Cisco Capital Introduces Easy Lease Program to Help Accelerate Growth of Small and Medium-Sized Businesses in Western India
Innovative Financing Program will help local companies to access state-of-the-art information technology and communications infrastructure
Pune is among the fastest growing SMB markets for Cisco in India
Pune, India, October 25, 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 across Western 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 US $8 billion in 2007 to beef up their IT infrastructures, which represents a robust 23 percent increase from last year. The manufacturing vertical alone will account for US$2.9 billion or 36 percent of the overall spend.
“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. 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,” said Gautam Munish, leasing country manager for Cisco Capital India.
“Western India is a key market for Cisco Capital owing to the substantial growth of the SMB segment in the region. Moreover, since Easy Lease is being offered through channel partners, customers located across the geography will also have easy access to the program”, he added.
In order to generate awareness among SMB customers in the region, Cisco plans to roll out a series of marketing programs and activities aimed at creating awareness for Cisco Capital’s Easy Lease program, across the region. These would include SMB plays along with the local partners in various cities along with other marketing initiatives.
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/index.html
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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