The Finance & Leasing Association (FLA) has welcomed the launch of Crown Commercial Service’s (CCS) new Leasing and Loans Finance Dynamic Purchasing System – the objective of which is to simplify the leasing process for public sector customers and asset finance providers.
The DPS (Dynamic Purchasing System) will act as a funding platform providing buyers across the entire public sector with access to a range of lenders who fund different assets.
The FLA and its members have been involved in discussions with CCS since the inception of the new system, and the end result offers a large degree of flexibility – lenders can choose which area of the public sector to fund, the funding option, the asset class and asset value.
In addition, CCS’ strategic account managers will be working with public sector customers to build awareness of the new system and explain how it can support their organisations’ requirements.
Simon Goldie, director of business finance at the FLA, said: “We will obviously need to see how the system operates in practice, but this looks like a very useful tool for both public sector customers and lenders.
“CCS have been very focused throughout on finding a good solution. They took the time to talk to the experts and are now actively promoting the system within the public sector. This bodes well for the future success of the DPS.”
Crown Commercial Service (CCS) supports the public sector to achieve maximum commercial value when procuring common goods and services.
In 2020/21 CCS helped the public sector to achieve commercial benefits equal to £2.04bn, supporting world-class public services that offer the best value for taxpayers.