Tech Data has announced the launch of “Tech Data Capital,” a captive finance company that offers payment solutions to help businesses acquire technology products.
“As technology continues to transform at a record pace, Tech Data Capital provides strategic, flexible finance solutions to enable our partners to close more business and add additional value for their end-users,” said Wayne Peters, vice president of financial solutions, Tech Data. “Our channel expertise, emphasis on the customer experience, and the backing of one of the largest IT distributors in the world makes Tech Data Capital an easy choice for businesses in need of financing options for technology procurement.”
Tech Data Capital is intended to offer a simplified approach to leasing and financing. A payment solution for any product in the Tech Data portfolio can be integrated into a sale with the assistance of Tech Data Capital. Transactions are funded for the full term upfront, eliminating credit risk for the channel partner, and providing greater customer value.
One of the first vendors to leverage Tech Data Capital is Schneider Electric with a subscription-based power supply solution called UPS as a Service. With this offering, customers bundle an APC Smart-UPS, Schneider Electric Monitoring and Dispatch service, and a network management card into a single solution and make low monthly payments to Tech Data Capital over the course of the maintenance term. This provides value to partners by increasing credit capacity and providing predictable refresh cycles. It also allows customers to preserve capital by eliminating a large cash outlay upfront as they keep up with the latest technology.
Tech Data’s new captive finance company is intended to help businesses fund essential technology purchases and conserve capital with smart payment solutions.