Siemens Financial Services (SFS) has announced that it is extending its asset financing services to the company’s full range of industrial software. This marks a major expansion of the financier’s existing software financing portfolio. The initiative aims to meet the growing demand from industrial organisations for manufacturing systems finance, where software, hardware and services are integrated into a single solutions financing package. Such packages allow manufacturing firms to access higher capability and productivity systems in a way that is tailored to their individual cash flow requirements. SFS offers flexible financing packages for industrial technology solutions, both from Siemens and from third party technology vendors.
With the increasing focus on software-dependent automation solutions in manufacturing industry, it is often convenient for the end customer to embrace all its process and process management technology requirements into a single financing package, covering hardware, software, installation, maintenance and service. Equally, stand-alone software requirements, such as engineering and product development, benefit from a financing package that allows the end user to pay in fixed monthly installments over an agreed period, rather than tying up precious working capital in an up-front purchase. Financing from SFS is designed to help industrial companies manage their cash flow and working capital better, enhancing their operating efficiencies with complementary financial efficiency.
Siemens offers a wide range of industrial software solutions. Examples include:
- Product Lifecycle Management (PLM), which helps organisations work as a single team to design, produce, support and retire products, while capturing best practices and lessons learned along the way.
- LMS test and simulation solutions, which help manufacturing companies manage the complexities of product development by incorporating model-based mechatronic simulation and advanced testing solutions in the product development process.
- COMOS, which provides the process industry with a seamless flow of information based on a globally consistent database, delivering a common view of data across all disciplines and through all phases of the plant lifecycle that helps maximise reliability in decision-making.
- TIA (Totally Integrated Automation) Portal, which optimises all planning, machine and process procedures.
- SIMATIC software, which provides best-in-class optimisation of all automation software tasks throughout machine and system lifecycles.
- Software for energy management, which controls and optimises energy consumption in a manufacturing organisation.
“Despite squeezed access to credit, British manufacturing businesses remain keen to invest in the latest technology and equipment. This is because there is a wide recognition that access to up-to-date technology and machinery frequently underpins an organisation’s competitive edge, enabling greater productivity, higher levels of automation, better customer service, lower operating costs and lower energy consumption,” comments Brian Foster, Head of Industry Finance at SFS in the UK.
“Today, an industrial technology solution usually embraces hardware, software and service elements, and we have worked hard to embrace all three into our financing plans. The UK’s manufacturing sector currently has billions of pounds of liquidity locked in purchased equipment. That working capital can be released through our comprehensive and flexible asset financing plans to be available for tactical opportunities, such as sales and marketing drives, acquisition initiatives or new product development,” adds Foster. Because we are an operating unit within a technology company, we understand the way the technology is used, and can create financing options and decisions that generalist financiers don’t offer.”
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/product-news/27082014/sfs-extends-asset-financing-86/