A newly-launched product from Siemens Financial Services (SFS) is enabling growth at industrial communications products distributor IndustrialComms.
Extended Payment Terms was launched earlier this year to regular buyers of Siemens’ products as a way to help their cash flow.
IndustrialComms found that the levels of investment required to meet demand were putting pressure on the company’s finances.
The extended terms arrangement has allowed it to take on projects that would otherwise have been unattainable.
Through a revolving credit facility, SFS purchases the debt from IndustrialComms and gives the business flexible repayment options with a choice of when to pay, up to 180 days.
