Cisco Announces $2.5B Financing Program For Customers and Partners During COVID-19 (zdnet.com) 8
Cisco announced Tuesday that it's launching a $2.5 billion financial relief program to help its customers and partners mitigate the economic challenges resulting from the COVID-19 pandemic. From a report: The new financial program -- offered through Cisco Capital, the vendor financing business within Cisco -- features a 90-day payment holiday that allows customers to defer 95% of the cost of a new product or technology until 2021. The program also offers support to Cisco's partner ecosystem, allowing partners to offer their customers alternative payment plans in line with their cash flow. In addition, Cisco is promoting its pre-owned product program Cisco Refresh as another option for fiscally-conscious customers.
Re: (Score:2)
Actually, Cisco's easy pay is at 0% right now and their SMB financing is at 5%.
It varies with the market but Cisco has always had extremely competitive interest rates, typically below market.
With mass migration of industries and services to remote, there's increasing pressure on critical business infrastructure everywhere and most of the companies who stand to use these services don't have the option of not doing anything so this is actually a really positive move for both Cisco and their customers.
LOL! (Score:1)
Financial relief program?
A "90-day payment holiday" is nothing more than a "buy now, worry about cost later" scheme that's the bread and butter of used car salesmen, layaway scams, Rent-A-Center, and crack dealers. How does a 90-day "payment holiday" result in the claim that you can "defer 95% of the cost of a new product or technology until 2021"? Because you're further doubling down on stupid buy leasing / renting, instead of buying and owning hardware outright.
Oh, you desperately need networking update
Re: (Score:3)
I would have said it another way... but I agree with you in principle.
My network has a no Cisco footprint. People who understand protocols and security have little need for the cult.
If a Cisco certification is an indication of your IP and security skills, you are simply calling Cisco support when you have a problem.
What a joke.
Re: (Score:2)
Your rant is mostly warranted, but the financial apologists are seeing dollar signs pass before their eyes as they watch all these companies scrambling to get WFH up and running and realizing there are so many better options available right now. Cisco had to throw something out there to pull in some suckers.
Re: (Score:2)
That's funny... even for an AC.
Even if a company bought solutions from Cisco now... you can't deploy or test that equipment in the middle of a national crisis. It just not happening.
Even if you disregard the "Executive bait" marketing and cult like persona of Cisco let's remember what Cisco sells: Products that a competent systems engineer can duplicate with a chassis and a Linux distribution.
Your post sounds like it was written by a Laissez-faire gaming enthusiast with their first Netgear router.
what about free updates for routers? (Score:2)
what about free updates for routers?