differentiate themselves from their competitors by demonstrating a
customer-centric offer, according to Bret Thomas, Xerox Financial
Services’ managing director.
For Xerox, bundling means integrating everything – pricing,
risk, documentation, how you bill, how you collect – into an
all-encompassing value-proposition, said Thomas, speaking at the
AFD event.
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“In our case, customers have a basic need – they are looking for
a total cost of ownership. They want a complete solution with the
absolute lowest cost. They don’t want to acquire the solution; they
want to use the solution, under one payment,” he added.
To achieve this, Thomas presented three factors that he thinks
are necessary. First, provide a total solution which can be
achieved either as a company or through partnerships. “It’s not
about how you sell it, but how the customer looks at it,” said
Thomas. “The customer wants a single payment stream, so you have to
be able to control it, to price it, to offer it.”
Second, good administrative capability must be in place. “You
have to simplify the whole experience by developing excellent
pricing mechanisms and having simple documentation,” said Thomas.
“You cannot have different documents for leases, service, and
maintenance – there needs to be an integrated approach.”
Thirdly, pricing needs to be transparent. “If you promise a
bundled solution that is the lowest cost of ownership, it needs to
incorporate every known and hidden cost,” Thomas said.
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By GlobalDataThis, Thomas believes, does not only fulfil customer needs, but
is also an effective risk strategy as careful equipment monitoring,
and payment integration, can act as early warnings of growing
delinquencies.
Jason T Hesse
