Our thanks to Siemens Financial Services, and Kevin Reed, for talking to PV about their recent double success at the recent AVS conference. Rumour has it that Kevin was more than a little delighted and couldn’t help but tell all and sundry and at every opportunity. A chance meeting with Teddy Sheringham by the pool after the ceremony couldn’t stop the bragging! There are photographs circulating showing the football legend making his own presentation to Kevin, maybe if PV had access to this gem, we could improve upon the pic of Kev’s cheesy grin!
Associated Vending Services (AVS) has recently awarded Siemens Financial Services (SFS) the “Support Services Award” for 2013. What does that mean to SFS and what distinguishes SFS from its competitors in your opinion?
We are absolutely thrilled about the award. Since the winner was voted by the members of AVS, we are very pleased that our efforts to provide tailored financing solutions and quality services have been recognised by the industry stakeholders.
Personally, I think what distinguishes us is our people, who are our greatest asset. We have a great team of very dedicated and committed employees who are always willing to go the extra mile for our customers. Dedication is not something that you can instil into your workforce, it comes about because employees identify with the organisation’s culture, the work it does and the values it stands for. At SFS we truly believe in the significance of financing in helping vending operators grow their businesses. As a firm believer of service excellence, I think the delivery of that in everything we do is what distinguishes us in the market place.
You also won the individual award “One Voice One Vision Chief Executive outstanding achievement Award”, which recognises your personal contribution to the vending industry. How do you feel about this?
I was completely astounded and humbled to be nominated and to be given this award. This recognition means a lot to me as I have worked with AVS for more than a decade and to receive this professional acknowledgement from the industry is truly humbling. What we must not forget though is the fantastic team at SFS that I have working with me, from the account managers and field sales support personnel to the head office team. Even though it is an individual award, it is the entire SFS team as a collective that has contributed to the development of the vending industry.
Now that we are out of the recession, how is the current vending market doing? Has there been an increase in demand for financing solutions?
We have certainly witnessed an increasing demand for financing solutions. However, this might be due to an increase of our market share rather than overall market growth. That being said, throughout my time at SFS, our vending business has been growing consistently. We are therefore feeling fairly confident about the demand for vending finance in the year ahead since investment sentiment is slowly on the rise as the economy turns a corner.
How will the vending industry develop?
Innovation is an increasing driver of the vending industry and we are seeing a growing number of manufacturers and operators taking up the mantle of innovation. Technology is advancing rapidly and the key is to harness the technological innovations both in software and hardware to enhance product delivery and the customer experience. Vending telemetry, for example, allows vending operators to expand revenue and reduce costs through remote stock monitoring, increased customer interaction and multiple payment methods. Evolving needs of the customers are also giving further impulses to innovative developments in the industry such as wave and pay technology as customers’ demand for convenience and comfort increases.
Are there any major challenges facing the vending industry?
The main challenge facing the vending industry is no different than that confronting other industries – players in the vending sector need to be able to anticipate end-customers’ needs and to deliver on their expectations. Successful vending operators have to keep developing their offerings to customers and technology will have a significant role to play in this regard. Of course, embracing new technologies requires investment, so flexible and affordable financing will be crucial in bringing new capabilities to market. This is where our strength lies and we are excited about the part we can play in promoting further growth of the sector.
