FAQs

What financial solutions does IER have to offer?
What is Factoring?
How does invoice factoring work with IER?
Why is factoring a good solution for OEMs?
How does an IER warranty program benefit my company?
Why should I get a warranty program for my product lines?
How does IER’s warranty program protect your company’s reputation and increase revenue?
How will IER work with me as the customer?
What are the benefits of a good warranty program to us, manufacturers?


Financing

What financial solutions does IER have to offer?
IER has arranged a full range of options for your equipment including financing, leasing, and in unique situations, development funding.
Even better, we can provide these solutions directly to your customer or as private label services.

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Factoring

What is Factoring?
Factoring provides manufacturer’s short-term working capital in exchange for selling or assigning the receivables/invoices to IER. The company then advances to the manufacturer a set percentage of the invoice’s value. The percentage advanced against such a contract can be quite high. However, all cases are subject to the risk of the contract and transaction and assessed one by one. The final stage for repayment is for the invoice to be paid to IER and the remaining set percentage paid to the manufacturer minus any applicable fees.

This process ensures the manufacturer has fast, short-term cash access and is available to all qualifying manufacturers that invoice businesses (B2B), utilities agencies, or government agencies (B2G).

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How does invoice factoring work with IER?
Our factoring options ensure you have a flexible financial amount available immediately with just a few simple steps:

  • First, invoice your customer.
  • Second, you sell/assign the invoice (factor the invoice).
  • Third, you will be paid a set percentage of the full value of the invoice (loan).
  • Fourth, your client pays the remaining value of the invoice on the due date.
  • Fifth, you will be forwarded the remaining balance, minus the fees for the factoring process (repayment).

Using this process with IER will provide you with a tailored factoring solution that’s perfect for you as an OEM.

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Why is factoring a good solution for OEMs?

  • We provide cash immediately on placement of invoice from your customers rather than waiting for the customer to pay later against payment terms which may take up to 120 days.
  • Working with IER means less paperwork to file and manage.
  • Secure. Factoring depends on your customers credit worthiness, ensuring you a secure factoring line. Thus, you’ll have more peace of mind knowing there’s no credit or added debt.
  • Flexible. IER’s capacity for business is due to its focus on flexibility with the goal of providing the best financial solutions for your company’s needs.
  • Inclusive. You can get more help from IER in organizing and managing your receivables and collections accounts.

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Warranties

How does an IER warranty program benefit my company?
Warranty programs are proven to financially benefit companies in many ways. When fully integrated into your product lines, your company will generate higher margins, increase incremental revenue, protect your reputation and create a greater brand loyalty.

In addition, an effective warranty program provides your customers with the peace of mind they need to purchase more of your company’s products knowing their investment is protected.

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Why should I get a warranty program for my product lines?

The answer is quite simple, product buyers want to protect against random system failures and avoid extra costs in the future. Unexpected failures should not damage your company’s products reputation.

This is where IER can help you by providing its customizable warranty services.

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How does IER’s warranty program protect your company’s reputation and increase revenue?
We provide well-designed warranty programs that enable your company, as an OEM, a developer or assembler, to provide extended service agreements to your customers.

IER contracts your company to make the repairs covered under the warranty period. Service work with your customers represents an opportunity to increase customer interaction, retention and satisfaction which leads to increased service revenue and product sales.

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How will IER work with me as the customer?
IER private labels all of its products for you as the manufacturer. So, packages like our warranty services are under your company’s name and handled as such. This means that customers only see your brand name and not IERs. Therefore, you are more likely to be successful in providing this service since customers see that the plan is coming from the company that sold the product.

In the foreground customers communicate directly through our software that IER provides your company from the date the products are delivered. This is that is branded for you. This provides simultaneous communication and enables your company to immediately service the customer directly.

In the mean time, IER handles underwriting the program and adjudicating any future the claims. This allows your company to focus on its core business and receive expert assistance in providing the warranty and other financial services that your company now offers.

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What are the benefits of a good warranty program to us, manufacturers?
Warranty programs are also known as extended warranties, protection plans, product insurance, or service contracts.

They protect brand loyalty, especially when customers experience a product failure after the “Limited Warranty Period”. In addition they provide the peace of mind and financial protection that customer’s look for and the service work and client retention that manufacturers seek.

Key reasons for having a warranty program for a manufacturer include:

  • Revenue enhancement. This is achieved through retained customers and extended service agreement periods
    Customer security. Customers feel more confident purchasing a product when they know that it can be taken care of if it breaks down. This is complimented when the customer receives the warranty program with their purchase and directly from the product seller, and not a third-party provider.
  • Brand credibility. An excellent service contract is the one that delivers more than an ordinary warranty. Providing a high quality, comprehensive warranty program in conjunction with best of class repair service will strengthen your brand credibility. It shows reliability and trustworthiness which creates overwhelmingly positive customer reviews.
  • Customer loyalty. Customers tend to come back to the company that gives them the best customer service. While no product is perfect, if you have a warranty program and complimenting repair service that takes care of your customer then you can maximize the lifetime of value for that customer.
  • Brand authority. The service portion of a well-designed warranty program gives your company the opportunity to display its knowledge and commitment to excellence when a repair is required. The key here is in the execution—how you go about the repairs or maintenance and how you process the claims.

IER enhances the protection of your brand by facilitating the client interaction and providing the highest level of service.

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