As I reflect on the first half of 2020, I cannot help but think about the strength of our partnerships and how we have been able to grow stronger together despite a global pandemic.
Last year was an impressive year for DLL Commercial Finance. While 2020 has brought us many unexpected challenges, we are proud to say we are still growing and committed to advancing and enhancing our partnerships.
So far this year, we:
- Continued to expand our @OnceFinance partner financing portal on a global level. Most recently, it was launched in Spain, Portugal, Italy, and France, with development underway in Benelux and Germany.
- Increased inventory finance solutions within the healthcare and clean technology industries to support stocking distributors and large end users.
- Developed or grew global programs with food and agriculture vendors including MacDon, Syngenta, Corteva, and Verdesian.
- Broadened offerings into new asset classes, including RVs, consumer electronics, and marine.
- Continued to experience a modest, but steady, year-over-year increase in new business volume, despite a challenging economy.
- Were recognized by the Monitor as the top vendor finance provider in its 2020 ranking—a standing we’ve held for over 10 consecutive years now.
We could not have done this without the support of our partners and customers.
At the same time, I recognize the coronavirus pandemic has greatly changed the world in which we live. Over the past few months, I have had conversations with our manufacturer partners, vendors, and dealers to learn how their businesses have been impacted, what their plans are for the future, and how DLL can help. Through these discussions, I have identified three commonalities that have been critical to navigating fluctuating markets:
- Extended-term solutions to preserve cash flow
- Real-time, integrated access to credit line information and recent transactions
- Sophisticated cybersecurity operations and secure data transmission
We have been working closely with manufacturers and suppliers in North America, including technology manufacturers like Intel and Lenovo, to offer extended-term financing to their resellers to protect cash flow during the coronavirus pandemic.
We invest heavily in our technical infrastructure and continue to operate using the most current versions of vendor-provided operating systems, DLL proprietary systems like @Once , and database software as well as comply with security measures and policies designed to protect our partners’ data. As a European-owned company that operates worldwide, our security measures demand that. We also offer seamless API and EDI functionality within @Once to provide resellers with an integrated experience when purchasing from manufacturers and distributors. Enhancing our systems will continue to be a priority within our organization.
We know it has been a difficult and unprecedented year, but DLL is grateful for the continued support from our partners and customers, and we remain here for you every step of the way.