Forward Thinking In Equipment and Technology Sales

The current period of global instability has weakened confidence among investors, businesses and consumers. But as past episodes have demonstrated, the years that follow major crises typically spawn new trends that may be more favorable for economic output and market returns. As we look across to the other side of the economic damage caused by this pandemic, we see another phase of renewal driven by digitization, automation, new online services and investment in telecommunication and healthcare infrastructure.  Forward thinking equipment and technology sales organizations understand the importance of providing customer payment options….are you? Call today to learn more about Dimension Funding and our creative, innovative and flexible financing programs that help to leverage more profitable sales!

 

Creative Customer Financing Programs For Trendway Dealers

 

Financing Leverages Sales

It’s no joke! The creative utilization of financing programs - as part of your comprehensive sales strategy - will leverage more profitable deals.  Call today for additional details and program information.

 

May Confidence in Equipment Finance Market

Credit: The Monitor Daily 

Equipment Finance Industry Confidence Remains Near Historic High in May

According to the Equipment Leasing & Finance Foundation’s May 2021 Monthly Confidence Index for the Equipment Finance Industry (MCI-EFI), overall confidence in the equipment finance market is 72.1, easing from April’s all-time high of 76.1.

“While vaccine ‘herd immunity’ may be unachievable, warmer weather, immunity provided by previous infections and over 105 million Americans fully vaccinated will allow most economic activity to resume at pre-pandemic levels this summer,” Bruce J. Winter, president of FSG Capital, said. “Business owners are much more optimistic and stimulus supported capital spending will likely reach unprecedented levels in the next 12 months. Prolonged inflation risk is a real concern, as this untested experiment in rapidly expanding government debt will reach new highs.”

When asked to assess their business conditions over the next four months, 53.6% of responding executives said they believe business conditions will improve over the next four months, down from 73.3% in April. Meanwhile, 46.4% of respondents believe business conditions will remain the same over the next four months, up from 23.3% last month. None of the respondents believe business conditions will worsen, down from 3.3% in April.

More than half (53.6%) of the survey respondents believe demand for leases and loans to fund capital expenditures (capex) will increase over the next four months, down from 70% in April. The remaining 46.4% of respondents believe demand will “remain the same” during the same four-month time period, an increase from 30% the previous month. None of the respondents believe demand will decline, unchanged from April.

“We are seeing demand increase for capital expenditures, especially large facility expansions,” Michael Romanowski, president of Farm Credit Leasing, said. “Material and labor cost increases are requiring customers to sharpen the pencil to ensure investments remain prudent.”

Nearly a third (32.1%) of the respondents said they expect more access to capital to fund equipment acquisitions over the next four months, down from 43.3% in April. The majority (67.9%) of executives indicated they expect the “same” access to capital to fund business, an increase from 56.7% last month. None of the respondents expect “less” access to capital, unchanged from the previous month.

When asked, 39.3% of the executives reported they expect to hire more employees over the next four months, down from 43.3% in April. Meanwhile, 60.7% expect no change in headcount over the next four months, an increase from 56.7% last month. None of the respondents expect to hire fewer employees, unchanged from April.

Only 10.7% of the leadership evaluated the current U.S. economy as “excellent,” a decrease from 13.3% the previous month. Most of the leadership (89.3%) evaluated the current U.S. economy as “fair,” up from 80% in April. None of the respondents evaluated the current U.S. economy as “poor,” down from 6.7% last month.

Most of the survey respondents (60.7%) believe U.S. economic conditions will get “better” over the next six months, a decrease from 73.3% in April. Meanwhile, 39.3% indicated they believe the U.S. economy will “stay the same” over the next six months, an increase from 23.3% last month. None of the respondents believe economic conditions in the U.S. will worsen over the next six months, down from 3.3% last month.

In May, 53.6% of respondents indicated they believe their company will increase spending on business development activities during the next six months, up from 46.7% last month. In addition, 42.9% of respondents believe there will be “no change” in business development spending, a decrease from 53.3% in April. Only 3.6% of respondents believe there will be a decrease in spending, up from none of the respondents last month.

“Near-term, the high level of liquidity generally available will continue to drive investor demand in our primary sectors,” Glenn Davis, president and CEO of RESIDCO, said. “A major concern over the short to intermediate term is the potential inflationary impact associated with that along with corresponding market pressures, which may adversely impact interest rates.”

 

Technology and Business- Growing Your Law Firm

Have you considered the many benefits that customer financing programs leverage for your sales organization.   Call today to learn more about Dimension’s creative and innovative funding programs that enable your clients to access an affordable strategy for acquiring all of the products and services you sell.  

Historically, law firms hadn’t dipped their toes too deep into the remote work waters. But even as firms are coming out of the pandemic, they’re starting to see those same remote work benefits quite clearly—particularly in the midsize market. As part of The American Lawyer’s Am Law 200 coverage, Ben Seal explored how midsize firms are utilizing remote work as an increasingly greater part of their strategy, leveraging technology in new ways to expand geographically, appeal to new clients and automate services. In order to grow, notes law firm consultant Brian Kennel, “What the midsize firms have to do is to take advantage of this new world we live in now.” For those firms’ tech partners, it also means an obvious opportunity to not only aid midsize firms’ day-to-day operations, but to actively help drive business development and growth. I know from experience, tech can help drive win-win propositions when it comes to remote work. Technologists should be putting on their business hats to help figure out how.

– Zach Warren, editor-in-chief, Legaltech News

Post Pandemic Challenges

Managing through change created both new challenges and opportunities for midsize law firm leaders during the pandemic. Three of the biggest identified by firm leaders included i) a renewed focus on profitability; ii) a shift in the operational support model; and iii) increased expectations — from lawyers, staff, and clients — around technology.   Isn’t it time you incorporated a proactive financing strategy to help your clients account for each of the specific issues that the legal market themselves have identified? Call for details today, Dean Morrison, 954-224-3390

After challenges of 2020, midsize legal market eyes growth opportunities in 2021

Accountability and ROI: Building Cybersecurity into Your Budget

“If law firms intend to minimize the risk of a successful attack, they must accept cybersecurity as an ongoing, evolving, relentless effort that requires diligence and discipline. And they have to throw more money at it, too.” Accountability and ROI: Building Cybersecurity into Your Budget

The idea of “throwing money” at technology investment is a concept that has reached its expiration date! There is no reason to use precious working capital reserves or even disturbing bank credit lines to move forward with necessary upgrades to your technology infrastructure inclusive of cybersecurity systems.  Call me to discuss how you can easily make your products and services more affordable to your law firm clients to give them an easy path to moving forward today!

New Report: Manufacturing Economic Activity Increases in April

Timothy R. Fiore, Chair of the ISM Manufacturing Business Survey Committee, in a news release, commented, “All of the six biggest manufacturing industries — fabricated metal products; chemical products; food, beverage & tobacco products; computer & electronic products; transportation equipment; and petroleum & coal products, in that order — registered moderate to strong growth in April.”

Read More Here. We're here to help you make your solutions more affordable. Help your customers scale up and invest in more manufacturing automation to stay ahead of the competition.