Cisco commits to helping customers and partners mitigate the financial challenges brought about by current pandemic with the introduction of a Business Resilience Program offering $2.5 billion in financing.
The Business Resilience Program includes an up-front 90-day payment holiday, and allows customers to defer 95% of the cost of a new product or solution until 2021, protecting business and increasing cash flow. Customers start making monthly payments from January 2021, as based on the total financed amount and the remaining term of the financing. All Cisco solutions are eligible for the program, including hardware, software and services, as well as up to 5% of partner provided services such as installation.
The program also supports the Cisco partner ecosystem with an additional solution to better serve customers, without any change to the financial situation of the partner. The result should be the acceleration of sales cycles as partners can offer customers payment solutions to better manage cash flow. Meanwhile Cisco Refresh, the certified remanufactured product portfolio, helps with budget constraints through a wider range of products and further discounts and promotions. Cisco Refresh solutions are also eligible for the business Resiliency Program, since 95% of the cost can be deferred until 2021.
The above offers follow the Cisco commitment of $225 cash in-kind and planned-giving to support both global and local responses to the pandemic. It includes technology and financial support for non-profits, first responders and governments. Cisco also offers customers and partners free Webex and Security offers for safe connections and productivity during this time.