Processing .....please wait.. 
The article has been forwarded.... 
Cisco extend hands to SMBs through zero interest financing
By Christo Jacob
|
Saturday, 05 July 2008, 00:07 IST
Bangalore: In a highly competitive business environment, where small and medium businesses (SMBs) are relentlessly challenged by technology complexity and rapid technology obsolescence, Cisco, a provider of the networking solutions, is betting on SMB market with the new launch of '0% Financing for Cisco Multi-year Services Program' to help meet the rising demands of SMBs for technology to succeed in business. The program is a 100 percent interest financing for its services delivered to SMBs that helps to ramp up its services business revenue from this segment.
"Currently it is an obsession for the companies that how they can optimize lower the cost of ownership in the technology. They are no more interested in the set top boxes that one offer. However, they are interested in more optimal functionalities and services that these boxes can offer and that is where they invest in," says Gautam Munish, Vice President, Cisco Capital, India & SAARC.
This innovative financing program testifies to Cisco's strategy to tap the in Asia Pacific Region SMB market including India, China, Malaysia and Hong Kong and transform their businesses with technology, while lowering total cost of ownership (TCO).
Advanced technology is a key differentiator that can help businesses enhance competitiveness in the market. SMBs like multinational companies are looking for technology to improve business agility, operating efficiency and staff productivity. However, one of the biggest challenges for SMBs is their budget constraint, which hinders timely decisions on technology procurement and deployment, and as a result affects their business development. "The '0% Financing for Cisco Multi-Year Services Program' has been specially designed and introduced for SMBs to help them deal with this dilemma," said Munish.
The '0% Financing for Cisco Multi-Year Services Program' is offered by Cisco Services and Cisco Capital. It provides an interest-free financing package for multi-year contracts for Technical Services, SMARTnet and Advanced Services programs, to address the budget concerns SMBs face. "In India, the interest-free program will cover services deals of at least $50,000 a year," said G B Kumar, Senior Vice President, Customer Advocacy, Cisco India & SAARC.
The program would be operational till the end of fiscal year 2009. "Based on the success of this program, we might think about taking this program further forward," said Kumar.
Cisco Capital started its operation back in May 2005, as a part of John Chambers investment of $1 billion in India. "Cisco Capital is a sales-enabling business division where it has grown to 60 percent since its inception and has around 160 customers," said Munish.
