IBM Adds Power Systems and Storage to Solutions Financing Program
Vendor extends earlier offer to include System p and storage for zero percent, 36-month lease term.
IBM Corp.s Global Financing arm said that it has added the Power Express systems, Power blade servers and a number of mid-range storage systems to a zero percent, 36-month solutions financing offer it initially rolled out in late July for its System x line.
The vendor is touting the financing offer for its simplicity--channel partners add the purchase price of the hardware, software and services and divide by 36 to determine the payment price at zero percentand that it promotes hardware, software and services combinations beneficial to customers.
Financing is available up to $500,000 of IBM technology, although officials said that the offer primarily targets deals of $100,000 or lower. Eligible IBM hardware must comprise 70 percent of the total cost of the contract. Up to 30 percent of other IBM hardware or non-IBM hardware, software and services can be included as well at the same terms.
IBM said that it can grant financing approval in a matter of minutes through its Rapid Online Financing (ROF) tool. Channel partners use the tool, which was launched some five years ago in the U.S. and earlier in Europe, to conduct online financing transactions for IBM and non-IBM hardware, software and services.
The fortified solutions financing program currently is available in North America and will be rolled out to other geographic regions next year.
An offer like this fits best in smaller transaction sizes of $100,000 or lower, said Mark Andrews, IBM vice president, client financing. Its designed to help partners trying to get bundled solutions to their customers while keeping it simple.
Andrews said that IBM expects hundreds of its channel partners to take advantage of the solutions financing offer, enticed not only by the terms but also by the rapid approval turnaround time.
When we take an offer like this, with the approval turnaround time of a couple of minutes that we can do in our online tool, it becomes a powerful addition for partners to incorporate in their solutions to customers, he said.
IBM also said that it has upgraded the ROF tool to include a new My Account function that enables channel partners to track and manage their financed deals both current and pending. Users can employ the function to print and export information into spreadsheets, presentations, email or other formats.
Eligible IBM server and storage under the financing offer includes System x, Midrange Disk Systems such as DS3000, DS4000, DS5000 and Storwize V7000, Power Express systems and Power Blade servers.