UK leasing and asset finance firm Syscap has provided a £150,000 credit line to reseller of Sage CRM software Qmulus.
The funding line allowed Qmulus to offer monthly subscription services to those customers unwilling or unable to pay for software license costs up front.
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Syscap told Leasing Life that it has completed seven deals of various sizes with Qmulus over the past year and that there are more deals in the pipeline.
Daniel Lewis, managing director at Qmulus said: "Around one third of our market chooses the subscription model. Without finance this could significantly impact our cash flow, as we would collect the payment from customers over time rather than upfront. So it’s vital that we have a sound offering in place to take advantage of these opportunities.
"In general we’re also finding that customers are much more in control of where and when their budget is being spent and increasingly they see the ability to spread the cost of IT over time as critical."
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By GlobalData
