Finding the right provider can be
tough for many firms as it demands a high level of commitment and
trust, especially when a business's ICT infrastructure is at stake.
When Carpenters began looking for a provider, they wanted someone
who intimately understood the sector and were able to meet all
their demands, that is why they got in touch with Syscap and have
remained so ever since.
Carpenters is a specialist claimant
personal injury law
firm located on Wirral, Merseyside. Now one the largest firms
in its sector, the partnership has experienced rapid growth since
its formation, particularly in the past 18 months during which time
the staff head count has more than doubled. "Syscap is our
preferred partner when seeking funding for our all our major
capital expenditure projects. We have complete confidence that they
will secure us the best rates available in the market place and
that they will manage each transaction with meticulous care from
start to finish" says Gordon Spence, Finance Manager.
Syscap funded Carpenters' very first
IT project, as Gordon explains: "As with any new business, cash
management is a key factor in determining success during the start
With this firmly in the minds of the
partners, Syscap were approached with the brief to find a cost
effective, cash friendly solution to
funding the firm's first major IT project. It was essential that
the funding package encompassed all elements of the project:
hardware, software, installation and training. Syscap delivered on
this brief and from that day onwards have been a key advisor on and
facilitator of finance for our major capital projects".
The management team at Carpenters
strongly believes that it makes sense to finance capital projects,
especially during times where the capital infrastructure needs to
expand rapidly in order to support the overall strategy of a
business. Gordon notes: "The firm has long been an advocate of
financing major capital projects given the short and long term
benefits to us. We are able to spread the cost of large capital
outlays over periods which match the lifetime of the asset. We also
have confidence that the transfer of title fees will be negotiated
at reasonable rates by Syscap should we opt to lease the assets
rather than signing up to a straight hire purchase deal. Although
there is a cost to the debt, this is tax deductible which we view
as an additional benefit".
"Our relationship with Syscap is a
strong one" explains Gordon. "We have an approachable, down to
earth relationship manager in John Clarke. The service we receive
from John and his support team is consistently of a high standard.
It seems that no matter what our requirement, Syscap can
accommodate it. The relationship we have with Syscap allows us to
quickly assess the feasibility of funding potential projects. For
example, we recently asked John to appraise a significant office
expansion project which included IT and office equipment purchases
from three suppliers.
Within a week we were provided with a
funding solution backed by various underwriters, the deal being
structured in such a way as to best suit both Carpenters and the
relevant suppliers. The clear and transparent dialogue we had with
Syscap during that project gave us confidence that we had signed up
to the best possible deal at that time. Also of note is that more
and more of our suppliers are forging relationships with Syscap
which makes the completion of our transactions even more straight
forward. Syscap has helped us move with the times, growing our
business and giving us predictability over our cash outflows".