Contact Information: Press Contact: Ron Schmidt Cisco 408 525-6088 ronschm@cisco.com Analyst Relations Contact: Ron Davis Cisco 408 526-8803 ronadavi@cisco.com
Cisco Capital Extends Zero Percent Progress Payments Program for Cisco Unified Communications Solutions
New Partner Portal to Streamline Access to Financing Resources Also Introduced
| Source: Cisco Systems, Inc.
SAN JOSE, CA--(Marketwire - October 15, 2007) - As part of its continuing effort to help North
American channel partners accelerate growth, better manage their cash flow
and deepen customer relationships, Cisco (NASDAQ : CSCO ) Capital™ today
announced the extension of its highly successful zero percent progress
payments program for Cisco® Unified Communications solutions. Cisco
Capital also launched the grow i.t. partner portal, which makes it easier
for channel partners to access financing offers, tools, resources and
training materials.
Based on channel partner feedback, Cisco Capital has extended the zero
percent progress payments program for Cisco Unified Communications
solutions, now called conserve i.t., through July 26, 2008 and increased
the progress payment period from 120 days to up to 180 days for qualifying
Enterprise deals over $1 million. With this program, a customer makes no
payments and accrues no interest until installation is completed, while the
channel partner receives payments from Cisco Capital when preset
installation milestones are reached. Using conserve i.t., a Cisco channel
partner could save more than $70,000 in interest during a $2 million
unified communications installation, based on a 10 percent interest rate
during a 180-day deployment. Additional program improvements include
reduced documentation and faster payment to the partners.
"The cash flow generated by conserve i.t. makes a substantial impact on our
bottom line and ensures customer commitment," said Kirk Sawyer, CFO with
Coleman Technologies. "In the past year, we have seen our Cisco Unified
Communications sales volume and average deal size increase steadily. We are
pleased that Cisco Capital has increased progress payments to up to 180
days for larger deals and look forward to taking full advantage of the
conserve i.t. program."
To expand channel partners' financing capabilities, Cisco has launched the
grow i.t. partner portal, which provides information ranging from the
fundamentals of financing to Cisco Capital-specific programs, offers,
tools, training and collateral. The grow i.t. portal is organized in a
step-by-step fashion that greatly simplifies navigation. As a result,
partners can more effectively apply the resources and tools they need to
grow their business. For example, for Easy Lease Commercial transactions,
partners can create lease/finance quotes up to $250,000, auto-generate
documentation up to $100,000, and pre-credit qualify customers up to
$250,000.
"The grow i.t. portal provides everything our sales team needs to leverage
financing in our deals," said Jon Jensen, CEO of Nexus IS. "The
comprehensive financing resources and ability to generate financing quotes
and documentation are impressive features."
"Cisco Capital has invested in providing channel partners with the tools,
training and programs to drive profitability and help accelerate technology
adoption," said Maryann Von Seggern, director of worldwide channels
development for Cisco Capital. "Today's announcement is part of Cisco
Capital's ongoing effort to deliver financing innovations for partner
success."
For more information about Cisco Capital, the conserve i.t. program and the
grow i.t. portal, see www.cisco.com/go/ciscocapital.
About Cisco Capital
Cisco Systems Capital Corporation, a wholly owned subsidiary of Cisco
Systems, Inc., specializes in financing networks by providing innovative,
flexible financial programs to Cisco customers and channel partners
worldwide. As part of Cisco's total solution, Cisco Capital helps channel
partners to manage cash flow, grow sales and increase profitability, while
offering attractive, flexible and short-term financing solutions that make
it possible for customers to obtain higher credit lines and longer and more
flexible terms that ultimately help them build stronger and healthier
businesses. For more information, visit www.cisco.com/go/ciscocapital.
About Cisco Systems
Cisco (NASDAQ : CSCO ) is the worldwide leader in networking that transforms
how people connect, communicate and collaborate. Information about Cisco
can be found at http://www.cisco.com. For ongoing news, please go to
http://newsroom.cisco.com.
Cisco, the Cisco logo, Cisco Capital, and Cisco Systems are registered
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mentioned in this document are the property of their respective owners. The
use of the word partner does not imply a partnership relationship between
Cisco and any other company. This document is Cisco Public Information.
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