True Analytics™ - Energy Savings, Comfort, and Operational Efficiency
EMAIL INTERVIEW – Matt Worth and Ken Sinclair
Matt Worth, VP & GM, Noesis, a LeaseQ company
Matt Worth has 20 years of experience in professional services leadership and has worked in Software as a Service (SaaS) since 2001. Prior to joining Noesis Matt served as Vice President Professional Services Market Lead at E2open, aiding the supply chain SaaS provider in its successful journey to IPO. Matt also served as Vice President of Professional Services with Perfect Commerce, a leading provider of SaaS e-procurement solutions. Matt spent the first eight years of his career performing strategy and process consulting with PricewaterhouseCoopers and Andersen Consulting. He holds a B.A. from Cornell University and an M.B.A. from Rice University. To learn more about Noesis, a LeaseQ company, please visit: https://www.noesis.com/site/
Sinclair: Tell me a bit about Noesis, a LeaseQ company, and your role?
Worth: Noesis is a
commercial financing marketplace for mechanical and electrical
equipment. In November 2016, LeaseQ acquired Noesis to add
specialized expertise in the utility industry to its expansive online
equipment finance marketplace. Noesis and LeaseQ work together to match
companies looking for a loan or lease, with equipment sellers and
leading financial lenders, to get the best financing terms and rates
available, retain cash and grow more rapidly. Industry leaders in
controls, lighting, and HVAC have chosen this solution to accelerate
sales by offering monthly payment options to their customers. The
Noesis financing marketplace empowers equipment vendors with
capabilities that no other lending source can provide, including
instant online quotes, access to 100+ lenders that cover credits from
A-D, and best in class sales tools that help vendor sales teams
highlight energy efficiency benefits to building owners.
As GM at Noesis, I wear a lot of
different hats, ranging from setting strategic direction to customer
relationship management. My favorite part of the job is working
with sales leadership at equipment vendors that are adopting financing
programs for the first time. I help them incorporate the new
solution into their sales process and realize the improvements to
customer service and sales.
Sinclair: Can you explain the role of equipment financing in the commercial building equipment industry?
Worth: When owners are
forced to replace failing building equipment, it is commonly seen as a
necessary evil that will consume capital budget that had been earmarked
for something else. Equipment financing can alter that
calculus. Building owners no longer have to settle for the lowest cost,
“like for like” replacement equipment. They can use equipment
financing to acquire more expensive but more efficient equipment that
will save them money and provide them return on their investment.
In that light, equipment replacements are transformed from a dreaded
sunk cost to a cash flow generating investment.
What are the benefits of using
equipment financing to secure building controls, elevators, HVAC
systems and other necessary building equipment?
Worth: There are three primary benefits to using equipment financing for building equipment:
How can buildings use equipment financing to keep up with trends in building automation and energy efficiency?
financing allows building owners to turn equipment replacements into
investments in their facility. Investing in sophisticated
building automation solutions can help building owners increase cash
flow, earn higher rents, raise occupancy rates and improve occupant
productivity. Those benefits translate to bottom line
Can you give us an example of a building project that’s been successful in using equipment financing?
Worth: We recently helped a commercial office building owner in Dallas. Tenants were complaining to ownership about comfort levels, and occupancy was at risk. Instead of just trying to repair the old mechanical systems, the building owners elected to invest in upgrading the Building Automation System and convert VAV boxes to Direct Digital Controls (DDC). The upgrade cost $225,000 but entailed savings of over $120,000 per year and payback of fewer than two years. Financing helped the customer fund and implement the project immediately, and their monthly energy savings were more than double their monthly finance payments.
Any other pieces of advice for our readers? Where can they contact you for more information?
Worth: Building owners
don’t necessarily have to wait for existing equipment to fail before
they consider replacing it. Upgrading your building’s systems is
a good business investment, and with financing, within easy reach. You
can contact me directly at firstname.lastname@example.org and learn more about us by visiting: https://www.noesis.com/site/
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