Numbers are the linchpin of any business and serve as a barometer to help you measure your efficiency and progress. Often finance is perceived as a constraining factor and not as something that can be used creatively to drive commercial success.
At Wesleyan Bank we’d like to encourage you to think of finance in a fresh way and see the role that it can play in helping you achieve your strategic aims. Here are just some of the ways an innovative finance partner can take your technology business to the next level:
Acquisition – offering the funds to acquire other businesses either to extend market share or solution capability.
Establishment – providing the funds to acquire, move or refurbish premises, invest in or upgrade infrastructure and equipment, furnishing, vehicles and more. Competitive rates can also be provided on additional commercial finance products, such as insurance.
Rewarding and retaining staff – offering a compelling package of personal insurance products and fixed rate personal loans that can be offered to your staff as employee benefits. Similarly, providing the finance for Cycle to Work or home computer schemes.
Developing your value proposition – helping you differentiate your business with the provision of value added products and services to your customers, in addition to allowing them to pay for software, hardware, services and support over time, adding benefits such as discounted commercial or cyber insurance.
Helping you overcome cash flow pinch points – by allowing you to spread bills monthly rather than pay them as large one offs. Examples could be settling significant outgoings such as VAT or tax bills or membership and programme fees, plus registering intellectual property.
Supporting business specific goals – such as upgrading customers, cross selling or moving customers to a SaaS model by offering payment over time and providing services such as monthly billing.
Wesleyan Bank provides unique finance programmes focused on solving problems for IT and technology businesses. Often, vendors find themselves limited by financial constraints either caused by their own short term cash flow issues or their customers’ circumstances, which in turn impact on them closing deals.
But these aren’t the only challenges they face. Differentiating themselves in a busy market place and offering alternative deployment methods such as cloud are all very current issues that keep IT companies awake at night. By partnering with us, technology firms have a single point of contact that allows them to overcome these challenges and face the future with scope to grow.