Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.


HardSoft keeps customers connected with Block Discounting from Siemens Financial Services

One-stop leasing and IT solution expert HardSoft Ltd has expanded its offering with Block Discounting from Siemens Financial Services (SFS).

HardSoft has been in operation since 1984, offering expert advice on technology and financing, and providing businesses with secure optimised hardware, software & IT infrastructure solutions.

In January 2019, the company wanted to expand operations by also funding the leases it provides, enabling the business to better support existing customer as well as potential new ones. The company initially drew from its own working capital to facilitate the move and was already able to improve the overall customer experience as a result.

“Our niche is supporting customers all the way by providing an excellent service,” explains Philip Morgan, Managing Director at HardSoft Ltd, “so the freedom to do that without relying on approval from underwriters was critical for us. As demand for the funding service grew, we saw we needed external support and a trusted associate recommended Block Discounting from SFS.”

Block Discounting allows a business to release capital which is tied up in customer finance agreements. The product provides a business with instant access to a revolving credit facility enabling the business to raise funds against future income streams. Block Discounting creates a credit line for businesses by providing instant access to an agreed fund, at an agreed discount to the value of current finance receivables. Funds can be released as and when required and the advance is repaid at a fixed price over a set period, giving the company confidence in its cash flow.

“Access to the credit facility has been game-changing for us, particularly in the current context of economic recession and the pandemic,” continues Philip. “We have total autonomy to support existing customers and onboard new ones, even in these difficult times.”

SFS facilitated a smooth process for HardSoft. The team met with HardSoft to understand the business’ requirements and see how it could support. As the company had already demonstrated its ability to run a smaller lending book, the team at SFS understood how expanding the company’s access to funding would help to grow the business.

“Block Discounting is definitely the simplest solution for us,” explains Philip. “It lets us invest in the business and gives us access to a reliable source of funds. We’ve also found a great match in SFS because we know our Account Manager is just on the other end of the phone but we’re also left to our own devices to run operations as we see fit.”

The facility has the flexibility to scale in line with business growth, meaning Hardsoft can continue to offer funding to more new and continuing customers without exhausting its own lines of credit.

Gurpreet Virdee, Account Development Manager at Siemens Financial Services adds: “We’ve already seen the arrangement with HardSoft grow as demand increases for their services at a time when access to IT solutions is essential for most businesses. It’s been a pleasure to work with their expert team and we look forward to building this relationship in the future.”

Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts