BNP Paribas Leasing Solutions has turned to cloud-based subscription management platform Zuora to offer usage-based solutions for professional equipment.
The tie-up will see BNP Paribas Leasing Solutions leverage Zuora to enable its partners to offer new usage-based solutions to their clients with customised invoicing that factors in how and when the equipment is used.
The new services aim to provide a sustainable approach by prolonging equipment’s lifetime, cutting upgrade costs and supporting the purchase of used and refurbished machinery.
The French leasing firm is backed by a leading bank and provides equipment financing services across 20 nations.
Initially, BNP Paribas Leasing Solutions will launch the usage-based offerings in France and Germany, with plans to expand across Europe.
BNP Paribas Leasing Solutions CEO Isabelle Loc said: “As the Subscription Economy expert, Zuora is the ideal partner to combine an offer with our equipment finance expertise. Their innovative and evolutive platform will allow us to provide flexible financial solutions, constantly adapting to the actual usage of the equipment.
“Our future financing offers will be driven by the equipment consumption and optimisation through additional services such as maintenance and lifecycle management. This will help companies deliver on their core business while closely managing their budget and quality of service to their customers.”
Zuora president and chief revenue officer Robbie Traube said: “BNP Paribas Leasing Solutions, an established European leader in equipment finance, is now at the forefront of financial services transformation as they embrace the Subscription Economy with new monetisation strategies.
“Now on Zuora, BNP Paribas Leasing Solutions will have the flexibility and agility to make critical equipment more accessible and tailored to companies’ individual needs, all while providing more sustainable options.”
In April this year, BNP Paribas Leasing Solutions selected Ritchie Bros Asset Solutions to help manage its international asset valuation and management workflows.