Brisbane-based Data storage and retrieval company doctrieve has formed a financing alliance with ASX-listed Equico to enable its customers access to software on a rental basis.
In doing so, doctrieve hopes to eliminate the up-front capital cost of buying business software and drive more sales through its emerging channel, according to Mike O'Neill, general manager for doctrieve.
Under the agreement, doctrieve will provide customers with a range of financing options similar to the widely accepted rental and leasing of hardware, through corporate financier Equico.doctrieve will offer its DT2000 product, a client server-style office product for the retrieval of scanned documents and electronic files, and its Web Enabled Harlequin suite, a large-scale indexing and retrieval product.
The move comes at a time when doctrieve is looking to grow its reseller channel and according to doctrieve's managing director, Earl Woolley, the rental approach is suited to a range of customers.
"At the end of the day, the hip pocket drives a lot of the buying decisions," Woolley said. "The big thing with any investment is the up front cost. Now a company can get into e-commerce for as little as a couple hundred dollars a month, and most of it can be written off as a tax deduction.
"Normally financing companies don't want to touch software because once it's installed it looses so much of its value. So this alliance shows [Equico] has a lot of faith in what we're doing," he added.doctrieve is also trying to reach new customers in the SME space who in the past, may have been put off by "lump-sum" investments.
"It's getting past that first stage, so it won't become a barrier. Once you've killed that off early [the customer] can concentrate on the product," O'Neill said.
O'Neill claims doctrieve is looking for a take up of the rental option of "around 5 per cent initially, and that gives us a reasonable return on our investment".