Lombard consolidates ten years of technology leasing with Top Ten accountancy firm
- Lombard celebrates successful ten-year working partnership with Grant Thornton
- Grant Thornton keeps saving £s with Lombard’s comprehensive leasing and asset disposal
- Effective asset management keep Grant Thornton at cutting edge of technology
Grant Thornton UK LLP is a leading financial and business advisor, operating from 28 offices nationwide. Led by 215 partners and employing nearly 4,000 of the profession’s brightest minds, Grant Thornton provides personalised assurance, tax and specialist advisory services to over 40,000 individuals, privately-held businesses and public interest entities.
Grant Thornton’s National Director of Information Systems, Greg Swift, manages a large workforce requirement including a regular replacement of over 4,000 laptops. Swift began reviewing how technology assets were managed and financed some ten years ago and continues to see significant results, “As large volume technology users our aim is to continually improve management information, control and support, whilst realising a reduction in the overall cost of ownership.”
Remaining competitive in a demanding environment is central to Grant Thornton’s objectives. “Our largely mobile workforce demands access to leading-edge technologies which typically have a useful life of two to three years,” explains Swift. “This continuous purchase and disposal of technology is time-consuming in administration and complex in terms of managing the assets.”
Having reviewed the supply options available, Grant Thornton chose to develop a support partnership with Lombard Technology Services for its ability to provide complete and tailored solutions that match Grant Thornton’s requirements. It has been working with Lombard for the last ten years.
Lombard’s expertise in the field of technology asset management from supply to disposal has proved invaluable to Greg Swift. Lombard Technology Services’ Relationship Manager, Michael Rixon, explains why, “By effectively managing fast-evolving technology assets for our customers, leasing with Lombard Technology Services can offer significant financial and operational benefits. With this in mind, Lombard has developed a fixed rate operating lease over a two year term that is suited to more specialist equipment. For the longer life equipment, we write three-year leases where any future resale value is reflected in the figures. This ensures the equipment is only rented for the actual useful life rather than paying for the full purchase price. This refresh cycle also removes any increased support costs that appear in the fourth or fifth year.”
Refreshing technology, rather than managing increased support costs of older assets, offers a key economic advantage. Opting out of equipment disposal requirements and fixed terms rentals all help to show a reduction in costs compared to full purchase price. The utilisation of the comprehensive and effective management tool C.A.L.M. has shown to be an ongoing aid in reducing costs further.
Interrogating the cost-savings Grant Thornton has achieved year-on-year, Swift confirms the figures prove ongoing savings. Overall savings in the last year alone are approximately 12%.
Swift is keen to continue this ten year relationship and concludes, “The relationship and trust that has evolved over the past ten years is the key to this successful partnership. It is based on Lombard’s ability and willingness to listen to the needs of Grant Thornton and to have the flexibility to respond.
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