# HardSoft keeps customers connected with Block Discounting from Siemens Financial Services Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2021-04-28 Category: BUSINESS Category URL: https://financedigest.com/category/business Meta Title: Expand Your Leasing Offering with Block Discounting from Meta Description: Unlock capital tied in finance agreements & access instant credit facility for business growth & improved customer support. Find out more now. URL: https://financedigest.com/hardsoft-keeps-customers-connected-with-block-discounting-from-siemens-financial-serviceshtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/hardsoft-keeps-customers-1736838401703-compressed.jpg) One-stop leasing and IT solution expert HardSoft Ltd has expanded its offering with Block Discounting from Siemens Financial Services (SFS). HardSoft has been in operation since 1984, offering expert advice on technology and financing, and providing businesses with secure optimised hardware, software & IT infrastructure solutions. In January 2019, the company wanted to expand operations by also funding the leases it provides, enabling the business to better support existing customer as well as potential new ones. The company initially drew from its own working capital to facilitate the move and was already able to improve the overall [customer experience](https://www.financedigest.com/is-your-customer-experience-exceptional.html "IS YOUR CUSTOMER EXPERIENCE EXCEPTIONAL?") as a result. “Our niche is supporting [customers](https://www.financedigest.com/revolutionising-customer-service-three-sectors-that-are-leading-the-way.html "Revolutionising Customer Service: Three sectors that are leading the way…") all the way by providing an excellent service,” explains Philip Morgan, Managing Director at HardSoft Ltd, “so the freedom to do that without relying on approval from underwriters was critical for us. As demand for the funding service grew, we saw we needed external support and a trusted associate recommended Block Discounting from SFS.” Block Discounting allows a [business to release capital which is tied up in customer finance](https://www.financedigest.com/6-ways-to-spring-clean-your-business-finances.html "6 ways to Spring clean your business finances") agreements. The product provides a business with instant access to a revolving credit facility enabling the business to raise funds against [future income](https://www.financedigest.com/income-diversification-is-not-just-the-future-it-is-now.html "Income diversification is not just the future: it is now") streams. Block [Discounting creates a credit line for businesses by providing instant access to an agreed fund](https://www.financedigest.com/intercos-fund-shareholders-l-catterton-otpp-sell-6-stake-at-7-discount.html "Intercos fund shareholders L Catterton, OTPP sell 6% stake at 7% discount"), at an agreed discount to the value of current finance receivables. Funds can be released as and when required and the advance is repaid at a fixed [price over a set](https://www.financedigest.com/unicredit-sets-out-8-billion-aid-package-for-italy-clients-hit-by-surging-prices.html "UniCredit sets out billion aid package for Italy clients hit by surging prices") period, giving the company confidence in its cash flow. “Access to the credit facility has been game-changing for us, particularly in the current context of economic recession and the pandemic,” continues Philip. “We have total autonomy to support existing customers and onboard new ones, even in these difficult times.” SFS facilitated a smooth process for HardSoft. The team met with HardSoft to understand the [business’ requirements and see how it could support](https://www.financedigest.com/synapse-appoints-new-finance-and-operations-manager-to-support-the-rapid-growth-of-the-business.html "Synapse appoints new Finance and Operations Manager to support the rapid growth of the business"). As the company had already demonstrated its ability to run a smaller lending book, the team at SFS understood how expanding the [company’s access to funding would help to grow the business](https://www.financedigest.com/keeping-an-eye-on-company-purse-strings-where-do-businesses-go-wrong.html "Keeping an eye on company purse strings – where do businesses go wrong?"). “Block Discounting is definitely the simplest solution for us,” explains Philip. “It lets us invest in the business and gives us access to a reliable source of funds. We’ve also found a great match in SFS because we [know our Account Manager is just on the other end](https://www.financedigest.com/the-end-of-payments-as-we-know-it.html "The end of payments as we know it") of the phone but we’re also left to our own devices to run operations as we see fit.” The facility has the flexibility to scale in line with business growth, meaning Hardsoft can continue to offer funding to more new and continuing customers without exhausting its own [lines of credit](https://www.financedigest.com/austria-grants-credit-line-to-vienna-utility-squeezed-by-power-price-surge.html "Austria grants credit line to Vienna utility squeezed by power price surge"). Gurpreet Virdee, Account Development Manager at Siemens [Financial Services](https://www.financedigest.com/as-hackers-declare-cyberwarfare-financial-services-cannot-afford-to-be-complacent.html "As hackers declare cyberwarfare, financial services cannot afford to be complacent") adds: “We’ve already seen the arrangement with HardSoft grow as demand increases for their services at a time when access to IT solutions is essential for most businesses. It’s been a pleasure to [work](https://www.financedigest.com/meetings-in-the-metaverse-how-likely-is-this-the-future-of-work.html "Meetings in the metaverse – how likely is this the future of work?") with their expert team and we look forward to building this relationship in the future.” --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---