Impact of HaaS Providers for POS Hardware Resellers
Every day, organizations across the country are relying on their hardware — from AIDC to mobile computing and payment technology — to make their operations run smoothly, their businesses more profitable, and their customers more successful. Clearly, your role as a POS hardware reseller matters more than ever.
Whether it’s a retailer, a manufacturer, a healthcare organization, or any one of the countless other industries that makes use of enterprise hardware for payments, operations, and so on, it’s safe to say that the hardware market is alive and well in today’s connected world. Hardware plays such an important role in companies’ operations nowadays that without it, some organizations simply would not be able to do what they do.
As a provider of that hardware, you have a distinct opportunity to ensure your clients achieve their goals. With the sheer amount of work taking place in today’s markets, the need for hardware to automate key functions, provide instant cataloging and reporting on inventory levels, process a variety of payments in new and complex ways, and better communicate with customers throughout the world has never been greater.
Simultaneously, the need for organizations to remain cutting-edge with their enterprise hardware has never been greater. This is particularly true for retail organizations, who are looking for POS hardware resellers such as yourself to provide them with trendy, up-to-date, and efficient payment solutions for their savvy customers who have very distinct preferences.
Now more than ever, POS hardware resellers need to have a solution in place that not only helps them meet their customers’ growing — and changing — demands for different types of payment technologies but also puts them in a strong position to compete and grow. Hardware-as-a-Service (HaaS) from River Capital Finance is one such solution. Similar to other “as-a-service” solutions, HaaS provides resellers with a solution for helping their customers succeed faster, for less expense, and faster return on investment. Let’s explore a few ways that HaaS can make your POS hardware reseller business more successful.
How HaaS Helps POS Hardware Resellers
1. You Gain Better Account Control
Hardware-as-a-Service from River Capital Finance starts with a contract. These agreements typically start at three years but can be set for longer periods. By establishing this master agreement with your clients, you gain greater control over the relationship. The client is under contract with you, which keeps you in communication with them. Should their needs change over time, they simply need to inform you of what they’re looking for, and the master agreement can be updated.
Because their hardware is under contract, once the time comes for renewal, you’ll be front and center with their team. You can review the performance of their hardware to see what worked and what needs to be updated or replaced, and you can work with them on a new hardware solution for the next three years. Because HaaS provides end users with so many immediate benefits, it is more than likely that your customers will want to remain with you to enjoy new hardware for the next length of their contract.
2. Hardware Refresh Cycles Are More Predictable
As a POS hardware reseller, the last thing you want is for a customer to purchase a one-time hardware solution from your organization and then disappear. First, this is a disservice to the customer — their hardware is, over time, going to need more maintenance in order to provide value. Second, they may lean on you heavily during this time for that support when your organization can potentially generate more revenue from newer opportunities.
It is to your advantage to provide your clients with a more frequent and beneficial hardware refresh cycle. This ensures their hardware continues to operate well for their organization while also generating more revenue for your business. With more frequent refresh cycles, your organization also does not have to manage the influx of repair or support requests that might come with older, outdated hardware.
3. Your Deals Close Faster
Whereas other hardware opportunities rely on the customer to secure a sizable upfront investment in order to purchase hardware, HaaS has no such requirement. Your customers simply need to work with you on their hardware needs, and River Capital Finance and your organization can identify the solution for immediate implementation. There’s no need for your organization to manage the significant amount of detail involved in sourcing new hardware, providing options, conducting research, and so on. Everything is managed for you.
Naturally, this increases your revenue over time by helping you close more deals faster. Your sales cycle is shortened dramatically, freeing up your sales resources to focus on new opportunities as well as connecting with current customers to determine if they have any additional hardware needs. With your team freed up to focus on these other revenue-generating initiatives, your sales volume has the potential to increase exponentially.
4. You Preserve Your Margins
As a POS hardware reseller, anything beyond the initial sale will eat into your margin on the hardware you provide to your customers. Any requests for support, service, and so on requires time and resources from your team, which in turn results in costs to your organization. With HaaS, you are effectively selling new hardware to the client while still connecting them with a more frequent refresh cycle. Your margins remain unaffected, and you can continue to sell new devices to new clients.
5. You Develop a Competitive Advantage
While there are many POS hardware resellers available for companies to engage for their hardware needs, not all offer the benefits of hardware-as-a-service for their clients. Only HaaS provides frequent refresh cycles, complete analytics and support, and the long-term financial benefits of faster ROI and lower total cost of ownership (TCO). HaaS presents an opportunity for your organization to distinguish itself from others competing in your markets and regions and connecting your customers with these benefits while accelerating your growth and success.
Grow Your POS Hardware Reseller Business with River Capital Finance
For more than 30 years, River Capital Finance has helped its partners and customers get the technology solutions they need to achieve their business goals. With more than 1,000 financial agreements in place, we’ve been privileged to help some of the top-performing companies in industries around the country with their hardware needs. If you’re ready to take your business to the next level, we’re ready to help. Fill out the form below to get started.