LED signage provides useful self service solutions for both private and public businesses. Whether it is for wayfinding or for self-payment solutions, interactive kiosks and digital signage are the ideal solution for businesses to engage with their audiences. Although these self-service initiatives provide significant returns for businesses, there is often the question of how the investment will fit into the current budget.
How much should you expect to pay?
Digital signage is indeed a great investment for the future of your company. What one is often concerned about is how much of the total investment cost should they pay upfront?
Most LED sign manufacturers usually require 50% advance payment for new customers, unless the organization making the investment is a big scale educational institute or government entity. With a half payment upfront, the manufacturer is able to better trust the end user and can respond to the customer’s needs more effectively. LED Craft Inc is a trusted LED signs solution provider in St. Louis, USA. Since every digital signage campaign has a large element of customization, the upfront payment allows for the preparations of customized components. For orders less than USD 5000, a full payment is better simply to make the process faster.
How can you gaugea price?
When investing in a digital signage solution, prices may vary depending on a lot of factors. Some of these include shipping, installation, and other customized features that the buyer requests for. Shipping charges will vary depending on the geographical location. Installation is included in some manufacturer’s quotes while some don’t include that service because not all buyers require it. Another fee that buyers may have to consider in case of a kiosk investment is that of field support. In addition to that, there is also the cost of software license renewals. Most software is available as Client-Assigned-License where annual maintenance fees are charged, or there is the option of Software-as-a-Service (SaaS) where the software license needs to be renewed annually.
What payment terms are available?
In some companies, usually smaller ones, a single finance officer handles the billing or in the case of bigger organizations, there is an accounting department. Payment can be made in net terms for your investment. The benefit of this is that the payment can be deferred for that much time. As a result, working capital is freed up and companies can better manage their cash flow. Net terms are only granted to customers who are credible for paying up on time.
If your business is keen on investing in digital signage solutions but cannot afford to pay the necessary amount upfront, you could choose to bring in a third party to finance the campaign. Several capital financing companies are available to provide you with the necessary funds in return for interest. These leasing programs come with multiple term options and you can choose one suitable for your business. If you choose to take this route, be prepared for background inquiries and also requests for collateral from the finance company.