Software implementations are notoriously expensive, lengthy and complex. A 2015 study by Panorama Consulting Solutions revealed that 55% of ERP projects run over budget and 75% run over schedule, which can create a large and unpredictable drain on cash reserves. A better strategy to manage costs for such a critical component of running and growing your business is through lease-financing.
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Going over budget and over schedule are just two of the challenges associated with software implementations. When it comes time to pay for project costs, banks often do not have the appetite to finance software and related soft costs — and when they do, they typically want you to use your line of credit. If you plan to pay cash, it could take a considerable bite out of your budget and tie up funds that could be used for other priorities.
Many food and beverage companies are left wondering how to pay for these projects. Our software financing solutions present a flexible funding option that can be used as a vehicle to transform large, upfront and erratic costs into fixed, predictable monthly payments with no fees. This means less surprises in your budget and better cash-flow. We only take a security interest in the equipment we finance, so you are never subjected to blanket liens. You also have the option to achieve off-balance sheet treatment for your project to avoid bank covenants. Plus, financing helps to simplify the project by rolling all of the costs up under one lease so you only have one vendor to pay — and one point of contact to help manage the entire lease administration.
Your company's growth initiatives do not need to take a back seat to critical software projects. You can move both forward.
Financing allows you to pay a low, fixed monthly payment over time while preserving cash for other strategic priorities.
- Warehouse Management Systems
- Accounting Systems
- Hardware Implementation
- Training Fees
- Time and Travel