Utilizing Cash Flow Effectively

Banks Value Technology-as-a-Service Despite Having Capital

The Case 

Staying connected and being able to manage relationships is at the heart of how Coastal Community Bank thrives. It is at their core to build trusted relationships and be a financial institution its clients can depend on. To do this, Coastal relies heavily on its systems and network infrastructure, so it explored a managed network solution to serve its 12 locations throughout the Everett, WA community. It was critical that they continue to deliver that trust and respected customer experience no matter how the bank, its processes, or technology changed over the years.

When the bank's system integrator stepped in to assist the bank with its new technology needs, he did something important. He not only did his qualifying process to discover what the technical needs were, but he took it a step further and looped in TAMCO, their financing partner, to assist the bank with their financial needs. Therefore, instead of talking to the bank on his own about payment options and financial considerations or assuming the bank knew how they should pay for technology, he designed a more credible sale by collaborating with TAMCO, which was able to consult on the financial needs.

Together, with TAMCO, the technology integrator uncovered early in the sales process, the bank's concerns regarding how technology needs and business needs can change so rapidly. The potential of operating with obsolete technology and not being able to provide the highest quality of service was a very real fear for the bank. 

The Solution

After TAMCO and the solution integrator worked in collaboration to discover the bank's various concerns, the system integrator put together a strong solution recommendation to address and solve their concerns. The proposal included the technical product, but what made it stand out was the combined financial recommendation of technology-as-a-service (TaaS). The benefits of TaaS with TAMCO, above a capital expense option, put all of their concerns to rest. The bank, knowing they could have the ability to preserve capital on a depreciating asset, not have to make a large capital purchase, and have the freedom and flexibility of the Solution Replacement Guarantee (SRG) in the event their technology becomes obsolete offered peace of mind and protection they were hoping for.

This total solution recommendation included not only the technical parts of what they should buy but the integrator did a great job peeling back the layers and identifying the pain points so he could recommend the right way to buy as well. The integrator sold the bank the assurance that it could always maintain its reputation and promise of an exceptional customer experience. TaaS provided the bank with peace of mind and the ability to always stay at the forefront of technology so they can always serve their customers to their high standards. 

Technology-as-a-service is designed to solve many common concerns businesses face as they evaluate different types of technology solutions, i.e. audiovisual, security, digital signage, data networking, and related infrastructure and technology hardware needs. Including, the ability to migrate or grow if the solution no longer meets the customer's needs or the technology becomes obsolete, along with many other benefits ideal for the constantly changing business climate. 

Even banks, who sit on large stacks of cash, would rather use and access IT solutions versus ownership. They understand, spending capital on technology is highly risky for multiple reasons including; it is a depreciating asset, businesses change and grow, technology is always rapidly advancing, owning technology locks you to equipment or a financial obligation, and depleting cash can negatively impact important financial ratios.


Even banks, who sit on large stacks of cash, would rather use alternative ways to pay for IT solutions. 


Banks and financial institutions happen to be the top vertical market for technology-as-a-service. However, there is really no market segment that does not find value in technology-as-a-service. The monthly payment, and subscription consumption model is being adopted across all verticals in today's market. 

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