Dicker Data launches financial services business

Dicker Data launches financial services business

Will be led by Drew Ritchie

David Dicker (Dicker Data)

David Dicker (Dicker Data)

ASX-listed distributor Dicker Data has launched a new financial services division to help address the services market shift from IT procurement to as-a-service models.

Called Dicker Data Financial Services (DDFS), it will offer by-the-month payment solutions that can be tailored to suit partners and their customers' requirements, and will be led by the general manager of the division, Drew Ritchie. 

The new unit aims to address the market shift towards device as-a-service, infrastructure as-a-service, and customers making the move from capital expenditure to operational expenditure.  

Partners will have the option of DDFS financing them directly or their end-users, subject to credit approval.

Dicker Data CFO, Mary Stojcevski, told ARN it will also have dedicated DDFS support resources in place for the launch, and expects the team to grow over the coming months in line with the demand and uptake of its offerings.

Stojcevski said it conducted an extensive amount of research during the last nine months with overwhelming feedback from partners not to rush to market, but rather, bring a comprehensive financial services solution that is specifically tailored for the channel. 

"We’ve transacted a number of deals already with a range of partners which has helped us to refine our offering to the point where we are highly differentiated and delivering an unmatched level of value to our partners," she said.

The launch is specific to the Australian market, but Stojcevski said it was exploring its options and the viability of bringing the offering to New Zealand.

Dicker Data said it would be uniquely positioned against other competing financial solution offerings from other distributors, because the offering will be underpinned by its own balance sheet.

“By using the only direct financing model in the industry, reseller partners will benefit from Dicker Data’s investment into every deal with them, transparency and alignment of common goals at the end of the term and no predefined product mix requirement,” the distributor said in a statement.

Dicker Data chairman and CEO David Dicker further added its success has been driven by leveraging its in-house expertise and providing highly differentiated solutions.

In January, the distributor revealed higher than expected revenue results for the financial year ended 31 December 2018, showing a 14.4 per cent increase in revenue to $1.49 billion for 2018.

Profit before tax saw a 15 per cent increase to $46 million, which also exceeded the company’s initial guidance of an eight per cent increase.

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