Synnex strengthens finance options through automation

Synnex strengthens finance options through automation

New offering has been integrated into the Synnex E-commerce Partner Portal

Credit: Synnex Australia

Synnex Australia has unveiled new finance solutions designed to simplify the sales process for the channel, allowing partners to offer hardware, cloud, licensing and professional services under one monthly bill.

Under the banner of Managed Services Finance, the offering has been integrated into the Synnex E-commerce Partner Portal, creating an automated finance approval process using application programming interface (API) technologies.

Through an existing Synnex login, local partners can create finance quotations, apply for pre-approval and manage finance settlement statuses.

“We continue to innovate by integrating finance into our partner platform,” Synnex Australia and New Zealand CEO, Kee Ong, said. “Partners can now go to market with a device-as-a-service offering under one monthly bill.

“Challenges around recurring monthly subscriptions can also be addressed using the single invoice solution from Synnex.”

In leveraging automation, once the finance contract has been approved, Ong said product orders can be submitted directly for fulfilment without double data entry.

Ong said the offering “does not impact” existing partner credit terms with Synnex, meaning partners can “enjoy extra margins” on the total finance amount, including finance margin on annual cloud solution provider (CSP) subscriptions and professional services.

The move comes in response to changing market dynamics, with the distribution giant investing heavily in partner program capabilities during the past 12 months, to ensure easier access to finance solutions.

Through Synnex, finance amounts start from $1,000 with terms ranging from 12 to 60 months.

“Finance for hardware has been around for a very long time,” Synnex Australia general manager of e-commerce and cloud services, Michael Tea, added. “The difference is that we have now accomplished finance application and approval automation through a distribution platform.

“To complement our finance offering, we will work with a service provider to offer a ‘Buy Back Program’ on ageing IT equipment.”

Tea said the finance contract platform allows partners to track the progress of each finance application with automated status updates.

Applications are tracked throughout the whole contract life cycle from open contracts to settlement and expired finance contracts, which Tea said allows partners to manage finance renewals by having “greater visibility” when end client finance contracts are expiring 30, 60, 90 days out.

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