In a report just released by Kiplinger, author Matthew Housiaux states: “farmers have another tough year ahead. Farm income is expected to decline for the second consecutive year after a record 2022.”[1] As the agricultural sector braces for another challenging period, the importance of effective lead management and precise decision-making is more critical than ever. With the landscape evolving rapidly, the ability to identify equipment opportunities can mean the difference between stagnation and prosperity.
With profitability being squeezed from every side, ag equipment dealers and lenders might find some respite on the used equipment side. “Over two-thirds of agricultural equipment dealers anticipate flat or declining revenue in 2024, though demand for used tractors, combines and more will likely hold up better.”[2] In last month’s Used Equipment Trends, values for used combines, small tractors, and large tractors have all seen steady increases in value over the past year.
FOR DEALERS
How can you ensure your inventory doesn’t become a profit drain?
Dealers face the perpetual challenge of balancing risk and profit in a volatile market. Iron Solutions understands this struggle and arms dealers with real-time valuation data to navigate the labyrinth of pricing and inventory management. With access to up-to-the-minute information on trade values, dealers can avoid inventory pitfalls that erode margins, thus safeguarding profitability.But Iron Solutions doesn’t stop there. Their suite of solutions provides dealers with more than just data—it offers actionable insights to inform marketing strategies, pricing decisions, and targeted promotions. With lead management tools, dealers can pinpoint the most promising prospects and cultivate enduring customer relationships, all while staying one step ahead of the competition.
FOR LENDERS
How can you provide quick answers while minimizing risk?
Lenders operate in a high-stakes environment where swift decisions and risk mitigation are paramount. Iron Solutions recognizes these imperatives and equips lenders with the tools needed to expedite the lending process without compromising accuracy or prudence. Through seamless integration with existing systems, Iron Solutions’ API products ensure that valuation data seamlessly interfaces with lenders’ applications, enabling rapid assessment of loan and lease applications. But speed is just one facet of the equation. Iron Solutions goes a step further by providing lenders with both current and forecast values, empowering them to assess risk not just in the moment, but with an eye toward the future. With access to a vast database of transactional data and robust valuation models, lenders can make informed decisions that bolster portfolio management and drive sustainable growth.
Enter Iron Solutions, a stalwart in the realm of data-driven solutions for over 80 years. As one of their key tools, IronHQ, emerges as a beacon of hope amidst uncertainty, offering a comprehensive suite of features designed to streamline lead management and enhance profitability for both dealers and lenders.
“Honestly, our margin percentages have increased because of the ability to plug in all the related costs at the time of purchase. It makes sure we don’t miss that important data. The tight ag economy has hurt our margins, but it would definitely be worse if we didn’t have IronHQ,” so stated Scott Grundstad is Director of Sales for Plains Ag Group upon implementation of IronHQ for the multiple locations of his dealerships.[3]
In an era defined by uncertainty, Iron Solutions stands as a steadfast ally, arming dealers and lenders alike with the tools needed to navigate turbulent waters and emerge stronger on the other side. With IronHQ as their cornerstone, businesses can seize opportunities, mitigate risks, and chart a course toward lasting success.
1. Farmers Face Another Tough Year As Costs Continue to Climb
2. Farmers Face Another Tough Year As Costs Continue to Climb
3. How an Ag Dealer Merged Its Way into IronHQ®
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