Rigby Capital has accredited the evolution towards the as-a-service model as it celebrates its first year financial results.
The specialist tech leasing and finance firm provides financing models to help private and public sector customers to « accelerate capital, bring forward budgets and de-risk their technology investments ». It had annual growth in terms of business activation in excess of 70 per cent, which combined with the French operations new business now exceeds €150m (£134m) per annum.
Nigel Jenkins, managing director of Rigby Capital, told CRN the results are its first full year of trading after trading for only 10 months of the prior year. « What we have witnessed in this first full year is quite staggering. We have evolved from doing lease activity in the IT industry to now doing more as-a-service transactions, » he said. « On balance through the year, the portfolio splits roughly 50-50 between enterprise and public sector in the UK. We have done significant amounts in the NHS space and we do work in the governmental space – mostly central government, less local. »
Jenkins said the firm has also expanded to include a new Spanish operation which is now gaining traction. « We see ourselves as a technical capability to the vendors we support, rather than a front-line sales function. So if the vendors we support elect to go into certain spaces, then we follow suit. « That said, we haven’t progressed our activity in the education space, so that is a growth area for us. Schools is not an area in which we have seen any activity; it has mainly been in higher education so far. »
Jenkins said there has been a distinct shift through to a true as-a-service model. « That as-a-service model has traditionally been broken down to those who can genuinely support as-a-service and those who fund the assets supplied in as-a-service to an embedded lease structure. We don’t believe the latter is a viable way and we are finding that the public sector entities are progressing down through the as-a-service model faster than some of the enterprise customers, » added Jenkins.
L’article « As-a-service model driving Rigby Capital’s first full-year results » est en ligne dans sa version originale en anglais sur CRN.