Through the SieSmart Partner Portal from Siemens Financial Services (SFS), Haas UK typically receives financing decisions within 30 seconds – while retaining access to a dedicated account manager for specialist advice.
Haas Automation is the largest manufacturer of machine tools (machines used to manufacture other machines or machine tools) in the western world, producing over 18,000 machines every year. The company manufactures four major product lines: vertical machining centres (VMCs), horizontal machining centres (HMCs), CNC lathes, and rotary tables.
Protecting customer capital
Haas’s UK team, based at its state-of-the-art head office in Norwich, offers financing solutions for manufacturer customers in-house, helping them acquire Haas machinery without overstretching finances.
SFS is a longstanding Haas partner, with the relationship dating back to 2016. Tim Ross, Business Finance Manager at Haas Financial Services, explains, “Given that SFS’ parent company Siemens produces CNC controllers, the team has an excellent understanding of the machine tool industry.
“For instance, they can provide slightly higher residual values (the estimated value of an asset at the end of its lease term or useful life) than other funders who have to approach external companies for valuations. With this knowledge and its digital platform, SFS provides exceptionally quick acceptances for financing requests.”
Seamless financing
A few years ago, Haas requested a transition away from traditional brokerage processes, where applications were made over the phone or via email. The vast majority of deals are now made on the SieSmart portal, with the team typically receiving an acceptance or referral within 30 seconds.
When there are unusual or more complex requests, Haas still has the option of picking up the phone and speaking directly to SFS. Ross says, “There are weeks where we only speak to the SFS team once, and then there are others where we call every day to get a trickier deal over the line, and they’re always happy to help. Since we’ve been working together for so long, we’re on the same wavelength and that makes conversations easier.”
Once an application has been made and documents submitted, payments are often made on the same day. Stefania Moruzzi, Business Development Manager – UK Industry & Machine Tools at Siemens Financial Services, explains, “All our checks are completed at the beginning of the process, so there are no surprises or delays when it comes to payment – it’s a seamless service.
“In the financial world, it is becoming increasingly rare for funders to maintain the kind of personal contact we have with Haas. It’s not easy when you work with many brokers and suppliers, but we make it an ongoing priority to retain personal relationships, and that’s what makes us special.”
Read more on this story here.To find out more about manufacturing finance, click here.
Manufacturing & Engineering Magazine | The Home of Manufacturing Industry News
