Siemens taps Lendscape to power its new EPT financing model
Lendscape, the leading fintech specialising in working capital technology, has announced the successful implementation of its platform to support Siemens Financial Services (SFS) with their Extended Payment Terms (EPT) solution. The cutting-edge platform developed by Lendscape provides a robust and scalable foundation for EPT processing on behalf of SFS, marking a significant advancement in financial flexibility and efficiency for suitable commercial buyers of Siemens’ products.
Offering extended payment periods of up to 180 days*, Siemens EPT empowers businesses to acquire essential products without immediate cashflow impact. This flexible financing model enables companies to first generate revenue from their investments before settling their invoice, effectively closing liquidity gaps and maintaining financial agility. At the same time, the platform also enables Siemens partners to offer their customers longer payment terms via SFS. The financing solution is currently available in the UK, Germany, Austria, Netherlands, and Sweden, Finland, Norway, Denmark, with plans to expand to other European countries.
“By partnering with Lendscape, we seamlessly integrate EPT into our online procurement process, providing customers with quick and easy access to financial support at checkout. This progression in B2B payments aligns perfectly with our commitment to driving innovation, supporting businesses, and fostering economic growth,” said Dr Andreas Steininger, Head of Extended Payment Terms at Siemens Financial Services. “The Lendscape team’s industry experience and technical expertise have been invaluable in delivering a purpose-built solution.”
“We are excited to partner with SFS to support fast, flexible financing that addresses the evolving needs of their customers,” said Martin Morrin, CEO at Lendscape. “Extended Payment Term models and methods are becoming an increasingly vital tool for businesses trying to manage their cashflow more efficiently, Siemens EPT, underpinned by our technology platform and workflow expertise, offers their customers flexibility to optimise their working capital with minimum friction or intervention.
*(subject to credit approval)