HPE Financial Services commits $2bn to help customers weather COVID-19

Bengaluru, April 13 (IANS) The edge-to-cloud company Hewlett Packard Enterprise (HPE) on Monday announced that its HPE Financial Services (HPEFS) subsidiary is designating more than $2 billion in financing to help customers with cash-flow or liquidity issues during the ongoing COVID-19 crisis.

The $2 billion financing will be applied to help customers ensure business continuity and adapt in the current environment by addressing new technology financing needs, and convert their IT infrastructure into new sources of capital, the company said in a statement.

As part of another payment relief programme, customers can acquire the technology they need today and pay only 1 per cecnt of the total contract value each month for the first eight months, deferring over 90 per cent of the cost until 2021.

Beginning in 2021, each monthly payment would equal approximately 3.3 per cent of total contract value.

“This is a challenging time to lead a business. Today more than ever, IT leaders and CFOs play a central role in ensuring financial health while continuing operations”, said Irv Rothman, President and CEO of HPE Financial Services.

“At HPE Financial Services, we are committed to helping businesses align their priorities from an IT economics perspective and provide them with concrete solutions so they can move forward,” Rothman added.

Many businesses today have an immediate need to preserve cash flow, defer or reduce expenses, and relieve capacity strains and delivery delays.

In addition to the payment relief programme, the company is also enabling a 90-day delayed payment structure to help ease customers’ tight budgets.

This payment deferral option is available on new technology purchases, and is eligible for a range of HPE hardware and select software, software appliances, services, and installation packages.

“By dedicating $2 billion in financing and leveraging its broad portfolio of flexible payment solutions, HPEFS will help business leaders navigate through the impact of COVID-19 on their markets,” said Susan Middleton, IDC Research Director, Flexible Consumption and Financing Strategies for IT Infrastructure.

HPEFS can also buy back excess newer generation technology that is no longer needed at the customer’s end.

Over the last two years, HPEFS has infused more than $642 million back into clients’ budgets this way, informed the company.

HPEFS is also offering customers a phased deployment programme that allows them to acquire compute and storage capacity now with the flexibility to configure, test, and stand up systems before paying.

“This way, customers can continue essential business without the restraints that the current crisis can have on their budget cycles or implementation timelines. The deployment schedule can extend out 12 months,” said the company.

–IANS

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