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| 10/16/2006 |
| FOR IMMEDIATE RELEASE |
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| Cisco Systems Capital Introduces Financing Programs to Accelerate Growth for Channel Partners Serving Small and Medium-Sized Businesses |
| Enhanced EasyLease and Extended Zero Percent Progress Payments Enable Cisco SMB-focused Channel Partners to Increase Revenue and Close Deals More Quickly |
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San Jose, CA — Cisco Systems Capital, a wholly owned subsidiary of Cisco Systems , today announced new financing tools and resources to simplify, automate and streamline the leasing process for Cisco
channel partners serving small and medium-sized businesses, the fastest growing segment of the voice and networking market. These initiatives allow partners to offer leasing alternatives so their SMB customers can
acquire the Cisco products they need more quickly and with less capital outlay. |
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| Last year, Cisco Capital entered the SMB market with the introduction of EasyLease, a leasing platform that provides competitive financing solutions to support and complement Cisco's SMB growth initiatives. A key component of EasyLease is the @once
finance tool, which initially provided fast-track credit approvals and lease pricing for transactions under $250,000. Cisco channel partners in 16 countries have already taken advantage of EasyLease to provide innovative financing solutions to their
customers. |
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| Cisco today announced that U.S. channel partners can now use @once to generate lease documentation for transactions under $50,000. As a result, channel partners can complete pre-sale credit applications, create a lease quote and generate lease
documentation in minutes-a process that used to take up to five business days. This new self-service capability makes it easier for channel partners to bring leasing to every Cisco SMB deal. Partners can also manage their leasing customer portfolio
and run reports online using @once. |
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| "Today's enhancements transform the leasing experience for channel partners and give them greater control of the financing process from application to funding," said Maryann Von Seggern, director of worldwide channel development, Cisco Capital.
"EasyLease makes it possible for partners to build leasing into the deals upfront and follow through quickly with necessary paperwork and approvals. Enabling our channel partners to deliver complete SMB solutions, including technology, services and
financing, is a win-win for Cisco, its partners and our mutual customers." |
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| Single Path, Cisco's Midwestern Regional SMB Partner of the Year, engages Cisco Capital leasing to help them acquire customers and manage future business. Single Path has completed over 300 IP Communications deployments, and, during the past year,
39 percent of their Cisco transactions included Cisco Capital leasing. |
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| "Our customers are looking to refresh their technology every three to five years, in addition to investing in items that relate to their core competencies," said Matt Briggs, Single Path partner. "@once allows us to turn approvals and lease quotes
around in a matter of minutes, and the addition of automatic lease document generation is a huge timesaver. It gives all parties peace of mind knowing the financing is in order, so we can focus on the complete solution. Working directly with Cisco Capital
rather than third-party leasing agencies has helped us address our customers' technology and fiscal needs and close more deals." |
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| To further grow their business and improve cash flow management, channel partners can also take advantage of a Cisco Capital's zero percent progress payment promotion, which has been extended through July 28, 2007. This program was designed specifically
to reduce channel partners' out-of-pocket expenses during Cisco Unified Communications deployments. Through this program, Cisco Capital will make scheduled payments to the channel partner at mutually agreed upon project milestones, while the customer doesn't
pay until deployment is completed. For the first 120 days, this is done with no financing charges whatsoever. To take advantage of this financing offer, channel partners must hold the Cisco IP Communications (IPC) specialization, and the transaction must be
$50,000 or greater. Zero percent progress payments are available in the United States and Canada until July 28, 2007. |
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| Over the past three years, Cisco has invested billions in the SMB market, a segment that is growing more than 20 percent annually, according to industry analysts. The new financing tools and programs from Cisco Capital are fully integrated with Cisco's SMB
partner strategy, specifically designed to help SMB and mid-market resellers increase their competitive advantage and drive more business within this rapidly growing customer segment. For more information about Cisco Capital, EasyLease or zero percent progress
payments, see www.cisco.com/go/ciscocapitalpartners/us. |
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| About Cisco Systems Capital |
| Cisco Capital's channel financing solutions are designed to provide partners with the power to grow their business. Cisco Capital offers attractive, flexible and short-term financing solutions that make it possible for Cisco partners to obtain higher credit lines,
and longer and more flexible terms that ultimately help them build stronger and healthier businesses. Additionally, Cisco Capital provides partner-only programs, financial incentives, tools, and partner-friendly processes to add value, profitability and ease of use to
their projects. |
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| About Cisco Systems |
| Cisco Systems, Inc., (NASDAQ: CSCO), is the worldwide leader in networking for the Internet. Information about Cisco can be found at http://www.cisco.com. For ongoing news, please go to http://newsroom.cisco.com. |
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| Cisco, Cisco Systems, and the Cisco Systems logo are registered trademarks or trademarks of Cisco Systems, Inc. and/or its affiliates in the United States and certain other countries. All other trademarks mentioned in this document are the property of their respective owners. The use of the word partner
does not imply a partnership relationship between Cisco and any other company. This document is Cisco Public Information. |
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