One of the most significant changes will be the move away from a hardware-concentric model to one of financing implementations. These changes will allow technology equipment lessors to extend client relationships through expanded service offerings and provide companies with a cost-effective means of keeping up with rapidly changing technology needs. To compete, smaller lessors will need to find a market niche, offer more value to customers, use new technology to their advantage, and take risks with service providers and software and services financing. The Internet is an essential businesses tool that enhances customer relationships and reduces the costs of business practices. New economy lessors must be prepared to finance non-traditional products and offer innovative programs to serve new economy clients.
Partnerships are key to increasing revenues.
To represent all the requirements of the Internet-based economy, lessors will need to build numerous vendor relationships and diversify their businesses. The lines between technology leasing companies and capital equipment leasing will blur as customers' requirements evolve to a total leasing and service offering rather than solely equipment leasing. Lessors must anticipate and be prepared to jump into new technology markets with growth potential. Lessors should look to nontraditional partners and sources of funding, and expand their scope of lenders by working with multiple funding sources. Global reach will become the key to success in this market.