Investing in RFID Tracking Solutions: How Vendor Financing Can Help Logistics Businesses
Radio-frequency identification (RFID) tracking solutions are transforming the way logistics businesses operate, providing real-time visibility into inventory, assets, and shipments. However, the upfront costs associated with implementing RFID technology can be a barrier to adoption for some businesses. That's where vendor financing comes in. In this article, we'll explore the benefits of RFID tracking for logistics, the growth and opportunities in Australia, the United States, the UK, and Canada, and how vendor financing from Multipli can help businesses overcome upfront costs and close deals.
The growth of RFID tracking in logistics
RFID technology uses radio waves to automatically identify and track objects, allowing logistics businesses to improve inventory management, reduce operational costs, and enhance supply chain visibility. According to a report by MarketsandMarkets, the global RFID market is expected to reach USD 40.7 billion by 2030, at a compound annual growth rate of 13.2%.
According to Procedia Computer Science, in their 2022 research paper, RFID technology is receiving an increased focus in the logistics field. This is demonstrated in the spike of research outputs in recent years with a significant number of studies able to be cited from 2018-2020. These have been focused primarily on tracking (41.67%) and monitoring (31.25%) with the most common topic discussed across these studies being supply chain management.
Cost as a barrier to scale in RFID businesses
While RFID technology can provide significant benefits for logistics businesses, the upfront costs associated with implementing RFID solutions can be a barrier to adoption for some businesses. These costs can include hardware, software, installation, and training expenses. However, vendor financing can help businesses overcome this barrier by providing financing options tailored to their specific needs. If you’re an RFID company, looking for ways to streamline your sales process via bespoke vendor financing options for your customers is critical.
Business equipment loans for your customers
Vendor financing from Multipli offers a range of benefits for logistics businesses, including fast approvals and streamlined processes. Unlike traditional financing options, which can take weeks or even months to secure, vendor financing can provide businesses with the financing they need in as little as 24 hours. Additionally, vendor financing allows businesses to preserve their cash flow and working capital, providing them with more flexibility to invest in other areas of their business. Compared to other financing options, such as bank loans or lines of credit, vendor financing from Multipli is specifically designed for businesses looking to purchase RFID tracking solutions. This means that Multipli can offer more flexible terms and conditions, including customized payment plans and deferred payment options, to meet the unique needs of each business.
The benefits of working with Multipli as an RFID vendor
Partnering with Multipli for financing and business payment plans for RFID logistics solutions offers a range of benefits. Our curated business payment plans are designed to help your sales team close deals more effectively, enhancing customer satisfaction and giving you a competitive edge in the market.
Our flexible non-standard payment terms go beyond the typical 90-day cycle, demonstrating our willingness to work with your customers' unique payment needs. By removing common barriers to conversion with our payment plans, we help accelerate your pipeline and cash flow, ensuring swift deal sign-offs and revenue into your high value asset tracking software business.
At Multipli, we take on the risk of collections from your customers, paying you upfront and freeing you from the burden of collections.
Our bespoke payment plans facilitate rapid high value asset tracking software sales closure, eliminating the need for you to discount deals to meet sign-off thresholds.
Our manageable payment plans convert large annual costs into more affordable options, meeting the demands of customers who expect pay-as-you-go or SaaS-type plans.
Our accreditation process is straightforward and efficient. Simply reach out to us or visit My Multipli to start offering Multipli vendor financing options.
In summary
RFID tracking solutions are becoming increasingly important for logistics businesses looking to improve efficiency, reduce costs, and enhance supply chain visibility. However, the upfront costs associated with implementing RFID technology can be a barrier to adoption for some businesses. That's where vendor financing from Multipli comes in.
By offering customized financing options tailored to the needs of each business, Multipli can help businesses overcome upfront costs and close deals for RFID tracking solutions. With fast approvals, streamlined processes, and flexible terms and conditions, Multipli is the ideal partner for businesses looking to finance their RFID technology purchases.