Date published: 01.09.08 - not release date

Syscap professions survey proves finance to be good practice

Finance is extremely popular with UK professional practices today according to a survey conducted by Syscap (http://www.syscap.com), the UK’s leading independent finance provider to the professions. The company’s annual survey reveals that 83 percent of practices responding currently use, or have used, payment-over-time options as a way of acquiring high-value goods or funding large bills or debts.

The survey also reveals that finance would be considered for many areas of practice procurement. Whilst at 81 percent, IT is by far the most popular potential use of finance amongst those surveyed, it would also be commonly used for: equipment (46 percent), professional insurance (44 percent), vehicles (36 percent), tax bills (32 percent), telephony (29 percent) and partner buy in/buy out (22 percent) (multiple answers were allowed). As well as showing that finance is valued as a way to drive business growth by a variety of means, these figures also suggest that IT is a growing priority for professional practices.

Other findings included:

•Opinion amongst professionals was divided over whether the credit crunch would affect spending in 2008, with 36 percent saying it would, 38 percent saying it wouldn’t and 27 percent unsure

•Budget decisions in practices are mostly made early in the calendar year - January (26 percent), April (23 percent) and March (17 percent)

In addition, the results highlighted the fact that Syscap is helping to raise the professional reputation of finance, with 100 percent of professional clients responding to the survey stating they were either ‘satisfied’, ‘very satisfied’ or ‘extremely satisfied’ with Syscap’s customer service.

“With so many practices now saying they use, or have used, finance, it’s clear that the reputation of finance solutions is high and the market is buoyant,” comments Philip White, Chief Executive Officer at Syscap. “And the fact that finance is so commonly used for IT is interesting, signifying that practices have moved on a great deal and that technology has become fundamental to professional practices of all types.

“We are of course delighted to hear that all our clients are happy – and many more than happy – with the service we provide,” he adds. “We believe this is because we offer more than generic finance; we offer specialist advice and solutions, tailored to all professions such as from accountancy to law, medicine to dentistry.”

Syscap’s annual industry survey is part of its ongoing research and business development programme. It is designed to identify emerging trends and opportunities, provide a useful insight into the current use of IT finance among both reseller and end-user organisations and gauge customer attitudes towards Syscap so it can continue evolving and improving its products and services.

Ends.

About Syscap

Syscap is the UK’s leading independent IT finance provider. Syscap works directly with clients and in partnership with industry-leading IT vendors, equipment suppliers, ISVs and other business service providers. Through tailored, innovative finance solutions, Syscap enables commercial, professional and public sector organisations of all sizes to acquire the business assets and resources they need, without traditional budgetary constraints.

Founded in 1990, Syscap now employs over 110 people across the UK and Europe, has annual revenues in excess of £135 million and £300 million of assets under management.
www.syscap.com

For further info, contact:

Lindsay Back/Ben Bush
The Crocodile
Tel: 020 7749 4400
lindsay.back@thecroc.com / ben.bush@thecroc.com

or

Philip White
Chief Executive Officer
Syscap Limited
Tel: 020 8254 1800
pwhite@syscap.com

Issued by: The Crocodile, The Lux Building
2/4 Hoxton Square, London N1 6NU
www.thecroc.com