Cisco Capital Extends Zero Percent Progress Payments Program for Cisco Unified Communications Solutions
New Partner Portal to Streamline Access to Financing Resources Also Introduced
SAN JOSE, Calif. - As part of its continuing effort to help North American channel partners accelerate growth, better manage their cash flow and deepen customer relationships, Cisco CapitalTM today announced the extension of its highly successful zero percent progress payments program for Cisco® Unified Communications solutions. Cisco Capital also launched the grow i.t. partner portal, which makes it easier for channel partners to access financing offers, tools, resources and training materials.
Based on channel partner feedback, Cisco Capital has extended the zero percent progress payments program for Cisco Unified Communications solutions, now called conserve i.t., through July 26, 2008 and increased the progress payment period from 120 days to up to 180 days for qualifying Enterprise deals over $1 million. With this program, a customer makes no payments and accrues no interest until installation is completed, while the channel partner receives payments from Cisco Capital when preset installation milestones are reached. Using conserve i.t., a Cisco channel partner could save more than $70,000 in interest during a $2 million unified communications installation, based on a 10 percent interest rate during a 180-day deployment. Additional program improvements include reduced documentation and faster payment to the partners.
“The cash flow generated by conserve i.t. makes a substantial impact on our bottom line and ensures customer commitment,” said Kirk Sawyer, CFO with Coleman Technologies. “In the past year, we have seen our Cisco Unified Communications sales volume and average deal size increase steadily. We are pleased that Cisco Capital has increased progress payments to up to 180 days for larger deals and look forward to taking full advantage of the conserve i.t. program.”
To expand channel partners’ financing capabilities, Cisco has launched the grow i.t. partner portal, which provides information ranging from the fundamentals of financing to Cisco Capital-specific programs, offers, tools, training and collateral. The grow i.t. portal is organized in a step-by-step fashion that greatly simplifies navigation. As a result, partners can more effectively apply the resources and tools they need to grow their business. For example, for Easy Lease Commercial transactions, partners can create lease/finance quotes up to $250,000, auto-generate documentation up to $100,000, and pre-credit qualify customers up to $250,000.
“The grow i.t. portal provides everything our sales team needs to leverage financing in our deals,” said Jon Jensen, CEO of Nexus IS. “The comprehensive financing resources and ability to generate financing quotes and documentation are impressive features.”
“Cisco Capital has invested in providing channel partners with the tools, training and programs to drive profitability and help accelerate technology adoption,” said Maryann Von Seggern, director of worldwide channels development for Cisco Capital. “Today’s announcement is part of Cisco Capital’s ongoing effort to deliver financing innovations for partner success.”
For more information about Cisco Capital, the conserve i.t. program and the grow i.t. portal, see www.cisco.com/go/ciscocapital.
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