AI & Automation Software Financing & Offering Customer Payment Plans

With the explosion of Artificial Intelligence (AI) and Automation software, companies working in this given space are needing to become creative in their approach to sales. In this blog, our team at Multipli discuss the AI industry more broadly, the barriers sales team face and ways to supercharge acquisition by offering AI vendor financing.

Overview of the AI & Automation industry

The AI and Automation industry is experiencing rapid growth, with sources stating that it will reach a value of over $126 billion by 2025.

This growth is increasing demand for automation solutions, particularly in enterprise settings. In the past, organizations found it difficult to implement and use AI and automation solutions due to the high cost and complexity associated with them. Thankfully, with the advancements in technology, these solutions are now becoming more accessible and cost-effective, creating new opportunities for businesses to benefit from AI and automation.

According to the above cited research, the AI and Automation market is anticipated to grow by more than 77% in the next five years. This growth will be driven by the increasing adoption of AI and automation solutions across various industries, such as healthcare, finance, and retail. Additionally, the increasing availability of data, which has made it easier to use AI and automation to enhance operational efficiency, is also contributing to this growth.

As organizations are now more able to access AI and automation solutions, they can benefit from increased operational efficiency and cost-savings. However, high upfront costs associated with these solutions are presenting a barrier to adoption. To address this issue, vendors should consider providing tailored AI financing options for customers, allowing them to spread the cost of the solution over a larger period of time. This would not only make it easier for customers to access AI and automation solutions, but also help vendors close more deals and develop robust sales pipelines that are not hindered by sticker shock. A truly smart vendor would use their own data-driven insights to understand customer preferences, repayment terms and create bespoke plans that assist with affordability and customer satisfaction through the sales process.

Common blockers to closing deals when selling AI and automation services

Common blockers to closing deals when selling AI and Automation software include the high upfront costs associated with these solutions. Organizations may find it difficult to invest the required amount of money upfront, making it difficult for vendors to close the deal. Additionally, customers may not be able to understand the value and potential of the AI and automation solutions, making it harder for vendors to demonstrate their value.

Demonstrating the AI or automation software is key. Show customers the potential of the software and service, curate the demo to their specific needs, and tie it back to a strong vendor financing proposition that would resonate with their customers.

How to address common blocks to selling AI software

• Lack of understanding: Educate prospects on the benefits and capabilities of AI technology.
• Concerns over data privacy: Address privacy concerns by highlighting security measures and data protection policies.
• Fear of job loss: Emphasize that AI can enhance human productivity and create new job opportunities.
• Cost: Present a clear ROI analysis and demonstrate cost savings in the long-term.
• Competition: Differentiate your solution through its unique features and benefits.
• Complexity: Offer training and support services to ease implementation and adoption.
• Scepticism: Share case studies and customer success stories to build credibility and trust.
• Payment plans: Once value is understood, showcase payment plans that simplify the affordability questions and help demonstrate low barrier to entry.

Enabling your sales team to close deals with bespoke financing options

To enable your sales team to close more deals, vendors should offer tailored financing options for customers. These bespoke financing options would allow customers to spread the cost of the solution over a period, making it easier for them to access AI and automation solutions.

Why is it smart to offer AI financing?

• Increased Sales: Offering vendor finance can increase sales by making it easier for customers to purchase your software. By providing financing options, you can remove the financial barrier for customers who may not have the upfront capital to make a large purchase. This can help you close deals faster and increase your customer base.
• Improved Cash Flow: When customers opt for vendor finance, they typically pay for the software in instalments over time, while the company offering the finance (in this case, Multipli) pays you in full up front, thus improving cash flow.
• Competitive Advantage: Offering vendor finance can also give you a competitive advantage over other software providers who do not offer financing options. By making it easier for customers to purchase your software, you can differentiate yourself from the competition and gain a competitive edge. Additionally, by providing financing options, you can attract customers who may have otherwise gone to a competitor who offered similar financing options.

Turning upfront costs into monthly payments

If you’re a company offering AI or Automation software/services, and you’re ready to start differentiating your business with a strong vendor financing proposition, it’s time to speak to us here at Multipli.

At Multipli, we understand the challenges of investing in AI and automation solutions, and the need to offer tailored financing options to make these solutions more accessible. We offer tailored financing plans that allow customers to spread the cost of the solution non-standard periods of time, making it easier for customers to access your AI and automation solutions.

With offices in North America, Australia, and the United Kingdom – we are a true global organization that has 15+ years of experience in creating business payment plans for software companies. Start by contacting us to be become accredited with Multipli. Once accredited – you can begin submitting deals through our system, MyMultipli.

Turn those large upfront costs into bite size manageable payment plans for your customers. They’ll love you for it.