Cisco commits $2.5B for "business resiliency" financing for partners

Chuck Robbins, Chairman and CEO, Cisco

Cisco partners ecosystem is more than 60,000 globally, with all Cisco solutions spanning across - hardware, software and services space.

“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.”

As per Robbins, cash flow ranks high as a leading concern for both partners and customers during this current crisis. The program includes an upfront 90-day payment holiday and allows a customer to defer 95% of the cost of a new product or solution until 2021, with the aim of protecting partner assets and increasing existing cash flow reserves.

Starting in January 2021, customers can then make a monthly payment based on the total financed amount and the remaining term of the financing. With all Cisco solutions eligible, up to five percent of partner provided services, such as installation, is also included in the plans.

Cisco commits $2.5B in “business resiliency” financing for partners and rolled out a new round of support incentives to help partners and customers overcome rising COVID-19 challenges, with US$2.5 billion in financing at the centrepiece. It will be delivered through Cisco Capital - the vendor’s financial division - the new Business Resiliency program is designed to mitigate cash flow concerns in the channel through “payment holiday” schemes and customer deferral options.

As per the report, Cisco Refresh has been launched to provide partner access to the vendor's certified remanufactured product portfolio, which houses a wider range of discounted products and solutions through a pre-owned suite of offerings.  Cisco is empowering the partners through free Webex and Security offers enabling them to stay securely connected and productive during this time.