In the IT Channel, the only constant is change. Innovation and new technologies emerge, solutions are developed, and legacy systems are replaced or modified. This natural order is a healthy expression of an industry founded on the principle of iterative technologies, each more powerful than the last. Despite the cost associated with such an order, solutions like Cisco Capital are available to partners looking to realize the full potential of their offerings.
Cisco Capital is a program that provides partners with the means to continue embracing new and iterative solutions while forgoing the immediate costs associated with cutting-edge technology. To better explain the role of the program and what partners need to properly utilize it, EDGE360 reached out to Wayne Super, Vice President of Capital Markets at Cisco.
Super’s two and a half decades of experience at Cisco make him the perfect individual to provide his insights on a program like Cisco Capital and what it takes to make the most of it.
EDGE360 Editors: To start us off, what is Cisco Capital in your own words? What should partners know about programs like it?
Wayne Super: At the highest level, Cisco Capital provides Cisco’s partners and customers with payment and lifecycle management solutions in an inclusive and accessible manner. Programs like Cisco Capital aim to deliver flexibility and choices, making it easier for their businesses to acquire and manage technology, grow, and go to market faster with Cisco.
For example, Cisco Capital is available in more than 100 countries offering complete hardware, software, and services payment solutions; software and services payment solutions; circular IT payment solutions; and consumption solutions.
These payment solutions allow partners to do numerous things, which could otherwise be difficult to do. Just to name a couple, it can allow partners to close more profitable deals faster and increase the deal size itself. Financing can make buying decisions easier and shift the conversation away from discounting, which helps shorten the sales cycle.
Another way that it helps is by increasing the partners’ competitiveness and, ultimately, increasing the end-users’ profitability. The whole purpose of Cisco Capital is to give partners more competitive options to offer users, and when you can offer something that is both flexible and customizable, it makes it easier to attract and retain business.
One final way that we see Cisco Capital helping is to make closing deals and finding new business much easier. Partners should strive to become a trusted advisor because having those inroads makes expanding business easier. Being able to meet the user at their needs, being flexible, and having a built-in refresh opportunity once the agreement runs its course provides multiple opportunities to deepen existing relationships and explore new ones.
And these are just a few of the things that I view as the most important parts of Cisco Capital. Really, it’s a program designed to make partners more able to succeed, despite everything else happening around the channel and the world.
EDGE360 Editors: With ongoing macroeconomic trends tightening budgets across the board, how does a program like Cisco Capital benefit partners?
Super: IT payment solutions are designed to provide businesses with the freedom to acquire the technology they need to grow and react to changing market needs. Revenue is often unpredictable during the economic downturn, and it will be vital for businesses to be able to align their capital expenditures with their revenue – and to adjust when they need to, as well.
At Cisco Capital and Cisco Refresh, we strive to provide businesses with the opportunity to continue to grow their businesses within budget, all while navigating micro and macroeconomic trends.
EDGE360 Editors: How are Cisco Capital’s payment solutions structured to help partners take advantage of the program?
Super: In addition to payment over-time solutions, the Channel Financing program offers select Cisco partners extended credit lines and payment terms greater than Cisco’s standard net-30 days through an ecosystem of global financial services partners. This improves your cash flow, profitability, and operational efficiencies.
EDGE360 Editors: We have heard about Cisco Refresh for a while now. How does that program factor into the Cisco Capital Program? What benefit is there for partners in using certified remanufactured equipment?
Super: Cisco’s certified remanufactured products are backed by the same Cisco warranty and support options as new products. Equipment is sold through Cisco-authorized resellers and is available in more than 70 countries. The inventory includes products from all Cisco technology areas, including switching, routing, wireless, IP telephony, security, and other advanced technologies.
Cisco Refresh is a powerful tool to grow sales. Our remanufactured products give you a compelling way to protect and maintain your current account base. Cisco Refresh is a solution for all the concerns that drive customers to consider remanufactured Cisco products: price, availability, convenience, and environmental concern. Offering a complete solution inclusive of Cisco Refresh SKUs can be more competitive in price-sensitive situations while maintaining account control.
There is a lot more to refresh that partners should know, but ultimately, it comes down to four key benefits:
Protect your customer base with a trusted alternative: Win and close deals earlier and protect your deals from competitors and grey market brokers.
Enhance your value proposition with integrated solutions: Become a sole source for both new and remanufactured products.
Fulfill immediate delivery orders: Offer Cisco Refresh when orders need to be shipped quickly.
Offer a sustainable solution: Provide your customers with equipment with a reduced environmental footprint. Remanufactured products may have less environmental impact due to raw materials extraction and manufacturing compared to new products.
To learn more about Cisco Capital, click here.
