Cisco Capital and CSA Collaborate to Extend Reach of Financing Programmes which Protect Technology Investments
CSA leads by example by taking up to RM15 million loan package from Cisco Capital.
KUALA LUMPUR, Malaysia, April 20, 2006 - Computer Systems Advisers (M) Berhad (CSA), one of Malaysia’s leading information technology (IT) service providers, and Cisco Systems Capital®, a wholly-owned division of Cisco Systems®, Inc., today announced plans to extend the reach of innovative financing programmes to organisations seeking to maximise returns on their network investments, while lowering deployment costs.
The two companies also announced that Cisco Capital has extended a flexible financing term loan package of up to RM15 million to CSA, the largest financing deal signed by Cisco Capital with a Malaysian company to date.
“We are pleased to be working together with Cisco Capital as it has a very innovative financing programme. When we were looking for a financing option, flexibility, affordability and the ability to upgrade our technology investments were at the top of our list of priorities. One of the key benefits of Cisco Capital’s financing programme is that it provides CSA with the flexibility to refresh its technology investments as and when necessary,” said Chuah Tai Eu, managing director, CSA.
He added that another benefit was that the programme provided the option of easy and convenient payment terms at a competitive rate, which cut down cash management complexity. “With this financing arrangement, CSA will be able to effectively fund future projects while continuing to grow our business,” he said. CSA selected Cisco Capital’s technology financing option to benefit its outsourcing clients currently and hopes to bring the same value to clients from other industries in the future.
CSA is one of Cisco’s top channel partners in Malaysia with a Gold certification and specialisations in three advanced technologies - IP Communications, VPN Security and Wireless LAN. In addition to planning, building and maintaining their customers’ networks that are built with Cisco® solutions, CSA will now also introduce them to the benefits of financing their network investments with Cisco Capital.
Cisco Capital offers multiple financing options and often customises its programmes to suit the beneficiary’s requirements. A company can decide, for example, to rent Cisco’s network solutions with the option of returning, migrating, renewing and/or buying the equipment during or at the end of the leasing term. Renting networking solutions rather than buying and owning it is a fast-growing trend globally. While previously enterprises focused on rapidly building a large network infrastructure, there is today, an increasing realisation that profitability is generated by the usage of an asset rather than its ownership.
“The requirement to upgrade to the latest technology has become an inherent part of the race for technology competitiveness. Cisco Capital offers companies unique tools to better utilise the operating budget to acquire networking solutions, while easing the pressure on the capital budget. It is the best of both worlds for the customer - the latest technology at an acceptable cost,” said Rajiv Menon, regional head of Cisco Capital for Asia.
While independent financing companies have a vested interest in customers keeping the existing platform until the end of the lease or even beyond, Cisco Capital works with its customers to facilitate migration and technology refresh to meet business objectives. Being part of Cisco and working directly with its product development, sales, and service organisations means Cisco Capital has a deeper understanding of Cisco solutions and life cycles, and uses this knowledge to offer tailored, innovative, flexible and competitive financing programmes.
“Many large corporations have already signed up for the Cisco Capital programme in Malaysia and we continue to see very favourable feedback from others to whom we have presented this programme. CSA’s decision to take up the largest financing package in Malaysia so far is a good endorsement of the benefits that Cisco Capital provides,” said Kumaran Singaram, managing director, Malaysia, Cisco Systems.
About Cisco Systems Capital
Cisco Systems Capital is a wholly owned division of Cisco Systems. Its expert financial consultants help meet the financial needs of companies of all sizes to manage technology assets and to safeguard their capital expenditures budgets. It specializes in financing networks by providing innovative, flexible financial programmes to Cisco Systems customers and channel partners. For more information, visit http://www.cisco.com/go/capital.
About CSA Malaysia
Established in 1971, Computer Systems Advisers (M) Berhad (CSA), a member of Computer Sciences Corporation is a Main Board listed company on Bursa Malaysia Berhad. CSA is one of Malaysia’s leading IT Service Providers specialising in systems integration, IT outsourcing, customer services and support. For more information, go to: www.csam.com.my.
About Cisco Systems
Cisco Systems, Inc. (NASDAQ: CSCO) is the worldwide leader in networking for the Internet. News and information are available at www.cisco.com. Asia Pacific news and information are available at www.cisco.com/asiapac/news.
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