Improving U.S. economy spurs new and replacement purchases
MOBERLY, Mo., Apr 13, 2012 (BUSINESS WIRE) -- In remarks leading up to next week’s ITEX Expo & Conference in Las Vegas, GE Capital’s Office Imaging team noted that total OI industry unit shipments are expected to grow 3% this year, with the fastest-growing industry segment being value-added devices paired with services and supplies. Sales of color office imaging devices are showing more modest growth, while sales of black-and-white ones are declining.
The two major types of value-added programs, basic print services (BPS) and managed print services (MPS), are expected to grow strongly through 2015. BPS refers to basic print services plus usage assessment, reporting and optimization. MPS encompasses multi-function devices, service and supplies, which are typically packaged together as multi-year contacts with consolidated fleet billing and remote monitoring.
“The improving economic environment in the U.S. is likely to spur businesses to make new and replacement equipment purchases,” said Glen Clark, vice president and general manager of GE Capital’s Office Imaging business. “As MPS in particular continues to grow strongly, vendors are also expanding into adjacent IT services to offer end-users a one-stop shop.”
Clark will be speaking at the MPS Strategy Forum during next week’s ITEX event. On April 19, 1 PM-1:50 PM, Clark will share strategies to help dealers evaluate revenue opportunities, including cost allocation and the impact of servicing the product. He will also provide best practices for developing an annual business operating rhythm that maximizes growth while minimizing risk.
About GE Capital, Equipment Finance
GE Capital’s Equipment Finance business serves more than 30,000 dealers in North America and reaches nearly 300,000 businesses across the U.S. through original equipment manufacturers and dealers. We offer expertise in 25+ industries, providing financing programs designed to fit each one’s unique dynamics. In 2011, we provided approx. $50 billion in funding, up 7.5% from 2010.
GE Capital, Office Imaging is a leading provider of innovative financing solutions including leases and loans to manufacturers, dealers and end-user businesses to help drive cost efficiencies and top-line growth. Its customizable financing solutions and full-service support help dealers and customers take advantage of their MPS opportunities and “think beyond the copier.”
In addition to smart financing, GE Capital provides the knowledge and expertise to help customers go farther and do more. After more than 20 years in the office equipment industry, we continue to invest in digital tools to help dealers manage their portfolios, speed decision-making and streamline the sales process -- all with an eye toward helping them succeed. Our online credit decisioning system, LeasingSource, typically provides credit approvals in less than one minute. That’s because we’re not just bankers, we’re builders.
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital).
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SOURCE: GE Capital