HPE Financial Services offers more than $2 billion to help businesses.
HPE Financial Services (HPEFS) is out to help the customers and the channel partners that support them. On Tuesday it announced relief financing to the tune of more than $2 billion. The new HPEFS initiatives target liquidity and cash, a concern of utmost importance to business customers in the midst of the COVID-19 pandemic.
HPE Financial Services’ Payment Relief Program aims to help customers buy new technology today. It also offers other financial initiatives.
“We’re very much open for business,” Paul Sheeran, vice president, worldwide channel and SMB business at HPEFS, told Channel Futures. “HPE Financial Services has very strong relationships with the partner community, worldwide. We work closely with our partners and customers in making sure that we can support them through these terrible times.”
The new program allows customers to get the new technology they need today. Customers will pay only 1% of the total contract value each month for the first eight months. This allows them to defer more than 90% of the cost until 2021. Beginning in 2021, each monthly payment will equal approximately 3.3% of total contract value.
While HPE Financial Services targets customers with these new initiatives, it also demonstrates that HPEFS is standing behind partners as well. And end users can reach HPEFS directly or through the channel. HPEFS offers rewards for partner assistance.
“These initiatives will provide partners the extra confidence to go and approach customers and continue doing business where possible right now,” said Sheeran. “The main message that we’re hearing from partners and customers is, ‘How can we conserve our cash and protect our balance sheet and PLO as we navigate through uncertain times?’”
The majority of HPE’s business worldwide is via channel partners. Partners can position these programs for their customers. The HPEFS Technomics portal is a quick and digital route for partners to transact business with HPEFS. It offers digital or electronic signatures.
“By leveraging these programs, partners can use our cash instead of their own lines,” Lee Eberding, global director channel and SMB go-to-market at HPEFS, told Channel Futures. “That’s in terms of paying for the product and the inventory. By processing the business through these programs, it can help partners manage their own financial situation as well.”
HPEFS will do business as usual using the same underwriting criteria. Minimum deal size is $5,000 covering SMBs through global accounts.
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