The importance of software in the business world cannot be understated. Modern companies use a variety of different systems, from CRMs to ERPs. But unfortunately, the importance of computer software does not mean that it comes cheap.
As a software salesperson, you’ll be familiar with the different services which need to be included. Not only do your customers need to buy the software licence, but they will need to pay for services like installation, consultancy, and support as well.
When you start to add each of these services to the cost of the software, the price begins to mount. And it is then that your customers will start to present those dreaded budget objections. These are the nemesis of every B2B salesperson.
Budget objections are a problem in themselves. However, they snowball into customer hesitation, a prolonged sales cycle, and missed opportunities. All of these problems become a drain on your time and prevent you from hitting your targets.
How do I overcome budget objections on software sales?
In response to the abovementioned problems, Synergi Finance have crafted a simple solution. This solution is twofold. Part one involves bundling your software and services together. Whereas part two involves a monthly payment option.
When you bundle products (like software) and services (like installation) into a package, your customer does not have to keep track of various different payments. This looks more attractive to the customer, and it is called a ‘managed service solution’.
While this reduces the number of price tags, it does nothing to the actual price. And this is where Synergi comes in. We allow you to offer a managed service solution at an affordable monthly rate. Although, you will still be paid in full and upfront.
A commercial lender is invited into the transaction, and they will pay you the full package amount. From your side of things, it’s just like any other transaction. Your customer will then make monthly repayments to this lender (plus some interest).
This is a type of sales enablement finance which we call ‘managed service solution finance’.
What are the benefits of selling software on finance?
There are five main benefits of selling computer software on finance. These are:
- It overcomes customer budget objections
Finance makes a large price tag look smaller and more manageable by breaking it down into monthly installments.
- It makes repayments easily affordable
Synergi Finance can adapt your customer’s agreement so that their repayments will complement their cash flow.
- It protects your customer’s cash reserves
Your customers will be able to pay for your solution with their cash flow. This leaves their cash reserves untouched.
- Your customer’s bundle will be bespoke
The products and services which you offer your customer could also be unique to them and their company’s needs.
- The finance is tailored to the customer
And finally, Synergi can adjust elements of the finance. We can change the term, make it low-interest, or even 0%.
How do I offer a finance payment option?
Synergi’s B2B vendors offer finance on their products and services through our multi-award winning portal. The Synergi Portal is a sales enablement tool which is free to use. And what’s more, it allows you to carry out four key functions. These include:
- Quoting
You can create a bespoke finance quotation for your customer. It will even have your company logo featured on it.
- Appraising
The Synergi Portal is integrated with Companies House and Credit Safe. You can therefore run credit appraisals on customers.
- Converting
Tell your broker that a quote has been given the green light by converting it into a deal. Synergi will then secure the finance.
- Tracking
And last of all, you can track your deals through the underwriting and documentation process. This keeps you in the know.
Register your interest in a Synergi Portal demo by completing an enquiry form. Alternatively, you can contact one of our friendly brokers by calling 0333 242 3311. Or send an email to info@synergi-finance.co.uk.
