As a consequence of the downturn in the economic conditions we are in an environment where credit insurers are both reducing their limits and withdrawing credit. However, Comstor has effectively bucked the trend in these difficult market conditions to increase credit availability within the reseller community. Working with the support of their partner Cisco, Comstor has been able to extend more than £9m of incremental credit lines above and beyond their standard levels. Hence Comstor is providing the financial support to enable resellers to trade profitably, thus strengthening the relationships with them and Cisco. An example of this is working with Cisco Premier Partner Block Solutions on some of their recent wins.
Jon Pickering, Managing Director, Block Solutions comments: “We have delivered significant business this year for Cisco which has seen our turnover grow in excess of 100%, our third consecutive year of strong financial growth. Working in partnership with Comstor, we have been able to take advantage of the extended credit they have offered, which has been critical in enabling us to deliver the substantial end user deals we have been working on.”
Chris Wong, UK Finance Director, Westcon Group, comments: “We have continued to be both creative with and supportive of our customers for their end user projects wherever possible. As the main trade credit insurers reduce their exposure in the channel, with the support of Cisco’s short term financial measures, we have been able to maintain credit limits at a workable level.”