Payment over time option assists Altinet to land key deal with Best Western Great Britain.
Cyber Security Business
Altinet UK is a specialist IT security and storage value-added reseller (VAR) with big plans for the future. The company works with public and private sector clients to design and implement a wide variety of solutions to meet the ever evolving IT infrastructure landscape.
Since its formation in 2013, Altinet has achieved over 200% year-on-year growth and moved into a new city centre office in Leeds last year to accommodate its rapid rise and attract the area’s leading industry talent. The ambitious VAR is on course to triple its headcount in the next four years and employ 60 staff by 2019.
Making cyber security available for more organisations
Altinet works in a consultative way with its customers to provide robust solutions which fulfil their individual requirements on each project. The company’s key differentiator over its competitors is that it can offer market-leading and emerging technologies from a number of global vendors, such as Barracuda, Bloxx and Pure Storage.
Henry Doyle, Director at Altinet UK, explains, “In order to safeguard their users and networks, clients are increasingly seeking highly sophisticated cloud products. These solutions can be very expensive when purchased on a five-year contract and some organisations do not have the necessary CapEX budget to afford the solution they need.
“We are able to offer our customers five-year agreements paid annually. However as we have to commit to paying upfront for the products we provide from our partners, we needed to find a means of achieving profitability earlier instead of having to wait until the fifth year in order to sustain our growth levels.”
Building a tailored finance solution for data security
Establishing long-standing relationships with corporate businesses forms a key element of Altinet’s expansion strategy. The company decided to seek a specialist finance partner who could help to close more long-term and high-value deals by making it easier for customers to enter into flexible, affordable agreements which spread the cost of their investment.
Our extensive finance solutions give end users the ability to extend their access to capital by introducing payment over time options to fund major investment in new software or hardware. In turn this ensures IT vendors and VARs’ solutions and services are easier to buy and they do not have to suffer financially as a result of offering longer payment terms.
Henry comments, “We found them extremely approachable when outlining our requirements and they explained how the process would work in simple terms. This was in contrast to other finance companies we looked at who appeared to make things unnecessarily complicated.
The direct results and benefits to our channel partners
As a direct result of working with Wesleyan Bank as a finance provider, Altinet has secured a significant five-year deal with a leading hotel chain that was seeking to invest in new business critical IT storage technology and associated services.
The customer, Best Western Great Britain, rolled out a complete storage solution from Altinet which delivers easy data replication to the cloud to ensure enhanced information retention and management. By backing-up vital financial and marketing data, such as booking histories for its hotels in the UK, Best Western improved data recovery time by 75%.
“Wesleyan Bank’s finance solution was instrumental in us being able to bring this significant piece of business over the line. By offering Best Western a simple payment over time agreement for all of the solution elements the deal became a ‘no brainer’ for the client. Negotiations were also concluded extremely swiftly once the terms had been agreed.
“As a dedicated IT finance specialist, we had the trust and confidence in Wesleyan Bank to allow them to deal directly with Best Western. As such, Wesleyan Bank Account Manager Grant Toshack was extremely proactive in ensuring the process progressed smoothly and was a single point of contact throughout,” commented Henry.
The future ix looking safer for many companies
Altinet’s goal is to achieve 50 to 100 per cent revenue growth each year and feels that its blossoming partnership with Wesleyan Bank is pivotal to it achieving its aims.
“Maintaining outstanding relationships with IT vendors and our customers is what sets us apart in a highly competitive marketplace. As our preferred corporate finance provider, Wesleyan Bank’s vendor team is assisting us to win more deals by alleviating end users’ cash flow concerns.
“Dealing with Wesleyan Bank couldn’t be more straightforward. They are prepared to do the lion’s share of the work to ensure our deals are closed,” adds Henry.
If you too want to benefit from offering finance you can apply to join our partner finance programme with no monthly or subscription cost and start offering finance on your products in less than 48 hours.