Tech Data, a subsidiary of TD SYNNEX, is set to introduce Tech Data Capital across Singapore, Australia, and India, providing tailored financing options in collaboration with chosen financial institutions to both partners and end-users. This expansion follows successful launches in North America and Europe, enhancing Tech Data's commitment to leveraging its robust capabilities and industry know-how to meet the evolving demands of the channel ecosystem.
As rapid technological changes introduce significant business challenges, vendors, distributors, and partners are seeing the channel as a reliable source to validate and scale new technologies and to obtain guidance and business insights. Many partners are exploring alternative sources for financing or enhanced payment solutions to fund business growth, invest in new technologies, and meet customer demand. Per our recent Direction of Technology 2023 Report for Asia Pacific & Japan (APJ), credit and financial scalability emerged as a key challenge for 59% of partners in the region.
Tech Data Capital is rolling out enhanced payment solutions supported by handpicked financial institutions, empowering IT channel partners and their clientele with innovative avenues to bolster purchasing capabilities. This initiative aims to drive heightened profitability and foster accelerated growth within the IT ecosystem.
“While the APJ technology market is dynamic and competitive with many opportunities for growth and innovation in the channel, credit and financial scalability remain a challenge”, said Matt Shifrin, Chief Financial Officer, Tech Data APJ. “Together with our financial partners, Tech Data Capital’s flexible payment solutions will empower our partners and customers to scale their purchases and operations, facilitating accelerated business growth while propelling the overall IT ecosystem forward”.
“Tech Data is committed to empowering our partners with business model agility and the tools essential for current and future success. Robust financing is an urgent need for partners to capture growth across the APJ region. Tech Data Capital is one of such tools for our ecosystem, that will enhance their financial capacity to address rapidly changing business models and evolving customer demands”, said Jaideep Malhotra, President of TD SYNNEX, Asia Pacific & Japan.
Tech Data Capital, in collaboration with chosen financial institutions, streamlines the financing procedure by enabling seamless integration of payment solutions into product sales, upfront funding for the entire term. This strategic approach mitigates credit risks for partners while amplifying customer value. Additionally, partners will benefit from dedicated financial teams offering specialized expertise, extensive training, and integrated selling alongside product marketing and sales teams. They will have the flexibility to provide financing alternatives like installment and deferred payments, spanning terms from 12 to 60 months.