HP extends financing offer to Middle East partners
HP resellers will be able to help customers structure the payment of new projects
HP resellers will be able to help customers structure the payment of new projects after the vendor was granted internal approval to make a series of financing facilities available through channel partners in the region.
The move hands authorised partners fronting large deals the opportunity to request financial services from HP so that the project is more manageable for the customer to afford.
It is believed that HP will initially offer around five initiatives in the Middle East, including buy-back lease tools and straightforward financing schemes with instalment plans.
Although such programmes have long been available to resellers in Europe, it is the first time that HP has given the green light for them to be offered in the Middle East.
It is not clear if the decision to broaden the availability of its financial offerings is connected to the current market crisis, but with end-users scrutinising their IT investments and banks unwilling to lend, it provides customers with an extra option at a time when many are finding it tough to fund new projects.
“Together with the partner we have to submit the entire project or purchase that should be financed to our financing team in Geneva and they will then come back with certain conditions and offers,” explained Bernhard Isemann, solutions partner organisation manager at HP Middle East. “Everything is looked at on a case by case basis, but it takes the reseller’s financial involvement out of the chain so the partner does not take any risk in this.”
HP’s global financial services team is likely to face a busy time of things in the coming weeks given the vendor’s efforts to tempt end-users into buying its technology.
Late last month the company announced a 0% financing promotion for SMEs in North America in a bid to stimulate investment among small businesses. The promotions allow SMBs to finance between $1,500 and $150,000 worth of products from its portfolio on either a 12-month purchase or 36-month lease basis.