Cisco Continues Commitment to Customers and Partners with $2.5B in Financing to Support Business Resiliency

New payment program allows customers
and partners to 

• Access
  technology to support business continuity 
• Invest for recovery, deferring 95
  percent of the cost until January 2021 
• Protect their
  business with cash preservation and minimized cash outlay

 

SINGAPORE – Media OutReach – 22 April, 2020 – Cisco is continuing its global commitment to help customers and partners navigate an evolving landscape with the introduction of a new Business Resiliency Program. Offered through Cisco Capital, the vendor financing business within Cisco, and designed to help mitigate financial challenges resulting from the Covid-19 pandemic, this program includes $2.5 billion in financing to provide organizations 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.

 

“Cisco’s
customers and partners are under enormous pressure to keep their businesses
connected while remaining productive and secure,” said Chuck Robbins, Chairman
and CEO of Cisco. “Whether it’s technology, financing or helping those
most in need, Cisco is committed to working together to fight this pandemic on
every front.”

 

Cash flow is a top concern for Cisco customers and
partners in the current environment. The new Business Resiliency
Program offered
by Cisco
Capital includes
an up-front 90-day payment holiday and allows a
customer to defer 95 percent of the cost of a new product or solution until
2021, which in turn protects their business and increases their existing cash
flow. 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 program, including
hardware, software and services as well as up to five percent of partner
provided services, such installation.     

 

“Businesses
across Singapore are looking at ways in which they can continue to serve their
customers, while ensuring the safety of their employees in the current
environment. Adopting the right technologies can not only help them address
this in the short term, but also bring long term benefits. Cisco’s Business
Resiliency Program highlights our commitment to playing our role in helping
businesses and our partners in Singapore during these tough times,” said Andy
Lee, Managing Director Singapore at Cisco.

The program also offers support to Cisco’s 60,000 partner ecosystem. The Business Resiliency Program will help partners provide an additional solution to better serve customers, without any change to their own financial situation, in this challenging business environment. It will accelerate their sales cycles and allow partners to offer their customers payment solutions to better manage their cash flow.

“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, SVP 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.”

 

In
addition, Cisco Capital is supporting customers and partners through Cisco
Refresh, the Cisco
certified remanufactured product portfolio, to help with budget constraints.
Cisco Refresh offers a wider range of products and further discounts and
promotions to help customers and partners receive competitivity priced,
pre-owned products quickly and easily. Cisco Refresh solutions are also
eligible for the Business Resiliency Program where 95 percent of the cost can
be deferred until 2021. 

 

“This is a valuable offering by Cisco” said Will Townsend, Senior Analyst, Networking Infrastructure, Moor Insights and Strategy. “Through my countless discussions with organizations, balancing cash flow while maintaining robust network operations is critical given the impact of COVID-19. I continue to be impressed with Cisco’s proactive strategy to enable its customers, partners, employees and the community overall to maintain productivity in these trying times. The Business Resiliency Program is another example of the company’s overall effort.”

 

The Business Resiliency Program from Cisco Capital is part of Cisco’s overall commitment to supporting customers, partners and communities through the Covid-19 pandemic. Cisco recently committed $225 million in cash, in-kind, and planned-giving to support both the global and local response. This includes technology and financial support for non-profits, first responders and governments. Cisco is also empowering customers and partners with its free Webex and Security offers enabling them to stay securely connected and productive during this time. For more information see:

• Business
  Resiliency Program for Customers
• Business
  Resiliency Program for Partners
• Executive Blog from Chuck Robbins: Committing $225 million to global
  COVID-19 response
• Executive Blog from Oliver Tuszik: Navigating
  Uncharted Waters for Cisco Partners
• Supporting
  Business Continuity During the COVID-19 Pandemic 

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Payment solutions, applicable lenders and availability of any
referenced programs will vary by country. Cisco Capital offers leasing and/or
financing in a limited number of countries. Leasing and/or financing may be
provided by an independent financing vendor in jurisdictions where Cisco
Capital does not offer the applicable leasing and/or financing products. Other
restrictions may apply. Cisco Capital reserves the right to change or cancel
the foregoing at any time without notice.

In California, loans offered by Cisco Capital will be made or
arranged pursuant to California Financing Law.