By Chris Gleasure, Head of Operations at Rigby Capital Ltd
A recent report concludes that IT expenditure in the UK is increasing disproportionately compared to other countries across Europe. The UK has the largest IT spend in the region and is stretching further ahead with a predicted growth of 8% in 2016. To compare; Germany is predicting growth of 3.1% and France just 1.5% this year. In addition, the UK is increasingly showing signs of developing an economy reliant upon technology. London in particular is becoming a ‘Digital Hub’, evidenced by a number of key technology companies continuing to locate themselves on these shores.
The statistics published by Forrester Research also demonstrate how UK IT budgets are growing consistently year on year. Surprisingly, 2016 is the slowest predicted growth-rate in the UK for four years, showing that whilst technological advancement is a must in modern business, budgets may still be restricting growth. The upshot is that, for many companies, the funds simply aren’t readily available and this is proving a real challenge for CIO’s.
The fact remains that organisations are required to adapt their technology strategies to remain competitive. One of the biggest areas in which spending has increased is software. The report by Forrester Research identifies that, worldwide software revenue has increased by 10% to $640 billion in the last year. Apart from sourcing through the global heavyweights, many organisations are creating their own custom software apps, upgrading operating systems and incorporating a number of other vital business applications.
Naturally, businesses are also focusing on their bottom line, looking to generate a return on their investments and are consciously avoiding overspending within a specific time-frame. For many organisations, an inability to fund these tools can stymie their progression and diminish their competitive edge.
At SCC Capital we have been carefully monitoring these trends while developing our product base in order to best support our clients and help them to reach their full potential. SCC Capital has a focused range of flexible financing options that can both simplify procurement and spread the costs associated with IT projects to match their useful lifecycle.
It’s become a common trend for well-known organisations to capitalise on flexible budgeting options to fund projects. New products, such as Flex Start by SCC Capital, incorporate project-based elements that enable companies with a lower budget base to realise their strategies by spreading the costs to suit their individual requirements. This flexibility really lets companies spread their wings, allowing them to initiate mission-critical projects, without out-stripping their budget for a particular period and reducing their administration.
To support organisations during this transitional period, we’ve developed a built-for-purpose Software Funding product that supports the industry trends identified by Forrester Research.
Many of the C-level executives that we’re working with breathe a sigh of relief when they realise that we offer fully managed end-to-end services such as Software as a service, Device as a Service and Cloud or Hosted Assets. SCC Capital not only help organisations to manage their budgets, but support them throughout the entire asset lifecycle.
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