Unlocking public sector
potential
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Why finance
the public sector? In the Nordic region, we see it as a growth
opportunity. Public sector leasing grew 41% in Nordea Finans
Sverige in 2009, compared to a contraction in corporate finance.
Outright buying is going to reduce.
In Sweden, public sector leasing is
worth €1.2bn, and in Finland it is €800m. The most commonly leased
assets are buses, construction, energy, medical, trains, and water
equipment.
To be competitive it is important
to learn about the legislation and to understand the procurement
set up. In Sweden, there is a big difference between working with a
small municipality in the north and the city of Stockholm. There
are the local rules and regulations, as well as European Union
directives.
At Nordea we have a specialised
sales force, with a relationship manager in the bank and
specialists developing the offering. Often we are negotiating
through procurement consultants, which are getting bigger and
bigger.
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By GlobalDataConsultants, procurement companies
and trade organisations are all an important part of the sales
network. In the public sector, it is also important to bring the
vendor into the relationship.
As budget constraints come more
into force, the cost of use and total cost of ownership is more
important than the investment budget.
Product development and finding new
ways of leasing is vital. Today’s business is a lot of buses, cars,
energy, power plants, and waste. But products and offerings are
developing. For example, asset life cycle management solutions,
especially for ICT and medical equipment, have worked well.
Service elements include an asset
register, reporting, recycling, and cost management.
The future of public sector leasing
could be that we lease an old people’s home, rented by number of
beds. The package might include real estate, medical equipment and
medical operatives; and then a menu of other products and services
to choose from – a jacuzzi, entertainment solutions, or catering
services perhaps.
Schools and kindergarten packages
could follow the same route with real estate, temporary buildings,
solar panels, and ICT infrastructure.
Legislative knowledge, distribution networks and sales
expertise, and product innovation, are how to unlock a sustainable
business in public sector leasing.
Susanne Petersson is CEO
of Nordea Finans Sverige
