How the Leasing Industry Should Prepare for the Next Chapter

We live in a fast-moving world, where customers’ needs are changing demanding for new types of business models. Customers’ needs are evolving away from the traditional concept of equipment ownership, toward a more fluid model where they have ‘just-in-time’ access to equipment at the moment it is needed. In a recent podcast interview with The Alta Group, Tom Meredith, CCO of DLL, discuss key insights and trends in equipment and technology financing.

In order to continue to be effective for its customers going forward, the leasing industry must evolve and follow this transition. Customer centricity is therefore key to future success. Customers’ desires and needs should pave a company’s future direction.

The leasing industry must figure out how to meet those needs. According to Tom Meredith, flexibility and ease of doing business must lead the way and will tremendously change what leasing companies offer, how they offer it and how they go to market in the next 5 to 10 years.

Today’s customers’ needs require different finance solutions. Leasing companies must keep pace with this changing landscape in order to stay relevant and continue serving the market. The biggest trend evolving over the next 5-6 years is the usage-based model along with bundling of financing and services says Meredith. “Cookie-cutter solutions are out. Customer- centric service that makes it easy for customers is what will differentiate providers going forward.”

In the interview with Jonathan Fales from the Alta Group, Meredith dives into these customer centric business models and shares initiatives DLL has taken to successfully get there.

Listen to the full podcast now.