Representatives of top local companies gathered in Rosebank yesterday for the official launch of InnoVent Rental and Asset Management Solutions, which outlined its plans to take market share locally with a view to expanding throughout the continent.
InnoVent is a black-owned and managed company that has partnered with Royal Africa Gateway and Sasfin Bank to provide asset management services and rental solutions through a residual-based model.
"We have weighed up the competition and believe we have the right customer-centric, long-term relationship approach that existing asset rental customers are seeking," says DJ Khumbula, InnoVent CEO.
He says the company plans to win market share through products and services backed by experience drawn from the asset rental industry.
Khumbula is optimistic about InnoVent`s chances of success. "In the nine months since we started, we have already signed deals with four major clients. I am extremely satisfied with our progress."
"InnoVent is able to rent assets at lower rates than banks because we`re residual risk-takers on the future value of the asset on a well-established secondary market for refurbished assets," says Zakhe Kuzwayo, InnoVent CFO.
"InnoVent is not just about providing financial solutions," says Khumbula. "Asset management and tracking are an integral part of the overall solution."
Khuzwayo adds: "Knowing the exact status and location of all assets at all times prevents any nasty surprises sometimes associated with rental agreements."
Khumbula says InnoVent`s initial customers will come from the rental industry`s existing customer base looking for a closer relationship provided by dedicated relationship managers, but adds that much of the market remains untapped.
"The biggest challenge is persuading companies to switch from owning rapidly depreciating assets in favour of renting them with a package that includes insurance, upgrade flexibility and disposal," he says.
Share
