Mitsubishi HC Capital America Grows its Financing of Automation-As-A-Service
Specialty finance provider Mitsubishi HC Capital America announces it is growing its portfolio of automation-as-a-service (AaaS) financing, with a focus on the food services, warehouse/supply chain and robotics industries.
The company’s expansion of AaaS is designed to meet the demand for leading-edge technology to address labor shortages, increasing costs and safety requirements, and drive greater growth for small and mid-sized businesses in these sectors.
Mitsubishi HC Capital America is working with OEMs to provide financing solutions for automation and related robotics deployments that bundle the costs of equipment, software, supplies and servicing into one affordable monthly payment for businesses. The advantages of AaaS include the familiar benefits of financing such as preserving cash for other business uses and faster ROI. The AaaS subscription model differs from traditional lease structures in that it isn’t bound to a specific piece of equipment, so end-users have access to the latest technological upgrades and avoid the risk of obsolescence.
“High costs and rapid advancements in automation and robotics equipment make it uniquely suited for as-a-service financing,” said Jason Koby, Senior Vice President Sales, Vendor Finance. “Mitsubishi HC Capital America’s customized solutions provide the use of a piece of equipment that for many businesses would be otherwise unattainable.
OEMs are finding that offering AaaS financing is critical to their competitiveness, as well as that of their customers. Mitsubishi HC Capital America is providing private label financing for OEMs, which enables their end-users to have a seamless customer experience and helps build customer loyalty.
Koby added, “With businesses more familiar with and receptive to subscription model services, AaaS reframes the thinking around ever owning equipment again.”