Cisco Capital Launches Financing Offer for Channel Partners Deploying Unified Communications
May 30, 2006
Zero Percent Progress Payments Help Channel Partners Reduce Costs and Manage Customer Expectations
SAN JOSE, Calif., - Cisco Systems Capital, a wholly owned subsidiary of Cisco Systems®, announced zero percent progress payments for 120 days on Cisco® Unified Communications projects. Qualified Cisco Capital customers may now ask that Cisco Capital make scheduled payments on their projects as preset milestones are reached. The financing option is designed to help Cisco enterprise and commercial channel partners manage their cash flow on projects with long implementation times.
“Cisco Capital acknowledges that a network isn’t build overnight and that Cisco Unified Communications projects require a channel partner to make an upfront payment, or multiple payments, to suppliers during the period of customer implementation,” said Maryann Von Seggern, director of worldwide channels development, Cisco Capital. “Zero percent progress payments allow us to help channel partners get paid faster, while managing customer expectations with a structured deployment schedule.”
“Managing cash flow is important to any growing company.” said Brett Rimkus, chief financial officer at Berbee, a Cisco Gold Certified Partner. “Progress payments allow us to match our revenue cash flows with our expenses, and they also allow us to extend the same benefits to our clients, through Cisco Capital’s leasing program, without hindering our cash flow. This results in a successful project, both technically and financially.”
To take advantage of this financing offer, channel partners must hold the Cisco IP Communications (IPC) specialization, and the project must entail a minimum transaction of $50,000. The deployment milestones are arranged by the channel partner and customer; the maximum amount funded prior to lease commencement is 80 percent. Payment at each of the agreed-upon stages is made by Cisco Capital to the channel partner upon authorization from the customer, and on payment of the final stage, the total investment is transferred to a lease.
Zero percent progress payments are currently available in the United States and Canada. For more information on zero percent progress payments, please visit: www.cisco.com/go/ciscocapitalpartners/us.
About Cisco Systems Capital
Cisco Capital’s channel financing solutions are designed to provide partners with the power to grow their business. Cisco Capital offers attractive, flexible and short-term financing solutions that make it possible for Cisco partners to obtain higher credit lines, and longer and more flexible terms, that ultimately help them build stronger and healthier businesses. Additionally, Cisco Capital provides partner-only programs, financial incentives, tools, and partner-friendly processes to add value, profitability and ease of use to their projects.
About Cisco Systems
Cisco Systems, Inc. (NASDAQ: CSCO), is the worldwide leader in networking for the Internet. Information on Cisco can be found at http://www.cisco.com. For ongoing news, please go to http://newsroom.cisco.com.
Cisco, Cisco Systems, and the Cisco Systems logo are registered trademarks of Cisco Systems, Inc. and/or its affiliates in the U.S. and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company. This document is Cisco Public Information.
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