FirstCorp Helps Security System Integration Vendor Record More Sales of DVR Equipment

For more info, contact:

Brian Cascarano
Vice President of Marketing
(847) 663-6700

bcascarano@
ifccredit.com
The nation’s largest privately held security system integrator is relied upon by hundreds of banks and financial institutions to ensure their security.  And when these premier customers asked for affordable equipment leasing solutions, the vendor relied on FirstCorp.
Among many services, the vendor installs closed circuit cameras and detectors, along with digital video recording systems to keep video archived. These closed-circuit security systems play a large role in protecting bank assets.  As these banks and institutions are mostly “A” credit borrowers, the vendor had a lot of options when choosing an equipment leasing partner.
After weighing the alternatives, the vendor chose Firstcorp.  “We chose FirstCorp because they are small enough to work hard for every job, yet large enough to be able to provide a sales team that covers every base for my people, making a lease option a much easier option than what we have experienced elsewhere,” said the vendor's Executive Vice President of Sales.
“Even through we have been around for awhile, we strive to treat every customer like they are our only customer. In the vendor's case, that meant attending and providing support at national conventions, and developing one-on-one relationships with their sales staff,” said Doug Ogden, FirstCorp Business Development Manager.
The arrangement is a win for the vendor's sales team and its customers. Many financial institutions prefer to lease security equipment over purchasing, because it allows them to keep their systems flexible and up-to-date. Offering a lease through FirstCorp has allowed the vendor to meet that need, opening doors to new customers and providing new solutions to existing ones. Leasing also helps the vendor to sell more equipment, as more equipment can be acquired for the same monthly cost as compared to a purchase.
But in addition to these benefits, the ability to lease equipment has assisted the vendor in another key area, which is to manage the future purchases of existing customers.  Keeping lease agreements allows their staff to know when customers will come off-lease, needing an equipment upgrade. At this point, the vendor is able to offer a new leasing solution to the customer, and this cycle can increase the lifetime value of a customer dramatically. Under a lease, the customer will not only purchase more equipment, they are more likely to remain with the vendor, because the vendor can offer a new solution at the exact moment the customer has a need.
For the vendor's customers, the FirstCorp leasing experience makes acquiring equipment easy. Consider a purchase decision: How much cash to outlay? What is the cost of accounting for and depreciating the equipment? How much will insurance cost for the equipment and which policy is that added to?  What is the useful life of the equipment? When will the system be too outdated compared to future technology and require an upgrade? When an upgrade is needed in the future, how is the old equipment remarketed? 
With a lease, these questions are all answered.  The equipment and installation have an affordable fixed monthly payment. FirstCorp can provide insurance if desired. The equipment has a planned lifespan and upgrade cycle, and when the upgrade is made, the same monthly payment can be sought. The old system is removed without worries, and the new is installed. 
Getting a lease is also easy for the vendor's customers. For most transactions, only a brief application is needed, and the customer is greeted with approval in under 48 hours. The result is a smooth transaction with clear terms and benefits.
John Estok, Vice President of FirstCorp, says “In the case of this vendor, and in many others, FirstCorp’s leasing solutions make it easier for companies to sell their products, and for their customers to acquire them.”