SIEMENS


Finance made easy


Kathryn Vassilissin, Siemens Financial Services (SFS) explains how vending operators can create opportunities for customers and drive investment with integrated specialist finance.


Automated Retail Association (AVA) census showed that operators are now collecting data from almost 60% of machines via telemetry or handheld devices. 1 Telemetry offers a range of benefits through remote access to machines. Operators can easily change ads, pricing & promotions, as well as save time digitally monitoring and restocking machines. It also offers access to a wealth of data that can track use and improve uptime through early detection of faults. The potential for increased efficiency and boosted sales is self-evident. Cashless too is a fast-growing phenomenon changing the way operators and consumers interact with machines. Most machines (65%) now offer cashless options and the vast majority of transactions (72%) are now cashless. 2 Not forgetting of course, the rapid rise of micro-markets – the new


V


hybrid approach to the in-office canteen provision. There are an estimated 480 micro-markets in the UK, five times more than just five years ago, 3


and we have one of our own to show for it at the SFS


offices in Stoke Poges. These shining examples of digitalisation do however pose a few challenges for vending operators. On the one hand, operators may be navigating the daunting prospect of modernising legacy equipment. On the other, there are the associated cost implications of transformation, and this is true for both customers and operators when upgrading equipment or investing in new machines. In both cases, rising inflationary pressures are a growing concern placing greater strain on operators’ cash flow. 4


14 | vendinginternational-online.com


ending has been quietly riding the digitalisation wave for some time now. There’s been a dramatic change in the way the sector uses data, for instance. The 2022 Vending &


HOW INTEGRATED FINANCE WORKS FOR YOU One of the current debates around modernisation in vending is the replacement of glass panes for digital screens and whether customers buy with their eyes. But in either scenario, it comes down to wanting to know exactly what you’re getting. This is true for vending operators as well as their customers. To illustrate how integrated specialist finance can work,


here’s an example of a typical relationship with an independent vending and refreshment company we worked with in the midlands. The management team wanted to create more opportunities for customers by offering finance at-point-of-sale. Given its 20 years of experience in the sector, SFS was quickly able to understand the value of the vending company’s proposition and proposed a range of integrated sales financing solutions tailored to a small business and with a diverse customer base. As well as finance, SFS supplied access to its suite of digital tools which enable the operator to take control of its finance offering and rapidly generate quotes for customers. The company can now offer customers a comprehensive


range of financing solutions to suit their needs. Thanks to the digital tools, the vending operator can get a decision on a deal within seconds. The team continue to work with their dedicated account managers who are always available by phone to explore options and share their expertise. This is just one example of how delivering a consistent and


reliable finance service has helped an operator to rapidly grow as a business.


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