For solution providers, the ability to offer customers an attractive financing or leasing package can often be the make or break factor in closing a deal. Samsung is launching an all-encompassing financing and leasing program, making it among the first--if not the only--major component provider with such a program. For Samsung and its solution providers, the offering is a significant differentiator in the ever-more-competitive LCD and printing arenas.
"It's definitely a deciding factor," said Chuck Kokaska, president of Computer Specialists, a Whitesford, N.Y.-based solution provider, which has used financing options from Hewlett-Packard, IBM and companies that are not manufacturers, and will be eligible for the new Samsung program. "Especially with small businesses, if you can give them a nice, attractive rate they will usually jump on a lease. We've probably closed some deals as a result."
The Irvine, Calif.-based Samsung Information Technology division of global component, electronics and semiconductor company is letting its authorized solution providers know that they are eligible to offer the Samsung Lease Program to their clients. The program is a joint offering between Samsung and GE Commercial Finance.
Rey Roque, vice president of marketing in the Samsung unit, said the offering will permit resellers' customers to bundle the cost of Samsung's and other vendors' IT products--even a solution provider's services--into one invoice with a monthly payment schedule. "The lease can include everything including maintenance agreements, installation and integration," Roque said.
The leasing option should also help speed up the payment of back-end financial incentives to solution providers, Roque said.
To be eligible, a solution provider's customer must be purchasing a Samsung LCD, CRT, plasma monitor, laser printer or multifunction device that is shipped through Samsung's authorized distributors.
Kokaska lauded Samsung for its work designing programs that meet the needs of its partners. "We've got some manufacturers out there that seem like they put [a program or product] out and expect you to beat a path to it," Kokaska said.