TD SYNNEX hits £2bn credit line milestone extended to the channel

The landmark number comes on the back of steady growth in business, changes to partner business models, and the need to support growing number of hybrid deployments

TD SYNNEX today announced it has more than £2bn in credit lines extended to the UK channel.

The NYSE-listed distie said this achievement underlines its significance in enabling partners to do business and meet the changing needs of their end user customers.

The distribution giant attributed the rise to steady growth and changes to partner business needs driven by end-customer requirements for hybrid technology deployments.

TD SYNNEX regional vice president and managing director of the UK and Ireland David Watts (pictured) said that with partners now operating mixed models of solutions sales, subscriptions and services, the availability of these options is “more important than ever.”

“While end customer organisations may want to invest in new technologies and solutions, it is not always easy to allocate funding right away,” Watts explained.

“In addition, most customers now want to use a mix of on-premises and cloud solutions, and to both purchase and own products outright and take advantage of subscription offerings.

“As a consequence, partners are now having to manage ever-more-complex installations and their business models are changing. We are here to support them in every way we can and credit and finance options are a foundational element of our services that underpin our partners’ ability to do business.”

The company posted fiscal fourth quarter revenues of £12.97bn earlier this month, a ten per cent increase compared to the same period last year.

As well as credit services TD SYNNEX provides flexible options to suit every customer scenario through its specialist finance arm, TD SYNNEX Capital.

Solutions are available to support subscription payments for software and services and consumption-based financing.