IT business loans boom for IT sector

Vendor finance provider secures close to 30 new IT customers in first quarter

Syscap, as the organisation’s functions in New Malden and Northwich were known at the time, was the UK’s leading independent finance provider for IT, has welcomed close to 30 new IT resellers and ISVs as clients in the last quarter, marking a boom in the UK IT sector’s use of financing to fund new assets and services and achieve growth.

This 10% increase in IT clients follows the re-launch of its IT channel partner programme in April this year and shows that resellers and ISVs are choosing finance to make investments in cloud and subscription based services, and to expand their client base by offering more flexible payment options.

Some of our latest sign ups are also using its unique Support Funder product to finance services and support alongside traditional IT assets – including wireless solutions company APC Solutions and CAD software provider Desktop Engineering. Service funding is a key focus of ours which aims to help IT providers to deliver simple to buy, on-premise and cloud IT solutions with a single finance agreement.

In addition, other new IT sector clients include cloud solutions provider Outsourcery and CAD software provider Concurrent Engineering. They join a further 250 companies which are already benefiting from vendor finance programmes including Sage, Autodesk, Infor, Softcat, Viglen, Datel and Advanced Business Solutions.

Philip White, Managing Director of Syscap at the time said: “We’ve been helping companies invest in technology for 25 years now but have seen a sharp increase recently in the number of IT providers needing more flexibility as they change their own business model to a subscription base or need to help their customers reinvest in IT to innovate and grow. We allow them to collect cash up front whilst removing the overhead of monthly billing which we take on”.

It’s a point that both resellers and ISV’s support.

“The great thing is that we can include everything in one deal. So in addition to any hardware, the client can spread the cost of any support and professional services,” explains Don Finley, Managing Director of faIT. “Flexible finance allows them to spread the whole cost over the life of the asset. Here at faIT we take great pride in offering our clients the best value for money and a great service and I look for partners that do the same. Philip and co. tick all the boxes for us and our clients.”

“Swiftpage is committed to working with our channel partners to grow revenue by delivering a customer-centric sales process. Partnering with Syscap enables us to bring innovative funding solutions while Syscap takes care of the finance,” said Lindsay Boullin, Vice President and Head of Marketing and Operations for Swiftpage International.

For further information please contact us, or visit our IT Finance page