Natwest Case Study - Crystal Interactive Ltd
Crystal Interactive Ltd specialises in audience response systems, interactive conference facilitation, electronic voting and virtual events. As an expert in audience engagement, it provides a range of services in the live and virtual events arena.
Crystal Interactive had never used asset finance before and normally drew on its cash flow to fund any expenses. Wanting to both invest in the latest technology but also needing capital to help fund an office move, Crystal Interactive was referred to Alex Sturdy, Lombard Technology Services Relationship Manager. Sturdy explains, “Crystal Interactive was looking to refresh its IT equipment as well as invest in new technology including 200 iPads and 500 iPod touches. Better technology would enable it to provide the same service but more efficiently while the iPads and iPods would mean it could broaden its offering to its current and future clients.”
Sturdy continues, “We used a cost effective deal structure for the £150k funding. This not only financed the equipment but also helped the customer free up capital needed for an office move. By introducing Crystal Interactive to Lombard’s specialist procurement team, we were also able to provide a full technology refresh facility and reduce the purchase price of the assets.”
In an industry led by technology, refreshing a company’s capability not only helps its image but enables it to accommodate its clients’ ever growing requests. Domenyk Honey, Operations Director at Crystal Interactive Ltd, explains, “Lombard’s rates were attractive to us, especially with the residual value based lending. The pace of the industry changes quickly, but this latest investment puts us at the forefront of what we can offer our clients, such as networking games or instant feedback from delegates in a conference by using the iPads. Lombard not only offered a lease deal that we were happy with but I found its team helpful, flexible and through its support we’ve now got the tools to potentially widen our future customer base.”