HardSoft ltd recently expanded its services with Block discounting from Siemens Financial Services (SFS). HardSoft Ltd is a leading one stop leasing and IT solutions experts. It has been operating since 1984, offering expert advice on various sectors like technology and financing and providing business with utmost securely optimized hardware , software and IT solutions and infrastructure.
In the month of January 2019, the company opened to expanding its operations by funding the leases they provided. They also enabled the business for a better support for their existing customers as well as their new and potential customers. The company gradually developed from drawing from their own working capital to facilitate the services and was able to improve the overall experience as an end result.
Philip Morgan, the managing director at HardSoft Ltd explains that their niche is to support customers all the way by providing an excellent service and so, the freedom to do that without having to rely on the approval from the underwriters was very important to them. As a demand for the funding service they grew, they saw that they needed an external support and then, a trusted associate recommended Block Discounting from SFS.
Block Discounting allows a business to release the capital which is tied to the customer finance agreements. Their products provide a business opportunity with quick access to a revolving credit facility which makes way for the business to raise funds against future income needs. Block Discounting creates an instant credit line by providing access to an agreed fund at an agreed discount for the value of current finance assets. Funds can let out as and when there is a need for it and the advance is repaid at a fixed price over a set period, which gives the company the confidence to its cask inflow.
Philip also stated that the access to the credit facility has been game changing for them especially in the current financial situation of the economic recession and the pandemic. They have total autonomy to support their existing customers and the news on onboard, even in the hardships.
SFS enabled a smooth process for HardSoft, as the team met with HardSoft to understand the business’ needs and saw how it could support their cause. As the company had demonstrated their ability to run at a smaller lending book, the team at SFS took it very well and understood how expansion of the company’s access to funding would open so many doors and help to grow the business further.
Philip explains that Block Discounting is definitely the simplest solution for they can ever ask as it lets them to invest in the business and gives complete access to the reliable source of funds. They have also found an amazing match in SFS as they know that their Account Manager is just a one call away, or in the other end of the phone guiding and managing the finances and with the equal freedom to make their own decisions as well, to run the operations as they see it fit in. The facility has the versatility to measure in line with the business growth, meaning that HardSoft can carry on with its offers of funding to more new and continuing customers without running out of their own credit line.
Gurpreeth Virdee, account development manager at Siemens Financial Services said that they had already seen the arrangement with HardSoft Ltd grow as their demands increased for their services at those times when access to IT solutions was essential for many businesses and that it has been a delight working together.