Moving Tactics, a digital signage company founded in Cape Town, South Africa, in 1997, announces the launch of a rental finance division.
The company says it has been seeing increased calls for financing solutions for digital signage equipment, and so it decided to take on the financing itself in-house.
“Clients have been asking us for a financing solution for many years and we felt now was the optimal time to launch our Moving Tactics rental finance division,” says Chris Day, the company’s managing director. “Businesses of all sizes are under strain financially and with the fluctuating Rand/Dollar exchange and unpredictability of the international trade environment, we wanted to provide our clients with financing solutions that would allow them to install the latest equipment and maintain that standard for years to come without having a massive once-off capital outlay”.
Jacqui Wright and Sam Dippenaar will be the pair running the division. Moving Tactics says they have years of rental finance experience and will run the division in line with international standard practice.
“South Africa has caught up with the international trend to finance technology,” says Wright. “With approximately 80 percent of global businesses financing their technology investment, it has become the norm to remain up-to-date with industry advances whilst preserving cash flow. There is simply no excuse left to be behind with inferior infrastructure.”
Dippenaar outlines some of the other advantages of participating in the program. He says it will help with effective cash flow management; the technology will always be under warrantly and replaced every two to three years; there are no hidden costs or a deposit; the financing is 100 percent tax deductible; and it’s an off-balance sheet expense.
“Especially for franchisees, an outlay of capital for a digital signage installation can be almost impossible, so the rental finance option has proven popular,” says Day. “It provides them with flexibility and peace of mind knowing that they have the latest technology installed in their store; and that will be replaced every two to three years, which means it remains under warranty. It really is a new way of doing business for the digital signage industry here in South Africa.”