Because professional practices operate in a unique way, traditional finance solutions can often be unsuitable. Syscap's Professions Interim Finance Facility (PIFF) has been specifically designed to work with this in mind.

PIFF provides your practice with the capital to bridge the often lengthy and expensive gap between the specification of your new equipment or IT system and its full implementation. It's simple to set up and manage, and reduces the burden on your cashflow.

Investments in new IT often represent a major logistical problem for professional practices. Aside from the physical disruption of hardware installation, there are the potential problems caused by data transfer and the tailoring of practice management and accounting software. Getting it right can take months – a considerable drain on resources without any immediate benefit to your business. Only when the system is installed, tested and running will it start to deliver the benefits to your business.

These same issues apply to the installation of new specialist equipment in medical, dental and optical practices.

With PIFF, you can achieve the most budget-efficient way to meet IT and other specialist equipment expenditure, by spreading the cost of your installation and ongoing needs. We cover all the capital costs during installation – including cabling, data transfer and training – even if that takes up to 12 months.

Here’s how it works:

• We pay the initial deposit to your supplier or vendor once the new system is specified
• We make phased payments to the supplier or vendor as the installation progresses; you only pay interest on capital drawn down during installation
• We pay the balance of the vendor’s fees on satisfactory completion of the project
• The PIFF is then converted into a fixed term agreement on which full capital and interest repayments are made under a facility of between two and seven years