Many restaurants and small businesses use a cash register and a separate terminal to handle sales, while another PC handles timecards and inventory management. But as the business grows, so does the need for a full-scale point of sale (POS) system. Such a system in a restaurant, for example, integrates everything from placing an order to a credit card swipe into one piece of equipment. But this type of equipment can cost tens of thousands of dollars. That’s where ExecuTech Lease Group comes in.
“We’re a financing option so they can spread their purchase out through a lease for 12 to 60 months,” said Kyle Moys, ExecuTech president.
ExecuTech Lease Group specializes in payment technology, such as credit card processing machines, check processing equipment, check imaging equipment, POS systems and free-standing ATMs. Customers include both merchant service providers (MSPs) and independent sales organizations (ISOs).
Headquartered near the Westfield Vancouver Mall, ExecuTech Lease Group is the only West Coast company in its market. Since the company’s founding in 2010, ExecuTech has expanded into Canada, and is looking at expanding even further – perhaps into Europe and into new market and equipment categories.
“It’s been a fun progression over the last four years,” said Moys, who was born and raised in Hockinson. “We hope to grow 60 percent each year.”
The company was named the 16th fastest growing firm in the Portland market last year, and was in the top 1,900 on the Inc. 5000 list, with 316-percent three-year revenue growth (from $1.4 million in 2010 to $4.6 million in 2013). The staff has grown from a single employee to six, and Moys said that in the next couple years he would need to find a larger office space for the company.
ExecuTech offers an industry-standard fair market value purchase option for most of the equipment they lease. At the end of the lease, the merchant has three choices: return the equipment to ExecuTech Lease Group, continue to rent the equipment, or purchase the equipment for fair market value. Moys said this type of lease agreement provides merchants with the highest return to the sales organization, possible tax benefits and the ability for the merchant to continue to use equipment while considering new options.
But while the lease agreement is industry-standard, Moys said what sets his leasing company apart from competitors is a focus on customer service.
“We’re changing the mold for merchants and for the makers of the equipment we lease,” said Moys. “We offer a personal leasing touch. We want to change the impression people have about equipment leasing in this space.”
Moys accomplishes this by making sure that customers feel like they matter. Instead of an automated phone system, at ExecuTech Lease Group, a live person answers the phone every time a customer calls.
“If merchants call with concerns, they can get me, the operations manager or the CEO on the phone the first time,” Moys stated.
The industry is noticing – ExecuTech Lease Group has been listed as the #1 company on TopCreditCardProcessors.com for 27 months running. This website, said Moys, is an industry publication that reviews credit card processing industry companies, based on customer service and customer retention.
“Our continued top ranking at TopCreditCardProcessors.com is very exciting,” Moys said.
As an example of how ExecuTech Lease Group puts customers first, they are willing to broker leases for other equipment besides payment technology, if that is what the customer needs.
“We’re here to help our clients. If they are setting up a restaurant with a $20,000 POS, but also want a range and refrigerator, we have relationships with other leasing partners and can put it together in one sale,” explained Moys. “We won’t walk away from a business opportunity.”
For these types of leases, ExecuTech Lease Group offers a dollar buy-out program which Moys said was unique to the industry. This program lets merchants lease-to-own their larger equipment, such as office and restaurant equipment.
“We’ve found that with other leasing companies, customer service is really lacking – they are more worried about you making the payment than anything else,” said Moys. “We have the same agenda – we want to make sure customers pay bills, but by having an open-door policy it helps us resolve issues that might have been overlooked otherwise.”