As the tech industry evolves, adapting to customers’ and partners’ needs and preferences is a responsibility Cisco takes seriously. There is a growing demand for subscription-based models to address this, Cisco Capital developed Cisco Choice Pay, a groundbreaking subscription-like payment solution designed to transform hardware acquisition and payment methods. This innovative offer provides partners the flexibility to address their customers’ diverse financial preferences while ensuring access to the latest Cisco hardware and associated services.
Cisco Choice pay lives up to its name by offering just that — choice. In an interview with EDGE360, Larry Scherzer, Senior Managing Director, Cisco Capital, explained, “If a customer prefers a subscription versus a lease or loan, partners can now provide a subscription-like experience for the entire Cisco product line through Cisco Choice Pay.” While it is primarily for hardware, customers can bundle associated software and services.
Scherzer went on to share the biggest differences between a subscription and a lease, including the “explicit ability to cancel before the end of the term, flexibility to use but not own, streamlined terms and conditions, lower cost of usage, and potential opex treatment.”
“Cisco Choice Pay complements the suite of ‘use versus own’ payment options. Plus, customers can acquire their solutions leveraging Cisco Lifecycle Pay, a standard operating lease; Cisco Lifecycle Pay with Trade-In Incentive, which adds up to a 10 percent incentive when the customer trades in their existing Cisco or non-Cisco equipment; Cisco Green Pay, a sustainability product with a focus on circularity; and now Cisco Choice Pay, a subscription-like solution,” Scherzer said.
Partner Benefits
In addition to adding another flexible payment solution to partners’ toolkits, Cisco Choice Pay offers other benefits to partners. It enables fixed monthly payments and offers customers an annual termination option. Partners are paid upfront, secure profitability, and reduce transactional risk. Profitability can also be enhanced through bundling additional partner services. Cisco Choice pay offers even more flexibility for partners as it can be offered directly or through a managed service offering.
Customer Benefits
Customers can better manage their technology needs, while accessing the latest Cisco hardware features and functionality. It helps customers easily upgrade their hardware without having to lock into a long-term commitment because of flexible end-of-term options. In addition, customers can lower upfront costs and spread payments over time with smaller, fixed recurring payments.
“Cisco Capital provides both partner and customer facing marketing materials. Additionally, we have partner account managers and payment solutions specialists who are available to train partners or present the solutions directly to customers,” Scherzer added. Partners are encouraged to reach out for assistance.
To learn more, please contact a Cisco Capital financial specialist here.
