5 Minutes With the Captive and Vendor Finance Chair

 

What’s happening with captive and vendor finance companies in the equipment finance space? Equipment Leasing & Finance magazine recently caught up with Troy Graziani, Chair of the Captive and Vendor Finance Business Council Steering Committee (BCSC), to take the pulse of this sector. Graziani, who is Director of Corporate Operations and Business Intelligence at Toyota Industries Commercial Finance, Inc., is currently serving his first year at Chair of the committee, which represents ELFA member companies that provide vendor financing programs, either as a subsidiary of a manufacturer or an independent, third-party organization. 
Troy Graziani

From your perspective, on what hot topics is the Captive and Vendor Finance sector focused this year? 

There are many intriguing topics that continually come up in our meetings—electronic contracts, robotic process automation, blockchain, machine learning and decisions, engaging millennials, solution financing, etc. The industry is ripe with new technology and ways of going to market. To me, it’s about selecting which avenues will allow you to change your business and best service the needs of the customer—perhaps even needs they don’t know they have yet. Sometimes you simply have to be bold and be willing to take a chance to get ahead of competition. Executing on your convictions is also critical. Too often opportunities are lost due to poor execution. 

To share a common example but one that really caught my attention: We were delayed on my flight back home from the ELFA Annual Convention and spent an hour or so sitting on the tarmac in Phoenix. Tired of trying to decide which app to peruse, I sat and just looked around the plane. I couldn’t help but notice every person from ages 7 to 70 gazing deeply into their smart phones. Every single person. Think about how that market has changed over the last 20 years and the new business opportunities it generated. And also think about which companies executed and excelled and which didn’t. I try to take that mind-set when looking at problems within our organization and the equipment finance industry. You don’t want to be the 2025 industry equivalent of BlackBerry.

How did you get involved with the BCSC? Would you recommend it to others? 

ELFA has always done a nice job of organizing its events and illustrating the benefits of participation. The BCSCs are great way to network with industry peers who share common issues. The dialogue is always insightful and provides an opportunity to think about things differently.

What was the last book you’ve read?

Cosmos by Carl Sagan. I wanted to be an astrophysicist growing up but I wasn’t smart enough so I went to business school.

About the BCSCs

The BCSCs represent ELFA’s five key business segments: Captive and Vendor Finance, Financial Institutions, Independent Middle Market, Service Providers and Small Ticket. Learn more at www.elfaonline.org/BCSCs. Interested in joining? Contact Ed Rosen at [email protected].