As the pace of change in the food and beverage industry continues to accelerate, it becomes increasingly important to maximize efficiencies. Today, the industry is turning to big data to expedite supply chains, automate processes, and learn more about customers and consumers.
Investing in big data strategies has caught the attention of leaders because of its ability to enhance the relevance of their product mix and identify areas of growth or inefficiency. It also allows them to keep eyes on the next innovation opportunity and stay ahead of fluctuating trends. For these reasons, many forward-thinking food and beverage companies choose the flexibility of leasing their equipment to stay ahead of big data computing demands.
“Despite the many advantages, exploring and implementing an entirely new approach to data and analytics can be a daunting project; not to mention hard on your bottom line,” said Heather Ayers, Senior Vice President at First American Equipment Finance. “Leasing your systems and software – and even the new hardware they will run on – could be the right mix of flexibility and strategy for your company.
Utilizing an equipment leasing strategy can allow a flexibility you may not find through traditional avenues like a bank. For example, many vendors require milestone payments during the installation period of a project. A company with expertise in installation period financing can help to kick-start your project and keep your business moving forward. Additionally, finding a finance option that also offers project-specific management will allow you to simplify coordination among multiple vendors and service providers. Finally, the ability to finance the soft costs included in software implementation could be the difference you need in order to push your business to the cusp of the best food and beverage developments and trends.
Discover the custom financing solutions First American can provide to fund your systems and software projects.