Challenge: Modernise technology in 30+ schools without compromising budgets. Solution: By partnering with Axis Leasing and Siemens Financial Services, Greenwood is affordably enhancing their learning environment for pupils and staff
Interactive screens are certainly not new to the classroom – but like a lot of IT kit, they need regular replacement and upgrades, so that schools stay at the forefront of modern learning technology. However, this also must be balanced with other financial pressures, which remains a constant concern for school managers.
In this instance, Greenwood Academies Trust were looking to upgrade their schools with new interactive screens. Based in the East Midlands and formed in 2009, Greenwood operates 38 primary, secondary, and special academies. The trust is responsible for over 19,000 pupils. Providing a high-quality digital infrastructure, supported by professional training and development of skills for students and staff, is a high priority for Greenwood.
The desired, versatile, touch-enabled screens are a valuable tool for modernising education, promoting participation, supporting diverse learning needs, and preparing students for the future digital world. The robust displays have a long life span (with a manufacturer warranty of 5 years on all equipment provided).
Screening finance partners
To help Greenwood finance the new screens at this large scale, the supplier introduced the trust to Axis Leasing, a specialist in IT leasing and asset funding for business and education. Axis has been providing asset finance in the UK for over 25 yrs. In turn, Axis has worked with Siemens Financial Services (SFS) – an experienced financier for schools and academies – since 2004.
As Deb Chick (Director, Axis Lease Management Ltd) explains, “Schools have always struggled to gather sufficient funds for essential assets. With IT, there’s the added challenge of frequent upgrades. This is what makes leasing so well suited to tech purchases – both for suppliers and schools. There’s no large, upfront payment and the costs are predictable over time.” In this case, SFS supplied a fixed-term leasing facility over a 5-year period, allowing Greenwood to better manage cash flows. The experience has been so positive that Greenwood is planning to make further purchases through flexible financing.
Graham Feek, Deputy Chief Executive, Greenwood Academies Trust, adds, “Recognising that budgets are tight, the rationale for a five-year finance plan is clear; the savings from reduced screen costs and lower power consumption significantly outweigh the cost of finance. This package is both straightforward and highly cost-effective.
“Today’s schools want to stay on top of EdTech innovation, but investment is not always feasible. This experience has shown us what we can achieve with financing. The alternative would have been to continue to operate on a ‘break-fix basis’ that offered only a sticking plaster to what was becoming a large financial headache. As well as addressing the previous underinvestment in this area, being able to renew a large proportion of our estate has had an incredibly positive impact on teachers and students
“Through financing, our students can access higher quality tech and improve their learning experience – with the possibility of exploring new, game-changing digital tools as they emerge. Our staff can teach with the confidence that their technology is not only reliable but leading edge.
“As part of our future-proofing ethos, we’re also in the process of improving energy efficiency at our sites, to meet ambitious sustainability targets.”
Enabling EdTech investment
Experienced suppliers and finance partners can help schools to get the most out of their budgets. Rather than focusing on specific equipment needs, knowledgeable partners will look at the bigger picture and fully explore how schools can take advantage of tailored financing facilities.
Deb at Axis Leasing says, “Empathy is at the heart of our approach at Axis. Schools and academies are highly pressurised and may not have in-house experience with this type of financing. So, it’s important that our partners understand and share our sensitive approach to managing customers in this field especially. Along with sharing our principles, SFS also brings a breadth of experience and the whole financing process is very slick. With SieSmart, SFS’ digital platform, applications are processed quickly and immediately approved.”
With knowledgeable and supportive partners, large-scale tech upgrades can be financially sustainable. Thanks to this strategic financing partnership with Axis and SFS, Greenwood is investing in essential digital devices without placing strain on its budgets – setting a strong example for other educational organisations aspiring to modernise their IT infrastructure.
To explore financing solutions for schools, get in touch with Axis Leasing at enq@axisleasing.com, read about new rules on leasing for schools here, or connect directly with Antonia Jameson, Business, Development Manager – Siemens Financial Services, here.
