HPE Financial Services Offers $2 billion in Financing and New Programs to Help Customers and Partners Weather COVID-19

HPE Financial Services Offers $2 billion in Financing and New Programs to Help Customers and Partners Weather COVID-19

 

HPEFS initiatives help businesses reduce cash outlays, generate cash from assets, and align payments to deployment schedules

 

Hong Kong, May 4, 2020 – Hewlett Packard Enterprise announced that HPE Financial Services (HPEFS) is designating more than $2 billion in financing specifically to help customers with their financial challenges stemming from the COVID-19 crisis, including cash-flow or liquidity issues. HPE Financial Services is also introducing initiatives including a Payment Relief Program to help customers acquire new technology and alleviate some of the financial strain as they navigate this uncertain climate.

 

The $2 billion in HPEFS 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. Additionally, through the new Payment Relief Program, customers can acquire the technology they need today and pay only 1% of the total contract value each month for the first eight months, deferring over 90% of the cost until 2021. This can be a safety buoy for many businesses to help navigate the financial impact of COVID-19 in the next few months. Beginning in 2021, each monthly payment would equal approximately 3.3% 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.”

 

Many businesses today have an immediate need to preserve cash flow, defer or reduce expenses, and relieve capacity strains and delivery delays. “During this crisis, businesses need help regardless of size of company or industry vertical. IDC recommends that organizations focus on two immediate needs: Conserving capital and utilizing flexible payment options like leasing or as-a-service to meet urgent capacity requirement with limited financial impact”, said Susan Middleton, IDC Research Director, Flexible Consumption and Financing Strategies for IT Infrastructure. “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.”

 

HPEFS is rolling out several programs designed to address these priorities:

 

Generating cash from existing assets

HPEFS helps customers unlock value from their own technology through converting existing, owned IT assets into capital that can be applied to purchase new, upgraded technology. This incremental capital resource can help close the gap with IT expenditures or give customers the flexibility to support other parts of their business. 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.

 

Deferring or reducing expenses

In addition to the HPEFS Payment Relief Program, the team 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.

 

Matching payments to production

HPEFS offers customers a phased deployment program 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.

 

Relieving capacity strain or delivery delays

HPEFS is offering certified pre-owned HPE technology to address a variety of situations. A full portfolio of data center equipment, such as components, parts, subassemblies, feature upgrades or whole systems, is available off the shelf or custom-configured to meet customer budget or circumstance. This technology meets HPE OEM standards and comes with a standard 30-day warranty, eligible for additional HPE maintenance and support.

 

Offering short term rentals

Many customers also experience challenging capacity strain or delivery delays. The most common example of that is companies who are not ready for a work-from-home set up and need technology to empower a remote workforce. HPEFS can help by renting pre-owned HPE technology from three to twelve months, and new PCs for twelve months. This technology is factory-configured to customer specifications, available with warranty and eligible for HPE Pointnext Services support.

 

“Almost every organization is looking for help right now. Now more than ever, capacity and remote worker access are of paramount importance”, said Ashley Penner, CEO, Powerland. “By utilizing HPEFS’ certified pre-owned tech, Powerland is able to quickly provide much-needed technology to our healthcare and education customers. The partnership with HPEFS is invaluable.”

 

HPE is committed to helping communities, customers, and partners during this time of global uncertainty and is applying its time, talent, resources, and technology to address the new challenges and requirements that organizations face as a result of COVID-19. For example, HPE recently rolled out VDI (virtual desktop interface) solutions to help customers support and adapt to growing demands for a remote workforce. To learn more about HPE’s initiatives please visit the HPE COVID-19 content hub, and see the latest blog from Antonio Neri, HPE President and CEO.

 

About Hewlett Packard Enterprise

 

Hewlett Packard Enterprise is the global edge-to-cloud platform-as-a-service company that helps organizations accelerate outcomes by unlocking value from all of their data, everywhere. Built on decades of reimagining the future and innovating to advance the way we live and work, HPE delivers unique, open and intelligent technology solutions, with a consistent experience across all clouds and edges, to help customers develop new business models, engage in new ways, and increase operational performance. For more information, visit: www.hpe.com.

 

Financing available through Hewlett-Packard Financial Services Company and its subsidiaries (HPFSC) to qualified customers and is subject to credit approval and execution of standard HPFSC documentation. Rates and terms are based on customer’s credit rating, offering types, services and/or equipment type and options. Other charges, including without limitation, taxes, fees and shipping charges, may apply. Not all HP products are eligible. Not all customers may qualify. Other restrictions may apply. HPFSC reserves the right to change or cancel this program at any time without notice.

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email

RELATED POSTS

5 Essential Tricks to Master Microsoft Excel

5 Essential Tricks to Master Microsoft Excel

Microsoft Excel (MS Excel) is a must-have for any business. It is a powerful spreadsheet software application that allows users to store, organize and analyze data. While Excel is fairly easy to use, it can be tricky to become an expert. Don’t know where to start? We have compiled a list of easy-to-follow hacks that will help you become a pro at Excel!

Top Three Weirdest Mobile Game Advertisements

Top Three Weirdest Mobile Game Advertisements

Whether on YouTube or Instagram, I’m sure you all must have seen at least one mobile game advertisement. One common trope with today’s mobile game advertisements is that they tend to mislead their audience.
You might have come across these weird ads while scrolling through social media: In the ad for the strategy game “Game of Sultans”, a sultan is fat-shaming his daughter; in the match-three puzzle game “Lily’s Garden” ad, women use washing machines as vibrators.

The Maximalist Fashion Trend Where Did It Come From and Where Is It Going

The Maximalist Fashion Trend: Where Did It Come From and Where Is It Going?

If you Google “maximalist fashion”, you will be swamped with dressing guides dedicated to this “the more, the better” trend published by leading fashion magazines in 2022. Rapidly gaining popularity in the last couple of years, maximalist styles are breaking out of the runway of an Haute Couture fashion show, a red carpet event or a K-pop performance to conquer streets in high fashion neighborhoods.

How Is Technology Influencing the Food and Beverage Industry

How Is Technology Influencing the Food and Beverages Industry?

Food waste, sustainability and animal cruelty are some of the biggest challenges facing the food and beverage (F&B) industry nowadays. Like any other sector, the industry is dipping its toe into technology and innovations to seek solutions. While we are already seeing more food tech solutions in our everyday lives, like plant-based meat alternatives and food waste management startups.

3 Innovations for a Cleaner Environment You Never Heard Of

3 Innovations for a Cleaner Environment You Never Heard Of

Innovation in clean energy, sustainable infrastructure and eco-friendly solutions to environmental hazards are the need of the hour. The burden on the world’s natural recourses is immense, and it is high time we focus on renewability and diversification. While we are only scratching the tip of the iceberg, here are three innovations working to create an environment-friendly future.