31 Mar 2010
Wireless Logic Introduces First Managed Finance Service for the M2M Industry
Wireless Logic Introduces First Managed Finance Service for the M2M Industry
Wireless Logic M2M Airtime Finance launches tailor-made alternative to leasing; competitive finance for airtime, connectivity, hardware and software
Wireless Logic M2M Airtime Finance launches tailor-made alternative to leasing; competitive finance for airtime and connectivity, alongside hardware and software requirements
M2M airtime contracts with finance
London, 31st March 2010 – Wireless Logic (www.wirelesslogic.co.uk), the UK’s leading independent M2M connectivity supplier, is today launching Wireless Logic Airtime Finance; an industry first opportunity for companies to gain managed financial support to fund M2M applications and an alternative to traditional finance deals. For the first time, companies will be able to bundle connectivity together with hardware and software costs, into one airtime contract.
Traditionally, customers looking for a complete connectivity solution would need to source funding for hardware and software separately to the airtime contract which would often result in multiple relationships and a complex billing structure. Wireless Logic Airtime Finance offers M2M customers the ability to offer customers a ‘one-stop-shop’; offering a tailor-made airtime tariff, alongside a fully financed hardware, software and connectivity contract, based on individual needs, business model and financial circumstances.
Says Philip Cole, Sales Director and Co-Founder, Wireless Logic: “Constraints within the technology industry have, until now, made it difficult for companies to package airtime in with big procurement deals. For those seeking leasing agreements via their systems integrator (SI), end users are often faced with multiple bills, from multiple suppliers; a headache for both customers and SIs to manage.
“We’ve removed several layers of complexity so that now SIs can come to Wireless Logic for a total solution inside one agreement which will deliver up front finance for all hardware, software, airtime and management needs; all managed by one provider. Coupled with this will be an ongoing monthly revenue rebate, enabling a regular source of income for the duration of the contract.”
The last twelve months have seen companies struggle to broker satisfactory finance deals with traditional sources such as banks and finance companies. Wireless Logic’s Airtime Finance option has been designed to offer companies an option to source and fund all their requirements centrally and directly from their technology partner.
Under the terms of its Managed Finance solution, Wireless Logic customers can now benefit from a competitively priced airtime tariff across three, four or five years, with an additional monthly revenue-sharing model. Customers will have the choice to receive a lump sum up-front or to stagger payments over a period of time – giving them valuable liquidity as their business grows and in turn protecting the banks with safer business.
Philip Cole concludes: “For many of our systems integrators, and their end-user clients, this ‘off balance sheet’ model is aimed at a key part of the market for which, to-date, traditional M2M airtime contracts were not appropriate and could not be fulfilled. Wireless Logic has successfully created a model that combines an airtime and equipment, in one simple deal. Our airtime rates will be at least comparable but, in many cases, even more competitive to existing leasing options and, as an equity stakeholder in the delivery of the service with our customers, this model is being well received.”
For more information, call Wireless Logic’s Managed Airtime Finance team: 0844-8044111 or visit http://www.wirelesslogic.co.uk/go/services/other-services/managed-finance-services.
