Replatforming Series: Know Your Payment Options

Replatforming Series: Know Your Payment Options

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  wwwwww..bbllyytthheecoc.oco.cmom Are YouReady for Replatforming? Webinar 6: Know Your Payment Options
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  Agenda Recap: Whatis Replatforming? Definitions – What are the major payment types? Pros and Cons of each Where do they fit? Next Steps and resources for today
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  Introductions Alicia Anderson Strategic Marketing Atlanta, GA-based 19 years in ERP/CRM sales, service and marketing
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  Introductions Mark Grimes Dimension Funding Based in Irvine, CA since 1978, Works with companies like yours across the U.S. to provide lease financing solutions to help small to medium sized companies grow their business.
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  What is replatforming? Moving to automation for the first time. Transitioning to a new system. Upgrading an existing system. This series is designed to give you the tools and knowledge needed to make ERP/CRM transition smooth and minimize risk. Industry analyst Mint Jutras reports that 73% of surveyed companies said that “management driven change was requiring moderate to substantial ERP change”
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  The Series SeriesIntroduction – May 7 How to Build a Business Case – June 4 How to Scope Your Project – July 9 How to Evaluate Solutions and Build Your Evaluation Committee – Wednesday – August 6 Cloud vs. On-Premise – September 3 Know Your Payment Options - TODAY
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  6 Know yourpayment options
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  Pros Fast payment No interest No obligation Bargaining power Cons Depletes business capital Does not fight inflation Limits technology to run your business Can create cash flow issues Cash
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  Pros Easy approval Promotional rates Unsecured Fast Cons Charge fees to payee High interest rates Variable Personal Credit is at risk Hidden fees Credit Cards
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  Pros Once approvedhas lowest variable rates Great for short term borrowings Improves cash flow Cons Usually needs to be renewed annually Variable Rate Financial reporting needs to be done to bank once a year Bank approval before additional borrowing can happen. Usually has a lien against all assets of business Reduces available credit & limits future borrowing ability. Bank can call note Line of Credit
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  Pros Creates lowcost of software with monthly payment Minimal infrastructure Minimal maintenance Updates without additional cost Cons Implementation costs not included No ownership If subscribed longer than 3 years can typically be more expensive than purchasing Subscription
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  Pros May includemaintenance and professional services Fixed rate Creates better cash flow No security interest in borrowing entity Fights inflation Reduces Obsolescence Tax advantages Flexible re payment options May have more customized software Lower cost of entry Quicker Turnaround Cons Interest costs Set obligation Early termination Over extending No equity Financing or Leasing Options
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  In summary… Onesize does not fit all Map the TCO over the life of the system Understand the priorities for your business Question the assumptions about each option
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  A Quick AudiencePoll… Does your business currently use any of the following funding sources? Cash Credit Cards or Line of credit Subscription model Financing/Leasing None
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  Resources for today’sclass Available on http://info.blytheco.com/replatform-resources Link to the Calculator Copy of this presentation Resources from previous classes For more information, questions, or comments please email or call: Mark Grimes, mgrimes@dimensionfunding .com 949-608-2249