Jürgen Mossakowski, chief executive for CHG-Meridian Group, looks at the year's results in Germany and considers strategic plans for 2017.
The member companies of the BDL (Federal Association of German Leasing Companies) will acquire approximately €64.2bn (£53.66bn) worth of new business in 2016, resulting from the asset categories intangible assets, machines, vehicles, office equipment & IT systems and other sectors.
This corresponds to growth of 9% year-on-year and states clear: the German leasing industry is booming. This is mainly due to the sector of equipment leasing, especially road vehicles proved to be an important growth driver for the entire industry. While the overall figures show significant growth and new records in terms of new business, this should not distract from the fact that the area of office equipment and IT systems had to post a significant decline of approximately 10% compared to a stagnation in 2015.
The question therefore is, how can we as members of the IT leasing industry take the right countermeasures? We have to acknowledge that customers do expect more than just plain-vanilla financing in this sector. Office communication and IT is becoming more and more complex and our customer do wish a reduction of complexity. This can only happen, if we as the leasing industry will take over responsibility for innovative solutions and services that do combine financing and service to a full management of technology investments. The industry has to adapt its business model to these market trends.
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