Canon Leasing And Axis/Milestone Special Rates Examined
Leasing is uncommon for video surveillance systems but Canon is trying to change that. While it has owned Axis and Milestone for nearly a decade, Canon generally does not work with them. However, Canon is promoting special offers to lease Axis and Milestone.
In this report, based on a conversation with a Canon sales representative, and official responses from Canon, Axis, and Milestone, IPVM analyzes Canon's leasing business, as well as the use of leasing within the security industry.
Key Themes
Topics covered in this report include:
- Canon Financial Services' promotion terms
- Pricing details and application
- Business model and market coverage
- Canon financial services security industry team breakdown
- Defaults are uncommon
- Forward-looking trends
- Axis and Milestone's responses
- Outlook
Promotion *****
***** ********* ******** ** ********* * 2.99% ******* **** *** *** ******** that ******* *********, *** * *.**% rate *** ***** **** ******* ****, the ******* **** **** ** *** Tec ****. *** ************** **** ***** with **** *** ******* ***** ***** to ***** ************, ** **** ** they ******* *** ******** ******:
*.**% *** *** ***** ***********, ** long ** ***** ** * ********* [product, *.*. ******** ******** ********, *****, etc.], ******** **** *** **** ** include, ***** *************, *** *** **** to **.
***** **** **** **** *** ********* will *** ** *** *** ** June **** **** ***** ** ********** on *** ******* ****** *** ******* offers:
***** ********* ********, ***. (“***”), * wholly-owned ********** ** ***** *.*.*., ***., is ********* ** ********* ********** ***** financing *********, ** **** ** ** extraordinary ***** ** ******** *******. *** is ******** **** *******-**** ***** ********* for ******** *********because ** *** ********** ******* *** **** ** ** ********** ** *** *******. In addition, we are committed to offering the best value for customers. The ******* ***** ********* ** ******* ***** *** *** ** ****, ***** ******** ***** ********* ** ********* *** *** ********. [Emphasis added]
*** ******* *** *** ****** ******** regarding *** *** ***** **** ****** after *** ******* ******. ** **** emphasized ********* "*********** *******" ** *** following ********:
*****’* ******** ** ** ******* *********** pricing *** ***** ** *** *********.
*** ************** **** ********* ******** ** those *** ******** *** *********:
* ** * *** ** ***** and ** *** ********** ** ** the ***** ** *******. *** **** sell ** ****. ** *'* ***** doing ****** *** *** *** **** [with ***] *.**% [****]. * **** another ********** ** *********. **** ** this **** **** **** *** **** cloud.
Pricing ******* & ***********
*** ***** *** ** *** *** Axis ** *********, ******* ** ***** available ** ****. *** ************** **** IPVM **** *** ******** *** ********* Axis ** *********, *** ******* **** would ** *%-*% *** **** ******* deal *****:
** ** ******* ****** *%-*% ********* on *** ****** *******. ** ** depends ** *** ***********. **** **** from ***** ****, **** **** **** and ** ** **,*** ***** ** the ******** ***, *** **,*** ****.
*** *** ** ** **** *** product *** *** **********. *** *** transaction **** ***,***, ** *** **** on ** ******* **** ** *** if ***'** ***** *** ******* *******, lower ***********, *** ***** ******* ********.
*** ************** **** **** *** **** approves ~**% ** ********* *** ******* a ******** **** *** *** ********** of ***** ****** *******:
** ******* * **** ********** ** our ********* **** ** **** **%.
[***** ***] ******** ****** *** *****. That ** ******* ***** **** ********* us **** ***** ******* *********.
***'* *** *** **** ** ****** and ***'** **** ******** ******. [******] will *** **'** ******* *** *** we're ***** ******* *** *** * higher ******* *******, ****** ********, ****** yield, ****** *****.
** ***'* ** **** ** ******* you ******* *** **** ******** ****** or ***** ******, ** *** **** rate ****** *** *****.
** ********, ***** ********* ******** ***** end ***** ** **** ** *** off *** **** ******* ********. ***** 90 ****, *** **** ***** **** a *****, *** *** ******* **** during *** ** **** **** ****** customers' ******. ***** **** **** ***** invoicing ********* ***** *** ******* *** used **. *** ************** **** ****:
** **** *** *** ***** ** days ** *** ** ***. ** don't **** ****** *** ** **** [whether ** **] *** *******, ** payments, ** *** ********, ** **** pay ** ***, *** ********* *****'* turn **** * *****.
** **** ***'* *** ** ***. It **** **** **** * ***** and ** **** ******* ****. ***'* say *** * $***,*** **** **** made [*] $*,*** [*******] *******, ** will ******* **** *** **** $**** when *** ******* ** **** ** for *** ******, ** **** *** not *** ** ******* *** * year.
Business ***** *** ****** ********
*** ************** **** ***** ********* ******** only **** *** **********, *** ***** it ***** **** ***** *** *****-***** government *****, ** **** *** **** with ******* *****:
*** *** ************ *** *** ********. We ***'* ** ***********. ** ***** are ********** *** **** [*****, *****, education]. ** ***'* ** ******* ********** because ** *** ******** ****, ** don't **** * *** ******** ** have *** ** *** ********* ****. We ** ***** *** ***** ********* in *** **** ** *** ********.
** ******** ****** *******, *** ************** elaborated ** ***** ********* ********' ******** with *******:
* *** ** ******* ** ****, especially ** ***** ****. *'** **** a *** ** ********* ******** **** schools ** ********., ** *************.
**'** **** * *** ** ******* schools *** **'** **** * *** of ********* ******* ** ****.
****** ******* *** ***** ************ **** makeup **** ** ***** ********* ********' leasing ********, ********* ** *** **************. It ****** ** ******* *********:
**** *********** ***** **** ******* *** Axis *** **** *** [****] ******* on ******** ***** **** *** ***** put *******, ******, *******, *** ****** control *** ******* ***** *******. ** all ******.
** *** ** *** ***** ** verticals.
*** ************** **** **** **** **** the ***** *****'* **** **** ******** structure ******* *** **** ** **** more **** **** ***********:
*** ******* ** ** ** **** we **** **** ****. ** ** could **** **** **** **** ***** leasing *********
** ** ** *** ****** *******. [We ***] * ****** ***** **********. [Our ****** *******] *** **** **** and **** *******, ** **'** **** to ** ***** *********** ***'* **.
******* ** * ******* ********* **** that *** ********* **** **** ********* in ****.
Canon ********* ******** ******** ******** **** *********
***** ********* ******** *** ** * fully ***** ********** ** ***** ***. Its ********-******* ***** ****** ***** ***** the "******** ****** **********," ********* ** the **************. ***** ***** *** ***** verticals ****** *** ******** ****** **** including ********, ******* *****, *** **********, 4 ***** *************** *** ******* ** the ******** ********. **** ***** * of *** * ** ********:
*** ************** ****, ****** ***********, ***** Financial ********' ***** *************** ****** **** integrators *** ********* ** ****** *** activities:
** ** ********, ** ** *********, we ** * *** ** *****.
** ** ** ***** *****. * have **** ******** ** ******** ** the **** *****. [...] ** *** well-versed ** ********* ****** ** *** to ***** **** ** **.
** ** ***** *** ****** ** help ***********, *************, ************, *** ********** the *** *****.
Defaults *** ********
*** ************** **** ******** *** *** common *** ******** ********, *** **** in **** ** * *******, ***** Financial ******** ***** ***** ******* ******* of ********** ********* **** *********:
******** *** ********. *** [**] *** security [********] * ***'* *** *** many ********. ***** *********, *** *******, printers ***** *** **** ********.
** ***'* **** ** ** *** there.
*'* **** * ********** ** ********* like ****. ** ** **** ** go *** ***** **** **** *** they *** *** ****** ** ***, then **'** **** ***** ******. **'** not ****** ** *** ******** ** have ****** ** **** *** ********* up.
Forward-Looking ******
*** ************** **** ***** **** **** there ** * ******* ********** ********** of ******** ** ***** *** ***** customers:
* *** ** *** *********** * work **** ***, *** *** **** offered ******* ** *** ****, *** they [*** **** ** ******] *** they **** ** ***.
******** ** *** **, *** ******** market ******* ** ** **** ********* to *******, ********* ** *** **************:
****** **** **** ** ***** **********. They **** ** ***** *** ******* everything; ********* ******** ****** ** *****.
*** ****** ******, ***** ********* ******** is ********** ***** ****** ********* *** discussed *** ********* ***** **** ****:
** * ******* ********* ** **********, Canon ********* ********, ***.is ********** ******* ** ****** *** *********, and physical security is an area we are focused on, as well as a plethora of other arenas. Leasing enables the customer to pay for the equipment as it is being used, and lends to the efficiency and productivity of the business. Equipment can be leased today at a fixed monthly payment without the worry of price increases or rising interest rates. Once the lease is in place, upgrades of the equipment and add-ons can be very easily accomplished. [Emphasis added]
Axis' ********
**** **** **** **** ***** ********* Services' *.**% ******* **** *** "**** obvious ********" ** **** **** *** Canon, *** ** *** *** ******** focus:
**** ** * ***** ********* ******** financing *******, *** **’* **** ** say **** **** **** ** ***-******** financing *** ** **** ****** ** many **********, ***the ******* *** **** ******* ******** ** **** ************** *** *** ***** *****. That said, Axis itself is focused on delivering the best products and services to our partners and customers and sustaining the strong growth that we experienced in 2022. [Emphasis added]
Milestone's ********
** ***** ********* ********' *.**% ******* rate *** *********, ********* *** **** Larsen **** ****:
*'* *** ***** **** ** * big *****.
********* *** ** ******* ******** ****** this.
*******
************, ******* *** *** **** ****** (we ******** ***** *% ** *****) but **** ******* ******** *** ********** of ************ *****, ******* ***** ****** more ****. ********, ** ***** ******* on *** *********** ** **** *** Milestone ****** *** ********* *** ********* of **** ******, **** ***** ** a **** ** *** ***** *********.