18 May Sales Enablement Announcement – $1.1M in Software & Services
BidFin recently enabled a $ 1.1M Software and Services transaction for one of Australia’s largest and leading retailers. The customer was entering into a 3-year upfront software and services enrolment with a global Vendor in Cloud Computing and Virtualisation Services.
The Vendor had an indirect sales model whereby the customer was required to purchase through a Top Tier Managed Service Provider (MSP). The challenge for the customer was they required the 3-year upfront enrolment but to meet budget limitations they needed to pay for it on an annual basis. Paying annually also meant they could remit the funds more in line with the usage and consumption of the assets being purchased.
BidFin was introduced to the customer by the MSP and the Vendor to facilitate a suitable payment option. On settlement, the customer stated the transaction would not have been possible without the flexibility that BidFin was able to deliver with their payment offering. It also allowed both the Vendor and the MSP to recognise the 3-year revenue value upfront, whilst allowing the customer to pay annually.
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