Balboa Capital Survey Finds 73 Percent of Equipment Vendors Leveraging Mobile Technology
Thursday, August 11, 2016
Balboa Capital has announced the results of its 2016 Equipment Vendor Mobile Technology survey, which revealed that 73 percent of equipment vendor businesses are utilizing mobile technology. The survey was sent to more than 36,000 equipment vendors throughout the United States in July 2016 and provides a comprehensive view of the mobile business landscape.
"The results of our survey show that mobile technology is being embraced by a significant number of equipment vendors who recognize its many benefits," said Jake Dacillo, marketing director, Balboa Capital. "More than seven in 10 equipment vendors are using some form of mobile technology on a day-to-day basis because of the true impact it is making. Respondents to our survey report that it increases productivity, helps facilitate sales transactions quickly, and empowers customer service like never before."
Other notable findings include:
"What customers expect in terms of speed is growing each day and equipment vendors will need to evolve their business models and make changes accordingly to keep up," Dacillo said. "Here at Balboa Capital, we help our equipment vendor partners meet the growing needs of their customers with fast, dependable funding. They also have access to Portal360, our comprehensive online sales management system for equipment vendors that is compatible with all mobile devices. It's the perfect solution for vendors who conduct business on the go."
- Among equipment vendors who utilize mobile technology, 72 percent said greater accessibility is the biggest benefit, followed by more sales leads (59 percent), faster sales transactions (59 percent) and improved customer service (40 percent).
- Three out of four respondents stated that their equipment vendor businesses use cloud-based solutions, technologies or software as a service (SaaS).
- Four out of five equipment vendors conduct between half and all of their business tasks through the use of mobile devices.
- Twenty-six percent of equipment vendors do not use mobile technology as part of their overall operations. When asked why they have not added mobility to their businesses, respondents said the number-one reason was perceived difficulty (60 percent), followed by affordability concerns (40 percent) and security concerns (30 percent).