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KLC Financial Now Financing Emerging Software Technologies

October 29, 2019, 07:05 AM
Filed Under: Company Announcements

KLC Financial is now offering competitive financing options for companies looking to invest in emerging software technologies that traditional funding sources are reluctant to financially back.

The software sector is rapidly growing, with more and more companies looking to invest in their infrastructure to enhance their customer and employee experiences. They want to integrate all of their systems, bolster their security, move to mobile friendly technology. The problem is, this can be extremely expensive, and an investment in software can be difficult because most traditional banks don’t like financing software because of the inherent risks:

  • There is very little salvageable equity in the software if the company does not succeed, leaving the bank to take the financial hit.
  • Software can be hard to patent which leaves the market open for copycat companies to come in and compete, decreasing the remarkability.
  • There is no serial number so it is hard to secure and track.

This can make it extremely difficult for companies to get the financing options they need to be able to grow their business. Which is why KLC Financial is aggressively looking to help companies from all industries and credit histories get the financing or lease options to invest in their software. 

“We have a lot of customers and vendor relationships for whom KLC is financing the appliances and sensors that gather data as well as the monitoring software that manages the data,” said Spencer Thomas, President of KLC Financial. “We are primed to be able to react quickly securing fast, easy financing solutions for these kinds of clients, and we will be heavily focusing on this sector as we head into 2020.” 

Emerging Software Technologies is a multi-billion-dollar industry, and growing exponentially every year. Companies are looking for more automation options that integrate with their legacy systems to enhance the customer experience, the employee experience and to be more mobile friendly.

In a recent report from Salesforce:

  • 77 percent of companies are planning to invest heavily in the customer experience with integration and security being their top priority.
  • 74 percent of IT leaders say a lack of mobile access to business apps, data and content will slow business productivity in 2025.
  • 99 percent of IT leaders say businesses must be mobile-enabled to survive in the future.

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