Finance captive Cisco Capital has attributed the company’s
“significant” profit and turnover contributions it has made to its
parent company, Cisco Systems, to its ‘easy lease’
product.
Guy Smith, marketing manager for Cisco Capital in Western
Europe, said: “We are recognising in excess of 30 per cent growth
year-on-year in the Western European markets since the launch of
the easy-lease product.”
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Focused on the SMB and mid-market space, Cisco Capital’s
easy-lease product offers 0 per cent financing for those companies
that need to acquire technology immediately without a large initial
outlay.
The product was first launched in the UK in August 2006 and has
since rolled out across most of Europe, with Portugal being the
most recent market capture. Cisco Capital plans to expand the
product into two new countries this year.
Smith added: “The SMB market is a huge growth engine for Cisco
Capital and, in turn, Cisco. Our investment in Cisco Easy Port and
Cisco Easy Voice, and promoting 0 per cent finance, is directly
related to the growth of Cisco’s technology.”
The easy-lease product, which offers deal sizes between £1,000
and £100,000, is delivered via a vendor financing partnership with
Cisco’s resellers across France, Germany, Spain, Netherlands,
Benelux, Nordics, Czech Republic, Hungary, Poland and, recently, in
Portugal.
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By GlobalDataIt offers two programmes: Easy Port, a network, routing and
switching technology service, and Easy Voice, a unified
communication and telephony technology solution.
Smith said the 0 per cent financing allows the mid-market
businesses to address their budgeting needs while also accelerating
the sale of Cisco’s products.
An SMB client can adopt the technology immediately, pay for it
for up to three years without interest and, at the end of the term,
can take title of the equipment at no extra cost.
“In the SMB community, budgets are key elements of the finance
director and managing director’s concerns,” Smith said.
However, Cisco Capital ensures it does not overly dominate
equipment choice for SMB’s because the easy-lease solution
specifies that only 70 per cent of the client’s financing package
need be comprised of Cisco products and the remaining 30 per cent
can be made up of non-competitive products.
