Based in Brisbane, Digital Sense is a technology provider that delivers cloud-based IT services to corporate and government enterprises.
These services include data strategy, data protection and storage, backup and recovery, Infrastructure-as-a-Service (IaaS), co-location solutions, and more.
Having been awarded a contract to provide data hosting services to a large municipality in Queensland, Digital Sense needed to fund the acquisition of critical IT assets in order to service the contract.
Significant capital expenditure was required, and whilst Digital Sense recognised the importance of preserving cash flow, they were reluctant to source traditional loans due to the associated high costs and low flexibility.
After reviewing all the funding options available, Digital Sense turned to Northquest for help.
Northquest assessed the company’s technology position, along with the current and future contract requirements, and put together a 3-year asset rental solution to enable Digital Sense to acquire the IT infrastructure they needed.
What’s more, the solution required no additional security other than the assets, came with flexible end of term options, and offered a low implicit rate compared to traditional funding.
The asset rental solution has enabled Digital Sense to fulfill its contractual obligations to the municipality in a timely, efficient and cost effective manner.
The Northquest solution has also allowed Digital Sense to invest in infrastructure that can be used for other projects, helping the company expand its presence in the market.
“The team at Northquest really took the time to understand our challenges so they could devise the best finance solution for our needs,” says Agim Isai, CEO, Digital Sense.
“Thanks to the flexible and affordable rental agreement, our cash position is strong, plus we have the technology and infrastructure in place to secure new contracts moving forward.”