Lenovo partners with BOQ Finance to bring funding options for SMBs

Lenovo partners with BOQ Finance to bring funding options for SMBs

Vendor brings financial options for channel partners to better serve SMBs

Lenovo has entered into a partnership with BOQ Finance in a move to strengthen its financing options for SMB customers in A/NZ.

Lenovo A/NZ managing director, Matt Codrington, said the deal provides channel partners with an opportunity to let SMB customers finance Lenovo products, services and IT infrastructure in midst of a tough economic climate.

“By going with BOQ Finance, business confidence gets a boost and it gives an option for our customers to conserve their capital when acquiring technology,” he said.

For Lenovo’s partners, Codrington said the move increases their chances to secure sales without affecting cash flow and margins.

“Margins for partners are very thin, so it’s tougher than ever to drive those sales and make money,” he said.

“What this does is essentially provide them access to improved cash flow, giving them the order value and margin of the product.”

Partners also have access to additional service offerings, which can translate to further revenue opportunities for add-ons and upgrades.

“They can build a repeat business model with customers to protect and control their customer base through that ongoing financial relationship that requires the regular contact,” Codrington said.

“It allows them to be competitive so they can add services and equipment during the course of the agreement, with smaller increments to the increasing quarterly payments.”

Partners can also provide a “cost of ownership solution,” where they can provide a financial solution to customers that lowers the payment and results in a more structured approach to the acquisition of technology.

Channel investment

When it comes to the timing of the move, Codrington said that as a 100 per cent channel focused organisation, it was important for Lenovo to provide these options to its channel partners.

“It has been our intent to work with channel partners that have that synergy with us and provide an expanded base of opportunity for them,” he said.

After reporting a strong quarter in A/NZ, Codrington said it was time to reinvest in an area of Lenovo’s local business that is important to the vendor.

“We see this as an opportunity for us and our channel partners to continue to build that business together,” he said.

Patrick Budmar covers consumer and enterprise technology breaking news for IDG Communications. Follow Patrick on Twitter at @patrick_budmar.

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Tags smbchannel programLenovofinancing deal

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