Experience counts
While it’s too early to say what the longer-term impact might be on the channel in terms of finance, the immediate requirements have been to fund additional business and to stretch-out payment terms to some degree.
‘TD SYNNEX has a highly-experienced team who managed through the last financial crisis and, as always, we will do all we can to support our customers…’
Nick Tiltman, Credit and Finance Solutions Director at TD SYNNEX, said: “We have obviously experienced an uplift in volumes, which places pressure on credit lines, but we have in the majority been able to accommodate that. There have also been some increased requests for extended terms or payment holidays, and we are managing these on a case-by-case basis. There is also government support and deferred VAT and PAYE payments, which will help ease the strain on some SMB customers. Our insurers are being supportive as well.’
Having an experienced team in place has really helped, he noted. ‘TD SYNNEX has a highly-experienced team who managed through the last financial crisis and, as always, we will do all we can to support our customers at this unprecedented time. Our Finance solutions team are also working hard with our customers providing access to loans and leasing where required and possible.’
From a customer perspective, keeping in contact is very important, he noted. ‘Being close to our customers, especially during these times, is key. We are speaking with as many customers as possible by video calls rather than email to help the speed of decisions and flow of information.’
Like everyone else, TD SYNNEX’s credit and finance teams have been working from home, but they have still been able to function normally. ‘As an employee I have been impressed at the speed TD SYNNEX reacted to the situation and with the care they are showing for our health and well-being’, said Nick.
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