For this west-coast provider of pharmacy software solutions, maintaining a robust technology profile is a critical driving factor for their business – and a significant challenge as well. From managing company computers to the server infrastructure, the internal IT team has their hands full.
Historically, the company purchased equipment outright. As certain pieces neared the end of their useful lives, the IT team would approach the Purchasing department with acquisition requests, which created unpredictable budget spikes. Company executives considered whether leasing would be a more cash-flow-friendly strategy to managing these ongoing technology investment needs.
First American customized a fixed-rate financing package to meet the client’s needs. Certain aspects of the project required deposits, so First American provided installation period financing – keeping the project moving forward without requiring an upfront cash outlay from the client.
With assets spread across multiple locations, the company was concerned about managing the lease. CustomerConnect – First American’s online asset management system – provided the perfect answer. Asset tags allow the client to simply scan a barcode which immediately retrieves relevant lease documentation. The client can also export data into their general accounting software for additional insights and management.
Incorporating leasing into their equipment acquisition strategy has allowed the client to stabilize cash flows. Instead of experiencing budget spikes, the company now pays a low, predictable monthly payment over time.
First American’s easy and efficient process has allowed the company to acquire the assets they need, when they need them. As new equipment needs arise, the client just sends the vendor quote to their dedicated Project Manager, who handles the entire ordering process and vendor management. Customized invoicing incorporates multiple leases on a single invoice to minimize any potential administrative burdens. This streamlined process allows the company to return their focus to delivering industry-leading expertise and innovation to their pharmacy clients.