Cisco Capital Launches Easy Lease Program to Help Accelerate Growth of Small and Medium-Sized Businesses in India
Innovative Financing Program Gives Local Companies State-of-the-Art Information Technology and Communications Infrastructure
Hyderabad, India, June 13, 2007 - As part of Cisco’s continuing commitment to help small and medium-sized businesses (SMBs) and midsize companies invest in smart data and communications solutions, Cisco Capital™ today announced the launch of Easy Lease in India. This innovative financing program is designed to enable SMBs to adopt state-of-the-art network technology quickly and easily, with minimal initial investment and maximum convenience.
Easy Lease makes it simple for SMBs to invest in the information technology they need to grow their businesses. By making payments on a monthly or quarterly basis, SMBs can maintain consistent and balanced operating and capital expenditures. Easy Lease offers streamlined lease documentation, flexible payment options and fast turnaround.
According to a recent study by AMI Partners, small and medium-sized businesses in India (those with fewer than 1,000 employees) are planning to spend more than US $8 billion in 2007 to beef up their IT infrastructures, which represents a robust 24 percent increase from last year.
“Indian SMBs understand the critical transformative impact that technology can have on their businesses, but are too often hampered by budget issues that restrict their ability to purchase the equipment they need,” said Gautam Munish, leasing country manager for Cisco Capital India. “This competitive financing offer from Cisco Capital puts Cisco technology within the reach of more SMBs, enabling them to equip their workforces with the latest communications and information technologies and improve productivity. Easy Lease financing actively supports Indian SMB enterprises in their effort to improve their business environment and compete in the local and international marketplace.”
Speaking about his association with Cisco Capital, Shravan K, vice president for Bio IT, Ocimum Bio Solutions, said, “Customized financing solutions by Cisco Capital have helped us maximize cash flow, reduce risk of obsolescence, and retain the flexibility to easily upgrade technologies as needs evolve. All these aspects are crucial for us in meeting our technological requirements so as to better compete globally.”
Sridhar Sriramaneni, vice president of Knoah Solutions, added, “In the outsourcing business, promptness in adapting to client needs can sometimes be the sole differentiator. We often found it difficult to choose between allocating funds for technology upgrades or for meeting other business requirements at any given point in time. Cisco Capital’s flexible financing solution has helped us lower our capital expenditure on technology so we can divert funds to meeting other pressing business needs.”
Cisco Capital financing in India is available through Cisco certified channel partners for all Cisco® products and services. The Easy Lease program is currently available at a special rate of 7 percent for a 12- to 36-month term. The program can provide financing for transactions ranging from Rs 10 lakhs to Rs 80 lakhs.
Cisco Capital was launched in India in 2005 with the formation of a US $150 million fund to provide leasing and other financial solutions to Cisco customers and partners. Globally, Cisco customers in 21 countries have already taken advantage of Easy Lease for innovative financing solutions.
Financing is part of Cisco's whole offer, which includes products, services, partner support and financing tailored specifically for the needs of SMBs. Cisco has also worked out a “smart business” road map for SMBs, a plan that matches short-term and long-term business goals with specific technology solutions to help meet those goals.
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. Cisco Capital offers 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 http://www.cisco.com/web/IN/partners/easylease.
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 equipment in India is supplied by Cisco Systems International BV, a wholly owned subsidiary of Cisco Systems, Inc.
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