Local leasing players lock horns over customer loyalty

Local leasing players lock horns over customer loyalty

The battle for bragging rights in the IT leasing/financing market raged again recently with Dell Financial Services (DFS) launching its campaign to compete head-on with the likes of fellow newcomer Compaq Capital and established players such as IBM Credit, HP Finance and Comdisco.

Established in 30 countries, DFS was created to service the leasing, finance and asset management requirements of Dell customers exclusively. But, according to Dominic Corrigan, DFS' South Pacific general manager, the organisation is also willing to "finance non-Dell equipment for Dell customers".

And it is this brand and customer loyalty where the leasing battle lines have been drawn.

Compaq Capital, a separate legal entity from the Compaq computer company, was established in February this year to provide a range of leasing and financing products including solution financing, operating leasing, fixed term lease and financing and technology refreshment leases.

However, Compaq Capital makes no bones about the fact that it does not go out looking for customers who are not Compaq Computer customers, according to Philip Schultz, Compaq Capital's Asia-Pacific managing director.

"It is a very competitive market locally and we compete tooth and nail with IBM Credit, HP Finance and the local finance companies," Schultz said.

So competitive, in fact, that Schultz declined to comment on which customers Compaq Capital has signed up since February. Meanwhile, over at DFS, the company earlier this month signed up its first customer, Du Pont, and has others pending.

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