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Problem:
A customer hadn't paid after three months and couldn't
sort out finance elsewhere.
Solution:
CCL put together an agreement, closed the deal and paid
us - all within a few days.
Team
Engineering waited 3 months for £250,000
CCL delivered it in 3 days, in cash
Team
Engineering supplies I-DEAS software to help manufacturing
companies simulate real world situations for complex
designs like cars, planes and industrial process plants.
Using I-DEAS, manufacturers can develop digital master
product models with CAE/CAD/CAM technology - and subject
them to extreme operating conditions for structural
and thermal analysis. This allows them to gain information
about product shape, behaviour and cost before producing
expensive physical models. Based in Hertfordshire and
Scotland, Team Engineering also offers installation,
consultancy, system health checks and training to support
their software solutions. When Team Engineering decided
to look for a finance partner in 2000, they found CCL
to be the most flexible and responsive - and the two
companies now work together on a regular basis.
"We wanted to make our products more
affordable"
Team
Engineering's Director Steven Kane explains the strategy
behind the partnership and the benefits it has delivered
to his company. "The value of our software is fairly
high, and because of this, we were coming up against
cost objections," explains Steve. "We wanted to make
the price more attractive to customers, and CCL's Rental
Exchange® offered the perfect solution. Our customers
can spread the costs over time - and so invest in our
technology more easily."
Cash flow benefits all round
For
Steve, a major benefit of the partnership with CCL is
its impact on cash flow. "Working with CCL means we
get paid quickly," explains Steve. "They can also sort
out agreements for customers who may find it difficult
to get finance elsewhere. We had one customer who wasn't
able to pay us after three months - and couldn't sort
out finance through other means. CCL managed to put
a Rental Exchange® agreement together, close the
deal and pay us, all within a few days."
A
significant impact on our turnover
So
after working with CCL for over a year, how does Steve
sum up the benefit of the partnership? "They make it
easier for us to win business" says Steve.
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