Syscap Executive – Top 50 Influential People in Asset Finance

1 July 2016 – Philip White, Managing Director of Syscap and Commercial Director of Wesleyan Bank, has been named in the Leasing Life ‘Power 50’, an annual list which acknowledges the top 50 most influential people in the asset finance industry across Europe.

The fourth edition of the Leasing Life Power 50 has received more input than any previous year, with nearly 1,100 people casting votes over a two week period. Voters were asked to nominate up to five people in the European leasing arena who they thought deserved to make the final shortlist.

This year’s ‘Power 50’ was dominated by senior figures working for lessors (31) with advisers from law firms, consultancies and accountancy firms making up the second largest category with ten people. The other nine entrants on the list consisted of brokers, trade association members and technology providers.

Philip White has been part of Syscap, the UK’s leading IT finance provider, for more than two decades progressing from Sales Director to Managing Director. More recently, he assumed a duel role as Commercial Director of Wesleyan Bank after Syscap was acquired by specialist mutual financial services provider Wesleyan in 2015.

White has played an instrumental role in overseeing the subsequent integration of Syscap as a subsidiary of Wesleyan Bank and has helped to spearhead a new strategic direction under two distinctive brands. From 1 April 2016, Syscap customers comprising professions, educational institutes and SME businesses transitioned to Wesleyan Bank with the Syscap brand being reserved exclusively for IT vendors, resellers and distributors. The combined division forms a formidable financial services business offering tailored and commercial banking solutions to over 22,500 customers.

The integration has already proven a success with the division achieving a 97% growth in commercial lending for January-May 2016 compared to the same year-on-year period in 2015. In addition, significant investment has been made in improving digital service capabilities, including Wesleyan Bank’s recently launched Tax Portal for customers who would prefer to transact their business online, along with Syscap’s upgraded Partner Portal which enables IT vendors and resellers to close more deals using the company’s payment over time option.

Philip White comments, “I’m proud to be recognised by the readers of Leasing Life and my fellow peers for the contributions I have made to the industry. To appear on the Power 50 alongside such highly esteemed figures is an achievement I would not have been able to make without having a hugely talented and hardworking team behind me.

“2016 has seen us make excellent strides in building a growing, successful and sustainable business which puts the long-term needs of our customers first. Wesleyan is also committed to drawing new talent into the financial services industry and we are investing heavily in our apprenticeship scheme to attract and nurture the future leasing talents of tomorrow.”

Choosing The Right IT Finance Partner

There are several reasons why IT vendors should consider partnering with a business finance provider:

  • Increased sales volume at a higher margin
  • An accelerated sales cycle and improved customer retention levels
  • Potential to drive more revenue whilst maintaining within budgets

By overcoming common buying objections around cash flow and budgetary constraints, IT finance can give end users the flexibility to extend their access to capital by introducing payment over time options to fund major investment in new software or hardware. In turn this ensures your solutions and services are easier to buy whilst enabling your customers to remain competitive and maximise operational efficiency.

Business finance helps to attract and convert sales prospects who couldn’t otherwise afford your solutions by allowing them to spread the costs on a monthly basis, as opposed to having to commit to software licence and support fees up-front. This option is increasingly appealing to organisations who are looking to transition to the latest cloud technologies and motivated by the elasticity and time to market IT finance provides. There are obvious cost advantages to be gained too by moving from a traditional Capex to an Opex model through the ability to offset IT expenditure as an operating expense rather than an equipment asset, with reductions in tax further benefiting a business’s bottom line.

Increasingly more vendors are looking to include the cost of implementation in their finance offerings, whilst deferring the first payments until after the installation is complete. This makes the sale much more palatable when presenting to your customer and justifies the internal rate of return (IRR) when they are assessing the benefits of potential investments.

Despite the obvious benefits, there are a number of considerations IT vendors and resellers should make before deciding which partner is right for them to differentiate their sales model against their competitors. When it comes to business finance, one size certainly doesn’t fit all. At the outset it’s vital to determine what your primary objectives are before outsourcing to an IT finance programme.

Do you want to make your customers more ‘stickier’, as in the case of Autodesk who were able to move more customers onto multi-year renewals using Syscap Finance. Or, perhaps you’d like to increase your average order value and acquire more customers by positioning finance as a better way for them to pay? It’s important to choose a finance partner who not only understands your goals and is prepared to work closely with you to achieve them, but one that also has an implicit understanding of the IT industry with a demonstrable track record of working with leading software vendors.

Vendors should seek an IT finance partner who can offer tailored training programmes, managed by one dedicated point of contact, which are supported by specialist marketing collateral to help sales teams close more deals. Syscap can provide training, in regular modules, to bring all of your sales colleagues up to the same level of understanding. The training can also be delivered within a ‘workshop’ environment which is more interactive and typically yields excellent results.  At Syscap, we have run a number of successful rewards programmes with great prizes to acknowledge sales people for good performance. Furthermore, this helps to better engage and incentivise resellers to increase their conversion rates and margins.

Understandably, you want to choose a partner who is the right fit for your customers but in the long-term they must also be the right fit for you. After recently completing our integration into Wesleyan Bank, Syscap is now focused exclusively on the IT channel which means, more than ever, we are able to strengthen our support and service to IT vendors and resellers.

But what does this mean to you? Additional investment has been made to strengthen our partner portal to offer more relevant content, in addition to providing extended training and support services. We are also committed to helping our partners to grow by providing funding to finance investment in new technologies, such as data centres. In addition, we assist partners to increase margin on their deals by prime contracting customer contracts through purchasing the required partner services and software licences upfront in bulk.

Don’t let IT budgets stifle your business growth. If you want to successfully embed finance into your operational processes and remove potential barriers to sale, contact us for more information about how the Syscap Partner Programme can help.

Syscap Focuses Exclusively On IT Channel

Leading IT finance specialist strengthens support and coverage for IT vendors, resellers and distributors.

1 April 2016 – Syscap, the UK’s leading IT finance provider, today announces it has become a subsidiary of Wesleyan Bank. The completion of the integration forms a formidable commercial financial services business offering tailored banking solutions to over 22,500 customers under two distinctive brands.

Wesleyan Bank is a wholly owned subsidiary of Wesleyan Assurance which is part of the specialist financial mutual, Wesleyan Group. Following the Sycap acquisition by Wesleyan in February 2015, which was in part due to aspirations to grow long term lending book in the SME & IT asset spaces, this move demonstrated the combined desire to harness expert knowledge in the professions market to the fullest extent. Together the Bank and Syscap employ 120 staff from three UK office locations situated in Birmingham, New Malden and Northwich.

From 1 April 2016, existing Syscap customers comprising professions, education institutes and SME businesses will be directed towards the Wesleyan Bank brand while the Syscap brand will be reserved exclusively for IT channel activities to support its network of vendor partners and resellers.

Philip White, Managing Director of Syscap, comments, “Syscap has been at the forefront of the IT finance industry for over 25 years. More recently, 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.

“Wesleyan, with its ethical and customer centric approach, was a natural home for Syscap and has allowed us to significantly invest in people, processes and systems to benefit our partners and their customers to accelerate mutual growth.”

The successful integration has enabled Syscap to extend its comprehensive payment over time solutions to cover software, hardware, services, maintenance and support. It also provides funding to assist IT vendors to invest in new technologies, such as data centres, and increase margin on their deals by prime contracting customer contracts through purchasing the required partner services and licenses upfront in bulk.

Additional investment has been made 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. To keep things simple, 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.

White adds, “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.”

Looking for commercial insurance, funding or finance? Visit Wesleyan Commercial Finance.

Syscap Is Changing – Vendor Finance Focus

Syscap is a subsidiary of Wesleyan Bank

Syscap was acquired by the Wesleyan Group in February 2015 and is a subsidiary of Wesleyan Bank Ltd. Wesleyan is a natural home for Syscap, due to its focus on the professions market and aspirations to grow its long term lending. Being part of the Wesleyan has allowed us to invest in people, processes and systems as well as extending our product offering which now includes corporation & partner Tax, VAT funding, fee funding, WIP funding, insurance, as well as a range of personal finance products for business owners and professionals. We also offer comprehensive payment over time options to partners for their customers covering software, services, maintenance and support.

Behind the scenes we have been working hard to integrate our activities in an appropriate manner taking into consideration our customers, brands, distribution and account management support. From 1 April 2016 we have decided to reserve the Syscap brand exclusively for our channel activities and move our professions, education and SME business to the Wesleyan Bank brand.

What does this mean for me?

We are fit for growth. We have a bigger team supporting you from the software development team behind the vendor portal right through to credit, business administration and front line account management.

We are keeping it simple. If you or one of your customers already has a live lease or loan product with Syscap or one of our funding partners, there will be no change to this agreement or the way and frequency with which you make payments to us.

We have a dedicated channel just for you. Over the coming weeks our website and social media pages will become dedicated to our IT vendor partners only, giving you more relevant and focussed content and updates. Make sure you keep up with our latest news and announcements by following us on LinkedIn, Twitter and Facebook where we’d love to have your review.

If you’re in the medical, dental, legal and teaching professions, or are an SME, you will find all relevant content at www.wesleyanbank.co.uk.

Why Syscap?

Syscap’s IT finance programme is the largest of its kind by membership in the UK and features 13 of the UK’s top software vendors and over 350 IT resellers as partners. Our clients include Sage, Autodesk, Infor, Concurrent Engineering and Advanced Business Solutions. With 25 years experience and a wide portfolio of products we can tailor an appropriate payment over time that benefits both you and your customers.

SMEs owed £225bn – Looking to IT And Asset Lending

More than half of SMEs are owed money, with a total of £225bn outstanding in late payments. As recent headlines about Tesco payment practices have brought this issue into focus, it is clear that many SMEs look to small business loans to assist cash flow.

According to a survey by Zurich of 600 SMEs reported by SME Insider, 67% of businesses report that late payment is the biggest cause for companies going into insolvency.

The amounts owed by creditors can be significant. Around one in five (20%) of the businesses surveyed said they were owed £25,000 or more, while one in ten said they were waiting for payments of over £100,000.

SME financing is a pressing problem for small businesses; 41% say late payments place significant pressure on their cash flow and 49% think the government is not doing enough to help.

Since the Tesco scandal, there have been gestures towards addressing the problem. A small business commissioner has been mooted, and from April large companies will be required to disclose details of their payment practices.

The Federation of Small Businesses is also promoting a voluntary Prompt Payment Code, which enforces a 30-day payment term as standard with a 60-day limit, but many firms will still rely on SME business loans to smooth their finances.

Jason Eatock, head of SME at Zurich, said: “We have been warned about a ‘cocktail of threats’ to the economy, and small businesses will need all the capital at their disposal to weather this potential storm.”

“In an uncertain economic climate, it is imperative that SMEs receive the support and guidance they need to adequately address the central concerns threatening the viability of their businesses.”

Does your company need SME funding? Why not talk to Syscap about how we can help support your business?

Eight simple marketing tactics you can do today!

Marketing is one of those disciplines that can be a bit daunting. There are mysterious processes, calculations and jargon that make you feel like a hopeless outsider. While it’s certainly true that qualifications and experience in marketing are valuable assets, there are also some simple steps you can take with no experience at all to boost the value of your brand.

Here are some ideas of how you can improve your marketing without investing in specialist resource.

1. Have a strategy
If you are doing any marketing activity at all, it is important to know what you are trying to accomplish: who you are trying to reach and what action you want them to take as a result. It’s too easy to see marketing as a tick-box activity which requires you to have adverts, social media presence or newsletters – these might be a waste of time if they do not suit your audience. For example, your strategy will be different if you’re a B2B organisation than if you sell directly to the public.

2. Know your value
Before you start reaching out to people, you need to know what you are going to say. For this, you need to know your unique selling proposition (USP); the thing that makes you different and preferable to your competitors. You might be the best value, the highest quality, offer the most comprehensive service or the best convenience – whatever it is, it should be centre stage in all your marketing communications.

3. Build an audience
Once you know who you want to reach and what you want to say to them, it’s time to work on building a mailing list – whether for email or direct mail, or in the form of Facebook likes and Twitter followers. The more loyal customers you are able to reach, the more likely it is that they will use your services or buy your products again. How to build up the list? Encourage email sign ups, do a guest column in a newspaper, comment on relevant articles; there are many methods, but they all take patient, diligent work. Don’t expect thousands of sign ups overnight, it takes time.

4. Use metrics
When it comes down to it, marketing is a numbers game. Some elements of activity are about developing relationships and strengthening brand values, but ultimately you want more visits, more clicks, more conversions and more money. This data should inform your activity and prevent you from wasting funds on activities that do not work. If you’re not collecting this data, start: tools like Google Analytics and Facebook Insights will help.

5. Develop quality content
Content is the stuff you use in marketing, whether it’s text, video, sound or imagery. It’s worth producing original content and spending time on getting it right. Use plain and simple language, keep it fairly short, and make sure it will be interesting to your audience. Use lots of images – although buying in stock photos should be a last resort, as they tend to look staged and artificial.

6. Social media
Commerce is increasingly linked to social media, whether it’s handling customer complaints, promoting new products or offers, or simply building relationships with customers. People will expect you to be on social media and reward you for maintaining an active and engaging presence. Post friendly, relevant content that is designed to appeal to your core audience.

7. Consider affiliate marketing
If you’re building up your business, it’s quite likely you know someone who is not a competitor but has a similar target market to yours. Affiliate marketing is a win-win arrangement where you share each other’s content in order to reach a wider audience. On social media, this can involve offering the chance to win a prize of the affiliate’s products if people sign up for your newsletter.

8. Learn about SEO
Search engine optimisation (SEO) is about making your site and content appeal to search engines as much as possible. Engines like Google use algorithms to rank sites according to a whole host of factors. The finer details of SEO are complex, but there are basic steps you can take yourself to boost your ratings. Take the time to find out about elements like keywords, page formatting and alt text for images so you can maximise your content’s SEO value.

These simple marketing tips will help your business grow. Even the simplest changes can bring results. If you’re considering an investment in marketing or any other service to help develop your company, why not talk to Syscap about your financial options?

Syscap’s Sean Read awarded Leasing Foundation Fellowship

Syscap’s sales and marketing director, Sean Read, has been awarded a fellowship by the prestigious Leasing Foundation. Supporting the leasing and asset finance industry in Europe, Asia and Africa, the foundation seeks opportunities to help sustain the industry through charitable activities and relevant research.

Offered by invitation only the fellowship recognises those with a personal commitment to the leasing industry, who have performed with high professional and ethical standards and have a willingness to challenge current thinking.

Sean originally joined Syscap back in 1999 to develop its public sector offerings. He later re-joined the team in 2014 as sales and marketing director. With more than 20 years of experience within the leasing industry he has a strong knowledge of how it operates, as well as a passion for entrepreneurship, and developing and innovating businesses and people.

Sean comments, “It’s important that we continue to support the leasing and asset finance sector, and it is a privilege to be joining the fellowship at The Leasing Foundation.”

Philip White adds, “We’re delighted that Sean has been recognised and commended by the Foundation; it really is a testimony to all the hard work he has given to the industry over many years.”

Introducing… Chris Hayes

Chris Hayes knew what he wanted to be from an early age. When he was around 14 years old, Chris decided to be an accountant in the future because Maths was his favourite subject.

After school, Chris studied Business Administration and Management at Kingston University. Whenever there was an optional module on accountancy, Chris signed up. After graduating Chris did a few short-term jobs, including a spell in a manufacturing company, before he discovered Syscap.

“I was attracted to the role at Syscap because financial services seemed like a good industry to be in,” says Chris. “Plus, Syscap offered training packages to help with my accountancy qualifications, and the location was good.”

Chris worked his way steadily up the ranks in the accountancy team, moving from Accounts Assistant to his current role of Financial Planning Manager. In that time, the department has gone from five people to nine, with two managers.

For the last two years, Chris has been in charge of managing someone else on the team. “It was a challenge to get used to it at first, because it was a new and alien set of skills. I was used to drilling down into numbers, but had to learn to do more organising and planning.”

Since Chris joined the team in 2002, Syscap has seen many changes: “There used to be more wide-boy sales people – I heard one was once so loud in a restaurant, he offered to pay for everyone else’s meal. I can’t imagine anyone at Syscap now being that rude!”

Reporting has also changed in Chris’ 14 years with Syscap. “Reporting used to be one or two sheets of A4 every now and again, now it’s a 50 page reporting package that goes to the board every month!”

Chris’ favourite thing about his role is the variety and range of tasks: “There’s regular stuff you do every day then something different comes along, like project work. No two months are the same.”

Looking to the future, Chris has big hopes that new investment from Wesleyan will help his team become more efficient through improved reporting systems. “My biggest bugbear is the software, getting all the programmes to talk to each other. We are investing in streamlining the systems so we spend more time on analysis instead of counting the same thing 20 times in different ways!”

Chris is looking forward to the developments and changes that will come under Wesleyan ownership, predicting that “in five years’ time, I can see us being a bigger funding house in our own right, not just a broker.”

Outside of work, Chris enjoys catching up with his large extended family. “We’re dotted all around the place – I’m originally from Devon, and still have family out that way, but some are also closer to home.”

At the weekend, there’s nothing Chris likes better than to retire to a cosy pub to have a few drinks with friends or family. He might be spending more time outdoors soon though, as he has signed up for a challenging 100km Richmond to Brighton walk with colleagues, to raise money for Dimbleby Cancer Care.

“When I signed up, I said to myself that it couldn’t be that difficult, and the countryside on the way would be really scenic. But thinking about it now I’m beginning to realise that it could be quite tough! I’ve bought myself some new walking boots and over the next couple of weekends I am going on practice walks to prepare.”

Even if he gets terrible blisters, Chris will be pleased to support a good cause: “We’re raising money for Dimbleby Cancer Care because they are helping the family member of a colleague, so we wanted to do something in solidarity.” Let’s hope it goes well!

Are government policies putting UK IT businesses at risk?

How does government policy affect your business? According to the director general of the Confederation of British Industry (CBI), the current policy framework is placing a “cumulative burden” on businesses which could threaten economic growth.

CBI director general Carolyn Fairbairn cited policies including the National Living Wage, apprenticeship levy and pension auto-enrolment as placing “a number of strains” on UK business. Fairbairn also criticised “wrong-headed” visa policies.

The National Living Wage, a higher rate of minimum wage, is set to rise to £9 per hour by 2020. Business leaders have said it will increase pressure, particularly on small businesses and low-pay sectors such as hospitality.

Business leaders are also concerned about the government’s apprenticeship plans, which will be funded by a levy on companies. The number of apprenticeships is forecast to rise to three million under the scheme, with industry covering the cost of training.

Pension auto-enrolment is a rolling process. Larger employers are already required to be compliant, while smaller businesses are required to set up pension schemes by 2018 according to a phased timetable.

Fairbairn said: “Overall, UK policymakers need to deliver regulatory stability and predictability. Businesses struggle to invest when the rules repeatedly change – as we have seen in the energy sector where policy shifts have chilled investment.”

The CBI director general also said politicians should “reform the UK’s wrong-headed visa policies that are keeping global talent from our growing firms and global students from our world class universities.”
Fairbairn also cited the “abject failure” of the government to make a decision over airport expansion in the South East as an example of policy risking economic development, saying: “Good business needs good infrastructure – yet the UK currently ranks 24th in the world, according to the World Economic Forum. We have fallen badly behind over many decades – we must catch up and then pull away.”

Are government policies risking the future growth of your business?

‘If you are looking to invest in the growth of your business, consider a flexible finance solution from Wesleyan Bank.

Top tech trends for 2016 – Finance IT Investment

Every year brings a host of new technology trends and innovations. What will be the key tech developments of 2016? The BBC requested predictions from well-informed sources: lawyers, accountants, digital agencies, research analysts, telecoms companies and tech firms.

Let’s look at some of the most common predictions.

1. Cybersecurity
This is not a new threat, but the risks increase and evolve by the day, particularly in relation to ransomware. High-profile hacking cases in 2015, such as Ashley Madison and TalkTalk, have boosted awareness of the financial and reputational damage cyberattacks can bring. As more data is collected and stored, attacks are becoming more numerous and sophisticated – no company is 100% secure.

2. Internet of Things
Michele Franci, chief technology officer at Inmarsat, claims 2016 will be the year when “machine-to-machine” tech moves beyond industrial applications such as utility infrastructure monitoring, finding new applications in agriculture, health, smart metering and environmental research.

3. Real-time data analytics
Big data and personalisation will develop further with improved collection and analysis systems. Data fed back from devices such as wearables and car trackers will generate real-time insights for companies, allowing them to move beyond responsiveness to customer needs to actually anticipating changes before they happen.

4. New data protection laws
2015 saw the passing of new EU laws on data protection. These will come into effect in 2018, bringing greater clarity but also heavier penalties. James Mullock of legal firm Bird and Bird advises companies to strengthen compliance procedures in 2016 to prepare.

5. Robots and artificial intelligence
Phil Cox, president of Silicon’s Valley Bank’s UK branch says: “From healthcare to space exploration and self-driving cars, business in 2016 will be powered by robotics.” As robots and AI take on more repetitive tasks, human job roles will also change.

6. Dominance of smartphones
Smartphones are fast becoming the primary way for businesses to interact. This trend is set to continue, with more mobile payments, increased connectivity in developing countries and wider acceptance of the “anywhere, anytime” philosophy.

7. Personalised and location-based marketing
Location-based beacon technology offers brands a way to provide customers with highly targeted ads, even determining content by which part of a store a customer is standing in. These services are set to proliferate.

Is your company keeping up with the pace of technological change? Why not get in touch to see how Syscap could help you finance investment in new tech?