WHAT’S HAPPENING with captive and vendor finance companies in the equipment finance space? Equipment Leasing & Finance magazine recently talked to Andrew Blacklock, Chair of the Captive and Vendor Finance Business Council Steering Committee (BCSC), to take the pulse of this sector. Blacklock, who is Senior Director, Strategy and Financial Product Development at Cisco Capital, is currently serving his first year as 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.
From your perspective serving on the Captive and Vendor Finance BCSC, what issues are captive and vendor finance companies focused on this year?
The manufacturing parents and partners of captives and vendor finance companies are undergoing unprecedented transformation in response to their customers’ desire to consume solutions in new ways. They need to evolve in parallel to ensure that they continue to provide value to their parents and partners. Captives and vendor finance companies must be nimble and explore new and emerging technologies, like machine learning, predictive analytics, block chain and more in order to remain relevant. At the same time, it will be important to create and embrace new payment solutions such as consumption and subscription-based products. Successful captive and vendor financing companies will be able to quickly respond to the changing market dynamics with innovative solutions and a focus on simplification.
What do you like best about serving on a BCSC?
Over the next few years this industry is going to experience a transformation. I’m excited to be part of the industry group that can help guide our members through a period of massive change and growth. The part I most enjoy about being on a BCSC is the interaction I have with fellow members on the business council. This is an excellent opportunity for us to work together, share best practices and discuss the challenges and opportunities facing our businesses.
Join the Roundtables!
The Captive and Vendor Finance, Financial Institutions and Independent Middle Market BCSCs are planning best practices roundtables, to be held April 10 in Chicago. See details at www.elfaonline.org/events.
About the BCSCs
ELFA’s Business Council Steering Committees represent ELFA’s five key business segments: Captive and Vendor Finance, Financial Institutions, Independent Middle Market, Service Providers and Small Ticket. The committees pursue priorities related to their distinct memberships and integrate their work into the overall goals of the association. Activities include membership recruitment and grassroots political advocacy, contributing to industry research, presenting the Guest Lecture Program, and attending and contributing to the success of Capitol Connections and the Annual Convention. Interested in joining? Contact Ed Rosen at [email protected].
