Siemens Financial Services (SFS) has launched its first IT finance option to include software costs.
The 360§ IT finance solution enables businesses to use leasing to finance IT solutions where the software, and any associated soft-costs, constitute a significant part of the total cost. Historically, businesses have had to restrict their funding arrangements mainly to hardware leasing or employ a mix of financing options, including cash, lease purchase and loans for the various elements of the IT solution, the firm said.
Cos Angelides, research and development manager at SFS, said: "360§ keeps everything under one financial agreement. It will help resellers win more business and get to markets that were inaccessible to them before. We are also seeing a lot of interest from vendors."
Howard Dudley, head of sales, at SFS, said: "Because of the complexities of software licensing traditional financiers have found it difficult to deliver what potential customers need. Nervousness about software financing has helped to create a leasing industry that recognised the opportunities but failed to deliver."
However, Philip White, sales director at rival leasing firm Syscap, said: "We have offered finance on all aspects of IT ? including intangibles such as software, training, consultancy and support ? from our earliest days, so it's a little difficult to see what's new about this offer. The real skill for IT financing companies is not in being able to fund these 'soft' products and services, but in reflecting the actual needs of all parties by coming up with tailored utility and subscription-based pricing models."
Graham Hilton, director of channel business at IT rental firm Livingston, said: "SFS is looking to capture the margin that goes through these software deals. Financing is all tied up on price. But this should benefit resellers."
Vendor's announcements include AI-powered Microsoft Office, a move away from password verification and an alliance with Adobe and SAP
Vendor claims hackers are hijacking machines to mine for cryptocurrency
Nearly half of SMBs are planning to invest in digital workflows to reduce their paper-based processes by 2025, according to Quocirca
The charter has pulled together the biggest names in tech in an unprecedented attempt to address the tech industry's lack of diversity. Tom Wright asks how it plans to do it