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LAN Systems unleashes leasing strategy

LAN Systems unleashes leasing strategy

LAN Systems officially launched its leasing program yesterday in a bid to give its reseller partners extra bargaining power in customer deals.

The company now offers a product known as LAN Systems Finance through a deal with finance company Leasetec, which it claims will give resellers the ability to provide the right solution without the need to squabble over pricing.

Nick Verykios, LAN Systems' chief marketing officer, said the announcement completes months of negotiations and industry research. ARN first broke news of LAN Systems' leasing plans in March this year.

"We're hoping 30 per cent of our business will go through this program by June 30, 2000," Verykios said.

LAN Systems Finance is designed to allow resellers to negotiate financing options with a customer for an agreed solution, then receive a payment from Leasetec for the total amount once normal credit approval processes are completed.

The company claims the program removes concerns over up-front costs from the IT purchasing equation.

Customers will typically lock themselves into a monthly payment amount, which covers the total cost of network design, implementation, training and product upgrades.

Verykios explained the "Technology Refresh" feature allows customers to upgrade their network over the course of the lease without a change to their monthly payments.

Leasetec is the only company that assumes any financial risk through the transaction, he said.

Verykios said the only "hidden catch" for a customer is whether it can afford the agreed monthly payments.


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