Utilizing Cash Flow Effectively

Why Banks See The Value Of Shield, Despite Having The Cash To Pay For Technology

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 their systems and network infrastructure, so they explored a managed network solution to serve their 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 changes over the years.

When the account executive (AE) with TAMCO partner, Frontier, stepped in to assist the bank with their acquisition, 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 to assist the bank with their financial needs. Therefore, instead of talking to the bank on his own about payment options and financial considerations, he designed a more credible sale by collaborating with his TAMCO designated contact, who was able to be the financial expert for him.

Because the AE had his TAMCO contact involved early in the process, they were able to uncover many of the bank's concerns regarding the needed equipment. Most significant being how technology and business needs change so rapidly. The potential of having outdated technology and not being able to provide the highest quality of service was a very real fear. 

The potential of having outdated technology and not being able to provide the highest quality of service was a very real fear. 

The Solution

After discovering the bank's various concerns, the partner was able to put together a strong recommendation. It included the technical product, combined with the financial recommendation TAMCO Shield, that would put all of their concerns to rest. In particular, the solution provided the peace of mind that they have protection against whatever the future may bring and they can maintain their reputation and promise of an exceptional customer experience which was of utmost importance to them.

When positioned, TAMCO Shield is a means to solve many concerns businesses face as they evaluate technology and telecommunications equipment acquisitions. Even banks, who sit on large stacks of cash, would rather use alternative ways to pay for IT solutions. They understand, spending capital on technology is highly risky for multiple reasons including; it is a depreciating asset, businesses change and grow, yet find themselves locked 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. 

While banks and financial institutions happen to be the top vertical market for Shield, there is really no market segment that does not find value in this leasing alternative. Speak with your TAMCO contact to position and recommend a financial solution early in the process to help be successful with more transactions.

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