Budget-Focused Finance
Budget-focused finance is more of a sales technique than it is a type of payment model. Like all types of finance, the cost of a solution is broken down into a series of payments.
However, budget-focused finance differs from products like a lease in terms of how it is set up. You should put the customer first. Establish the budget, as well as the ideal term.
But budget-focused finance isn’t just a case of being bespoke. It is also about presenting the finance in an attractive way, which compliments your customer’s individual cash flow.
When you offer budget-focused finance, you can break the agreement down into shorter and shorter terms. You can then calculate the cost per month, per week, or even per day.
This will show your customer exactly how manageable finance can be, making payments look small and easily offsetable. Customers will struggle to find a reason not to sign off.
Budget-Focused Finance
What is Budget-Focused Finance?
Budget-focused finance is more of a sales technique than it is a type of payment model. Like all types of finance, the cost of a solution is broken down into a series of payments.
However, budget-focused finance differs from products like a lease in terms of how it is set up. You should put the customer first. Establish the budget, as well as the ideal term.
But budget-focused finance isn’t just a case of being bespoke. It is also about presenting the finance in an attractive way, which compliments your customer’s individual cash flow.
When you offer budget-focused finance, you can break the agreement down into shorter and shorter terms. You can then calculate the cost per month, per week, or even per day.
This will show your customer exactly how manageable finance can be, making payments look small and easily offsetable. Customers will struggle to find a reason not to sign off.
Why should you offer budget-focused finance?
The most common obstacles which B2B salespeople come up against are ‘budget objections’. When you offer your customer a finance payment option at the point-of-sale, the limits of their budget are no longer a problem.
Removing budget objections from the negotiation process means that your customers will spend less time hesitating over the cost. And if they’re trying to get a cheaper deal, they have less of an excuse to procrastinate.
Shortening the negotiation process means that the overall sales cycle is shortened as well. This will increase the number of opportunities you get because your salespeople will be free to call prospects and generate business.
One problem that B2B salespeople encounter, which often stems from budget objections, is ‘discounting’. But when you avoid budget objections through point-of-sale finance, you also side-step giving out these discounts.
When your customer makes the most of a point-of-sale finance option, it frees up their cash flow. This means they can invest into other areas of their business and perhaps seek more products and services from you.
Even though the customer pays in a series of manageable installments, you will be paid in full and upfront. This is because we invite a lender into the transaction who pays you and collects the customers repayments.
Why should you offer budget-focused finance?
The most common obstacles which B2B salespeople come up against are ‘budget objections’. When you offer your customer a finance payment option at the point-of-sale, the limits of their budget are no longer a problem.
Removing budget objections from the negotiation process means that your customers will spend less time hesitating over the cost. And if they’re trying to get a cheaper deal, they have less of an excuse to procrastinate.
Shortening the negotiation process means that the overall sales cycle is shortened as well. This will increase the number of opportunities you get because your salespeople will be free to call prospects and generate business.
One problem that B2B salespeople encounter, which often stems from budget objections, is ‘discounting’. But when you avoid budget objections through point-of-sale finance, you also side-step giving out these discounts.
When your customer makes the most of a point-of-sale finance option, it frees up their cash flow. This means they can invest into other areas of their business and perhaps seek more products and services from you.
Even though the customer pays in a series of manageable installments, you will be paid in full and upfront. This is because we invite a lender into the transaction who pays you and collects the customers repayments.
What can you sell with budget-focused finance?
You can use budget-focused finance to sell a wide range of products and services. From hardware and software, to manufacturing and plant equipment. Here are some common examples:
Office Equipment
Hardware, software, telecommunications, security systems, refurbishments, and office furniture.
Plant, Machinery & Garage Equipment
Cutting machines, drilling machines, compressors, hydraulic lifts, conveyors, and foundry equipment.
Medical Equipment
CT scanners, ultrasound scanners, dispensing robots, nerve monitoring systems, and PMR software.
Surveying Equipment
Commercial drones, propellors, batteries, gambles, cameras, microphones, and mapping software.
Renewable Energy Equipment
Solar panels, biomass boilers, ground source heat pumps, air source heat pumps, space heating, and LED lighting.
Commercial Vehicles
Heavy goods vehicles (HGVs), delivery vans, company cars, cranes, forklifts, tractors, and excavators.
What can you sell with budget-focused finance?
You can use budget-focused finance to sell a wide range of products and services. From hardware and software, to manufacturing and plant equipment. Here are some common examples:
Office Equipment
Hardware, software, telecommunications, security systems, refurbishments, and office furniture.
Plant, Machinery & Garage Equipment
Cutting machines, drilling machines, compressors, hydraulic lifts, conveyors, and foundry equipment.
Medical Equipment
CT scanners, ultrasound scanners, dispensing robots, nerve monitoring systems, and PMR software.
Surveying Equipment
Commercial drones, propellors, batteries, gambles, cameras, microphones, and mapping software.
Renewable Energy Equipment
Solar panels, biomass boilers, ground source heat pumps, air source heat pumps, space heating, and LED lighting.
Commercial Vehicles
Heavy goods vehicles (HGVs), delivery vans, company cars, cranes, forklifts, tractors, and excavators.
Access the Synergi Partner Portal
Closing a B2B sale has never been easier, thanks to our multi-award winning Synergi Partner Portal. This is a FREE sales tool, which has access to more than 100 UK and European lending streams. The Synergi Partner Portal allows you to do four things:
Access the Synergi Partner Portal
Closing a B2B sale has never been easier, thanks to our multi-award winning Synergi Partner Portal. This is a FREE sales tool, which has access to more than 100 UK and European lending streams. The Synergi Partner Portal allows you to do four things:
The Synergi Partner Portal
Access to the Synergi Partner Portal is completely free of charge. We won’t request a monthly (or an annual) subscription fee. And we won’t take a chunk of your earnings.
Vendors who used our portal reported a 63% uplift in sales conversion. You will only gain from adding finance to your process. Offering finance will never cost you a sale.
And speaking of processes, our portal follows a very simple one. First, you will create a bespoke finance quote. After that, you can carry out a credit appraisal on your customer.
Then, once you and the customer are both in agreement, you can convert the quote into a deal. This deal can then be tracked in the portal, whilst our lenders are underwriting it.
And finally, the customer can e-sign their documents to speed up the payment process. A point-of-sale finance transaction could therefore turn around in as little as 24 hours.
Quick finance quotes
Identifying your B2B customer has never been easier, thanks to the Synergi Portal. And this is because our system is integrated with Companies House.
Companies House is the government’s official list of businesses, meaning that customers automatically appear when you type their names into the portal.
The system is also designed to produce a bespoke finance quote. This will include your company logo in the top right-hand corner of the document.
Instant credit appraisals
What’s more, the Synergi Partner Portal is integrated with Credit Safe. Credit Safe is both a credit reporting company and a business intelligence database.
You can then request an instant appraisal of your customer. But this appraisal is only summative, meaning that it leaves no footprints on their credit history.
You can therefore see whether a certain company would be a good customer for you, without hindering their future ability to be approved for finance.
Convert quotes into deals
When your customer decides to pay through finance, you can easily convert a quote into a deal. This is a signal to us that the deal is ready for underwriting.
At this point, we’ll need to ask for a few more details. What are we financing? Who do we need to speak to? What is the customer using this product for?
This allows our brokers to do their due diligence and answer any questions which underwriters might have. It also helps us to pick an appropriate lender.
Track your deal
Once you convert a quote into a deal, it’s placed into the care of our dedicated account managers. You can then log into the portal and track its progress.
This provides you with the visibility that you need to see your transactions through. You can also contact your broker with questions, or for an update.
All our partners are assigned their own account manager. They will then be given their details. That way, they’re always speaking to the same person.
Get paid quickly
And finally, all of our finance transactions are completed through e-signable documentation. This makes the closure of your deal both simple and secure.
You can upload invoice instructions to the portal before your products are delivered. Invoice instructions tell the lender where to send their payment.
Once invoice instructions are uploaded, this will trigger a payment from the commercial lender to arrive in your business’s bank account within 24 hours.
The Synergi Partner Portal
Access to the Synergi Partner Portal is completely free of charge. We won’t request a monthly (or an annual) subscription fee. And we won’t take a chunk of your earnings.
Vendors who used our portal reported a 63% uplift in sales conversion. You will only gain from adding finance to your process. Offering finance will never cost you a sale.
And speaking of processes, our portal follows a very simple one. First, you will create a bespoke finance quote. After that, you can carry out a credit appraisal on your customer.
Then, once you and the customer are both in agreement, you can convert the quote into a deal. This deal can then be tracked in the portal, whilst our lenders are underwriting it.
And finally, the customer can e-sign their documents to speed up the payment process. A point-of-sale finance transaction could therefore turn around in as little as 24 hours.
Quick finance quotes
Identifying your B2B customer has never been easier, thanks to the Synergi Portal. And this is because our system is integrated with Companies House.
Companies House is the government’s official list of businesses, meaning that customers automatically appear when you type their names into the portal.
The system is also designed to produce a bespoke finance quote. This will include your company logo in the top right-hand corner of the document.
Instant credit appraisals
What’s more, the Synergi Partner Portal is integrated with Credit Safe. Credit Safe is both a credit reporting company and a business intelligence database.
You can then request an instant appraisal of your customer. But this appraisal is only summative, meaning that it leaves no footprints on their credit history.
You can therefore see whether a certain company would be a good customer for you, without hindering their future ability to be approved for finance.
Convert quotes into deals
When your customer decides to pay through finance, you can easily convert a quote into a deal. This is a signal to us that the deal is ready for underwriting.
At this point, we’ll need to ask for a few more details. What are we financing? Who do we need to speak to? What is the customer using this product for?
This allows our brokers to do their due diligence and answer any questions which underwriters might have. It also helps us to pick an appropriate lender.
Track your deal
Once you convert a quote into a deal, it’s placed into the care of our dedicated account managers. You can then log into the portal and track its progress.
This provides you with the visibility that you need to see your transactions through. You can also contact your broker with questions, or for an update.
All our partners are assigned their own account manager. They will then be given their details. That way, they’re always speaking to the same person.
Get paid quickly
And finally, all of our finance transactions are completed through e-signable documentation. This makes the closure of your deal both simple and secure.
You can upload invoice instructions to the portal before your products are delivered. Invoice instructions tell the lender where to send their payment.
Once invoice instructions are uploaded, this will trigger a payment from the commercial lender to arrive in your business’s bank account within 24 hours.