The partnership with BNP Paribas Leasing Solutions, Europe’s leading provider of business equipment finance, will enable TalkTalk Business’ 180,000 customers to access alternative sources of finance to take advantage of emerging technologies and upgrade ageing infrastructure.
Andy Lockwood, transformation director at TalkTalk Business, commented: “The current climate in the UK is averse to new investment but we know that if the business case demonstrates a quick return on investment, there is usually no reluctance to spend. The finance packages we can now offer in conjunction with BNP Paribas Leasing Solutions will help customers take immediate benefit from our scalable and robust solutions, while spreading the cost over a number of years.”
The timing of this announcement coincides with recent data from the Finance and Leasing Association which suggests that businesses are increasingly turning to alternative sources of finance such as leasing to pursue technology procurement. In the year leading to April 2012, the figures show that 27% (or £21 billion) of all fixed capital investment in the UK was funded using asset finance.
Rob Inchley, Sales Manager at BNP Paribas Leasing Solutions observed: “It’s no surprise UK Plc and SME’s are seeking to diversify their funding lines given the contraction in bank lending to businesses. Our experience suggests businesses will seek to preserve their bank credit facilities for core activity. When it comes to technology investment, leasing helps businesses deploy the latest solutions which might otherwise be cost prohibitive.”
Initially BNP Paribas Leasing Solutions will focus on the direct sales channel at Talk Talk Business which caters for the needs of mid- to large-sized enterprises. A comprehensive package will be made available including dedicated account management, online portfolio management, marketing campaigns and documentation support.