Networking giant Cisco, has committed $2.5 bn to help customers and partners navigate an evolving landscape with the introduction of a new Business Resiliency Programme.
Offered through Cisco Capital, the vendor’s financing business and designed to help mitigate financial challenges resulting from the COVID-19 pandemic, the scheme includes in financing to provide organisations with access to the solutions they need to keep their businesses running and productive, their employees safe and support their communities during these unprecedented times.
Chuck Robbins, chairman and CEO, Cisco, said: “Cisco’s customers and partners are under enormous pressure to keep their businesses connected while remaining productive and secure.”
Robbins added that whether it’s technology, financing or helping those most in need, Cisco is committed to working together to fight this pandemic on every front.
According to Cisco, cash flow is a top concern for customers and partners in the current environment.
The company stated that the new Business Resiliency Programme offered by Cisco Capital includes an up-front 90-day payment holiday and allows a customer to defer 95% of the cost of a new product or solution until 2021, which in turn protects their business and increases their existing cash flow.
The company said starting in January 2021, customers would then make a monthly payment based on the total financed amount and the remaining term of the financing. All Cisco solutions are eligible for this programm, including hardware, software and services as well as up to 5% of partner provided services, such as installation.
“Cisco Capital’s goal is to make it easier for customers and partners to acquire the technology they need to keep their businesses running and productive. Their success is our priority,” said Kristine A. Snow, senior vice president and president, Cisco Capital. “The new Business Resiliency Program is designed with this in mind and will help address some of our customer’s most pressing concerns.”
The programme also offers support to Cisco’s 60,000 channel partner ecosystem. The Business Resiliency Programme will help partners provide an additional solution to better serve customers, without any change to their own financial situation, in this challenging business environment. In addition, it will accelerate their sales cycles and allow partners to offer their customers payment solutions to better manage their cash flow.
