How do you make sure that your LED Screen supplier is as reliable as they say they are? This is a very important question, which anyone considering to purchase a LED Screen should ask themselves. Here are two true stories from LED billboards owners which you can learn from:
The Story of Mr Nikos from Cyprus
A few months ago we received a request from Mr Nikos from Cyprus. One of our best sales representatives (who is in charge of that region), started to follow-up the request, providing advice and support as per our standard.
Despite all our efforts, at first Mr Nikos seemed not to trust us and we couldn't understand why. When his order arrived it was a great moral satisfaction despite the fact we still didn't know why he was so sceptical at first.
We only discovered the reason behind his doubts when he sent us the feedback-form which all our Customers fill-in one month after the product has been shipped. From his answers we finally understood the reasons for his scepticism…
Send the Money Now Because Tomorrow We Are Broke
We learned that, at the time of our first contacts, he had a hard time trusting any LED video walls supplier on the market because 5 months earlier he had ordered a LED screen from a company only to discover - after he made the down payment - that the company had closed due to the economic crisis (you can read his entire review in the "Clients" page).
When you lose thousands of Euros (10.000, 30.000 or even 50.000) with a down payment to a company that 2 weeks later files for bankruptcy, I'm sure anyone would have a trust-issue.
Is It that Much Better if they Close after 6 Months?
But what happens if the supplier manages to deliver the screen to you, but then closes after 1 month, 6 months or even 1 year? Will this make you feel much better?
Chances are that you will not be so mad because at least you got the LED screen, but you probably won't be thrilled either. Who will provide you with technical support from that point on? Where will you find the spare parts for the LED screen? What if there is a problem that your technician can not resolve on his own?
Buying Expensive Products Is Like Choosing a Spouse
When you purchase high value equipment, such as an LED screen, you are not just buying a product. You are also choosing a partner company. It's almost like a marriage, so you'd better make sure that your partner will be there for you when you need him.
Would it have been possible for Mr Nikos to predict that his supplier would go bankrupt? How could he have avoided wasting his money? Is there a way for you or anyone to avoid the same, disastrous pitfall?
Luckily governments of most Countries put several tools at the disposal of potential Customers that want to check the reliability and solidity of potential suppliers before they make their investment, in order to avoid unpleasant surprises…
The Story of Mr Antonio
A few days ago I met a couple of potential Customers that came to visit our facilities. I was introducing them the Company, but after I said only a few words, one of them, Mr Antonio, stopped me and said:
"Fabio, please don't waste your time and mine as well. I studied EuroDisplay's annual report and those of your competitors well before planning this visit. There is nothing about the Company that you can tell me that I don't already know".
"The reason why we are here is because you have the best annual report among Italian suppliers and your productivity-per-employee is approximately double than other Italian suppliers. So don't waste time to describe me the Company and let's talk about the deal instead."
I was quite shocked by the sincerity of his words and accurateness of his analysis… so I didn't ever mention a single word about the Company anymore that day.
How to Make Sure Your LED Screen Supplier Is Healthy
Now, my guess is that if Mr Nikos from Cyprus would have had the chance to look at the annual report of his supplier before he made the down payment, he probably would have noticed that the company was not healthy to survive the economic crisis. He would have made a more informed choice and maybe he would have considered another supplier - saving thousands of euros.
How to Get the Annual Reports of Your Suppliers
Let's say that you now want to check the reports of several potential suppliers. Would you know how to do it? Who do you call? Where do you get them?
It's a Public Document, Not Covered by Privacy
The easiest way is simply to ask your potential supplier to provide you with his annual report. It doesn't get simpler than that!
In fact, the information found on an annual report is of public domain by law, at least in Italy. So if you hear excuses such as "Oh, ehm… I can not send it because it is protected by privacy regulations", than start to wonder why they don't want to send it to you.
The law does not force companies to make their reports available to Customers (unless they are traded in the stock-exchange), but if they had a good annual report, they certainly wouldn't have any problem forwarding it to you. Actually why wouldn't they show it to anyone who asks for it if they had nothing to hide?
In case your potential supplier is not so collaborative - and in case you still want to work with them - the official way to get the document is by contacting a Chamber of Commerce in the Country of the supplier.
How to Get Any Annual Report from the Chamber of Commerce
For example, if you are evaluating an Italian supplier, you can contact any branch of the Chamber of Commerce or simply follow these 3 simple steps (valid for Italian suppliers only):
- Download this form, print it and fill-it with the information required
- Make a bank transfer of EUR 4,50 to:
Intesa Sanpaolo Spa
IBAN: IT68 I030 6909 4006 1524 6092 056 / SWIFT: BCITIT33100
Beneficiary: Camera di Commercio Industria Artigianato e Agricoltura di Milano
- Send the form and a copy of the payment via fax at the number: +39 / 02-8515-4733
Information Empowers You
If you don't want to waste your money, next time you consider purchasing a digital billboard, make sure you invest in the right supplier. Don't listen to a salesman that tells you how good they are and how bad the competition. Take the time to look at the numbers.
Use the procedure above to request all the annual reports of your potential suppliers and compare them, side by side. And if you have any doubts on how to read the data, ask your accountant to help you out - I promise it will be well worth it.
With EuroDisplay It's Even Easier
As a further tangible proof of its ultra-decennal commitment to Total Quality and transparency, EuroDisplay makes its annual report publicly available for free to anyone who will request it. Just fill in this form and send it to us via fax at the number +39 / 011-954-1017. So you have one less report to ask for.