Richmond-upon-Thames, 24 September 2018: Econocom UK, a leading provider of digital transformation solutions, has been awarded the contract as the approved provider of compliant lease finance for the “Schools Leasing Framework” for the second time. Underpinned by Link Asset Services and in conjunction with Durham County Council, this framework facilitates the financing of all forms of digital projects for all schools in the United Kingdom.
The Schools Leasing Framework is designed to address compliance issues around leasing in schools; facilitating the financing of digital projects for all schools in the United Kingdom. The Framework followed a formal OJEU* tender process and will run for the next four years. All leases are fully compliant operating leases and schools can be secure in the knowledge that they are entering into a regulated agreement which complies with the Department for Education (DfE) guidance.
The Framework is open to all UK schools and allows them to choose the technology, supplier, payment terms and a subscription model to suit their needs. The many benefits for schools in using the leasing framework include;
• improving the teaching and learning environment by giving schools access to the latest technology
• regulatory compliance
• ease of forecasting cashflow
• no upfront fees or charges
• the opportunity to update and upscale the technology as needed
Steve Dickman, Finance Director at The Kemnal Academies Trust, has used Econocom to supply a mixture of computers, laptops, printers, whiteboards, photocopiers and networks to a number of primary and secondary schools. He says: “I used Link Asset Services for leasing advice while working for a local authority. I became the Finance Director of the Kemnal Academies Trust in 2016. One of the first decisions I made was to engage them to provide the same services for the 40+ academies within the Trust. The OJEU* tendered Schools Leasing Framework agreement ensures compliance with procurement rules and financial regulations.
“The support from Link Asset Services and Econocom in managing the finance and delivering the technology is a credit to both. The service provides excellent value for money in a time when our budgets are being squeezed. I can also be secure in the knowledge that none of our academies will sleep walk into non-compliant finance leases.”
Chris Labrey, Managing Director UK & IRL at Econocom, says: “We are absolutely delighted to be awarded the schools leasing framework for the second term running. We are committed to providing teachers and students with the latest technology, while protecting the school from unexpected costs and termination agreements. We understand how digital technology can improve the learning experiences which happen in the classroom and we are committed to helping schools achieve this.”
More detail can be found about the framework at www.econocom.co.uk/schoolsframework. To read what schools are saying about the Framework, click here.
*OJEU framework award notice reference no. 2018/S 076-169980