signage and whiteboards were two of those emerging product categories referenced by Carollo in that interview. Among the three players in this category\u2014Sharp, Toshiba, Samsung\u2014EverBank works most closely with Sharp, but is in discussions to expand its relationship with Toshiba. Lately EverBank has been developing programs around digital signage and displays that will help dealers and direct branches sell more product. \u201cOne is a term with option program\u2014for example, three years with a two-year option\u2014where you can continue with the current piece of equipment , upgrade to new technology or walk away,\u201d states Carollo. \u201cWe created that program because a lot of end users might prefer to upgrade and not want to commit for five or six years at this time with the idea of technology advances that may be in the future.\u201d EverBank also has a dealer\/branch ownership program. \u201cIt\u2019s still an open-ended contract for the end user with a purchase option, and the dealer can control that option at little or no cost to them at all,\u201d states Carollo. \u201cWe\u2019re thinking end users will continue to use the product as long as the technology doesn\u2019t change much. If they want to upgrade, it enables the dealer to bring the existing equipment into inventory at a very low or at virtually no cost and then put it back out to a different level of end user while upgrading their current user to new equipment.\u201d Perhaps the most intriguing product for this segment from EverBank is a programming inclusive product, reminiscent of a traditional cost-per-copy program. \u201cThere are a lot of programming costs in digital signage and an ongoing monthly fee for that and that\u2019s included in this program,\u201d says Carollo. With some OEMs pushing the content element as much as the hardware, Carollo acknowledges that this is essential for a leasing company to work into the programs for these products. \u201cFor dealers and branches it\u2019s essential from a gross profit standpoint and it makes it much easier to sell and much easier for end users to say \u2018yes\u2019 to.\u201d Even though EverBank has programs in place for these products there\u2019s still a lot to be learned about the overall market. \u201cWe\u2019re still trying to determine the aftermarket,\u201d explains Carollo. \u201cFrom our perspective, the lessor, that\u2019s essential.\u201d So is coming up with a profile of the end user in terms of who\u2019s buying and how it\u2019s used in a particular organization or business. \u201cEvery environment is different so if we go from a hospital to a retail shop, it\u2019s a very different environment,\u201d notes Carollo. The company is also looking at trends related to ownership of these products. \u201cDo end users keep it for 10 years, or three years and then upgrade?\u201d asks Carollo. \u201cWe figured that out with copiers and printers, but the jury is still out on end user behavior with these products.\u201d He adds that it\u2019s not all that complicated for a leasing company to take on a new technology since it can apply the same principles as with all the other assets. \u201cThe element that\u2019s missing right now is time and history and that\u2019s essential,\u201d emphasizes Carollo. \u201cI wouldn\u2019t say we\u2019re being cautious, we\u2019re being smart. We\u2019re leaving ourselves room in case the trends go one way or in case the trends go another way. We\u2019re trying to do it in a way that allows branches and dealers to sell this product competitively while we take the appropriate asset risk.\u201d Based on Carollo\u2019s early observations of the channels selling these products, more business is funneling through the direct branches at this time. \u201cIndependent dealers are still at an early stage with this product,\u201d he says. He expects that to change as more dealers carry these products and close more transactions, and find new opportunities with digital signage and display customers for the other products they sell. For now, Carollo is optimistic that the digital signage and display categories are poised for a growth spurt for the OEMs and independent dealer community alike. \u201cWe like the product and the need for it is pretty wide in the marketplace,\u201d says Carollo. \u201cI don\u2019t think it will ever be a huge percentage of a copier dealer\u2019s or branch\u2019s business compared to copiers and printers, but it will be increasing as a percentage of what they sell, and we\u2019d like to be able to accommodate and enhance our vendor\u2019s and manufacture\u2019s go to market needs and strategies.\u201d<\/p>\n","protected":false},"author":3,"featured_media":12725,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1638],"tags":[984,183,192],"_links":{"self":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/13816"}],"collection":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/comments?post=13816"}],"version-history":[{"count":1,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/13816\/revisions"}],"predecessor-version":[{"id":13818,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/13816\/revisions\/13818"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/media\/12725"}],"wp:attachment":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/media?parent=13816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/categories?post=13816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/tags?post=13816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}