With so much digital transformation happening around us, is the equipment financing business behind the curve? Are brokers even more behind the curve? The short answer is yes.
In a recent survey of more than 2,000 equipment sellers by Secured Research:
- 66% would not consider a finance partner unless they had a digital application experience
- 71% rank “digital customer experience” as a top five decision criteria when choosing a vendor finance company
“I don’t understand why buying new mowers requires more paperwork and three times the conversations than buying a $500,000 home does. It also takes longer for the approval — a real one — in some cases,” the owner of a multi-location landscaping company in the southeast said.
If you’re not pursuing and leading with better digital online customer experiences, you won’t win as many vendors as you’d like.
