Customer Payment Plans For Compliance Software Companies
Whether it be streamlining the process of creating records, maintaining records, or providing reporting capabilities - compliance software is often non-negotiable for those in certain industries.
In this blog post, the team here at Multipli (who offer compliance software financing, among other business payment plans for software companies) explore the industry and how to drive more sales of your compliance software.
What is compliance software?
Compliance software is a type of technology that helps organizations meet regulatory requirements and maintain their compliance with industry standards and laws. This type of software helps automate and streamline the compliance process, making it easier for organizations to manage their compliance obligations and reduce the risk of non-compliance. Compliance software covers a wide range of industries and regulations, including data privacy, health and safety, financial regulations, and environmental standards.
The main purpose of compliance software is to help organizations stay compliant with regulations by providing tools and resources that support their compliance efforts. This may include features such as policy management, risk assessment, incident reporting, and data management. The software can help organizations stay on top of regulatory changes, track their compliance efforts, and monitor their performance over time. By using compliance software, organizations can ensure that they are meeting their regulatory obligations and reducing the risk of financial, reputational, and legal consequences that may arise from non-compliance.
Compliance software can be expensive, non-compliance penalties even more so.
Benefits of offering compliance software financing if you're a compliance software vendor
Offering your customers compliance software financing (through Multipli) can help you achieve better sales outcomes and enable customers to spread payments out over time.
Why is this important? This makes it easier to manage your cash flow, as Multipli will pay you the full value upfront, while taking ownership of the collection of the regular payments. Financing also allows your customers to start using the software right away, rather than waiting for additional budget or approvals, which is a key value proposition to those customers looking to purchase compliance software.
Other benefits include:
- Accessibility: Offering vendor finance on compliance software can increase accessibility to the technology, especially for small and medium-sized businesses that may not have the upfront capital to make a large purchase. This can help expand your customer base and drive sales.
- Improved Cash Flow: By providing financing options, customers can pay for the compliance software in installments over time, providing fast up-front revenue for compliance software companies.
- Competitive Advantage: Offering vendor finance can also differentiate you from competitors and give you a competitive advantage in the market.
- Reduced Risk: Compliance software can be a significant investment for many organizations, and by offering financing options, you can reduce the financial risk for both parties and help build trust with your customers.
- Faster Adoption: By making the compliance software more accessible and affordable, you can help organizations adopt the technology faster, which can lead to improved compliance and reduced risk.
Why use Multipli as your compliance software financing partner?
We help give your sales team an edge; using business payment plans curated specifically to help your sales team close deals and win customer satisfaction.
We offer non-standard payment terms, outside of 90-day cycle; we help you appear flexible, eager and willing to work around your customers and their bespoke payment term needs.
We help you accelerate pipeline and cash flow; remove the standard barrier to conversion with payment plans that accelerate deal sign off and in turn cash flow into your compliance software business.
We take the risk of collections on, not you; at Multipli, we pay you upfront, and take on the risk of regular collections from your customers ourselves.
We help you stop discounting deals; losing deals to sign off thresholds will become a thing of the past, with bespoke payment plans to ensure rapid compliance software sale closure.
We help you convert large annual costs into manageable payment plans; fixed licensing fees are not the vogue right now. Customers expect pay-as-you-go or SaaS type plans instead of large upfront costs.
Our process to sign up is easy; simply contact us or visit My Multipli to begin fast accreditation to offer Multipli vendor financing options.
So you’re ready to discuss vendor financing options for your compliance software
In conclusion, using Multipli to offer vendor financing for compliance software sales can provide numerous benefits for both vendors and customers. By providing financing options, vendors can increase sales, improve cash flow, and gain a competitive advantage in the market. At the same time, customers can benefit from improved accessibility and reduced financial risk, making it easier for them to adopt and comply with regulations. Multipli can help streamline the financing process and provide a seamless experience for both parties, making it a valuable tool for vendors looking to offer vendor financing on compliance software sales.