IT finance provider Syscap has officially become a subsidiary of Wesleyan Bank following its 2015 acquisition, although it will retain its own brand.
From today, existing Syscap customers will be directed towards the Wesleyan Bank brand, while the Syscap brand will be dedicated to the IT channel, supporting its network of vendors and resellers.
Wesleyan Bank and Syscap jointly employ 120 staff from three UK office locations situated in Birmingham, New Malden and Northwich.
“We have seen a real shift from vendors simply thinking of finance as a way to overcome budget objections to using it to drive other buyer behaviour, from transitioning to SaaS models or encouraging customers to lock into longer term support and maintenance contracts,” comments Philip White, managing director of Syscap.
Syscap says the integration has enabled it to extend its payment solutions to cover software, hardware, services, maintenance and support. It also provides funding to assist IT vendors to invest in new technologies, such as datacentres, and increase margin on their deals by prime contracting customer contracts through purchasing the required partner services and licences upfront in bulk.
It adds that it has seen additional investment to strengthen Syscap’s partner portal to offer more relevant sales and marketing content, in addition to providing extended training and support services to better assist IT vendors and resellers.
There will be no changes to existing payment agreements for customers of IT vendors and resellers who have live lease or loan products with Syscap, or through one of its funding partners.
Says White: “We are now able to offer more focused support to our partners from a larger software development team behind our vendor portal right through to credit, business administration and front line account management.
“This is enabling us to run more successful sales and marketing engagements which are helping IT vendors and resellers remove potential barriers to sale and close more deals.”
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