Balboa Capital, a leading direct lender and nationwide provider of equipment vendor financing, announced the results of its 2016 Equipment Vendor Mobile Technology survey, which revealed that 73% of equipment vendor businesses are utilizing mobile technology. The survey was sent to more than 36,000 equipment vendors throughout the United States in July 2016 and provides a comprehensive view of the mobile business landscape.

 “The results of our survey show that mobile technology is being embraced by a significant number of equipment vendors who recognize its many benefits,” said Jake Dacillo, Marketing Director at Balboa Capital. “Over 7 in 10 equipment vendors are using some form of mobile technology on a day-to-day basis because of the true impact it is making. Respondents to our survey report that it increases productivity, helps facilitate sales transactions quickly, and empowers customer service like never before.” Balboa Capital developed a mobile technology infographic that highlights mobile usage trends among equipment vendors and small business owners in the United States.

Other notable findings include:

• Among equipment vendors who utilize mobile technology, 72% said greater accessibility is the biggest benefit, followed by more sales leads (59%), faster sales transactions (59%) and improved customer service (40%).
• 3 in 4 respondents stated that their equipment vendor business uses cloud-based solutions, technologies, or Software as a Service (SaaS).
• 100% of equipment vendors who use mobile technologies report that these technologies are integrated with their back-end operations.
• 4 in 5 equipment vendors conduct between half and all of their business tasks through the use of mobile devices.
• 26% of equipment vendors do not use mobile technology as part of their overall operations. When asked why they have not added mobility to their businesses, respondents said the number-one reason was perceived difficulty (60%), followed by affordability concerns (40%) and security concerns (30%).

“What customers expect in terms of speed is growing each day, and equipment vendors will need to evolve their business models and make changes accordingly to keep up,” said Dacillo. “Here at Balboa Capital, we help our equipment vendor partners meet the growing needs of their customers with fast, dependable funding. They also have access to Portal360, our comprehensive online sales management system for equipment vendors that is compatible with all mobile devices. It’s the perfect solution for vendors who conduct business on the go.”

Balboa Capital is one of the largest privately-held independent finance companies in the United States delivering access to capital, speed of processing, dependable funding, industry-leading technology and innovative marketing tools that small and medium-sized customers require to fuel their growth and success.