Dell Technologies today announced it will make $9 billion in financing available to partners and customers as part of an effort to drive IT deals during the economic downturn brought on by the COVID-19 pandemic.
As part of that effort, Dell also announced it is making zero-percent interest rates loans available via its finance arm for all Dell Technologies server, storage and networking solutions and that it will defer first payments for up to 180 days.
Dell Technologies has also added a one- year term to the Dell Technologies On Demand program through which organizations can consume IT resources as they are used.
Finally, Dell Technologies is also adding short term options for remote work and learning solutions with 6 to 12-month terms and refresh options for laptops and desktops.
Most end customers are tapping into existing lines of credit to drive operations, so it’s more important than ever for channel partners to rely on IT vendors with deep pockets to drive deals, says Darren Fedorowicz, vice president of Dell Financial Services.
In fact, IT vendors such as Dell Technologies are much more inclined to fund IT deals than a local financial institution, adds Fedorowicz.
“We have a vested interest,” says Fedorowicz.
The funds made available from Dell Technologies also serve to augment the lines of credit that distributors typically extend to partners as well, notes Fedorowicz.
It’s still unclear how long the downturn might last. However, there are vertical industry segments that continue to invest in IT, while others are certainly going to look to modernize their IT environments faster discovering their existing IT environments are not flexible enough to adjust to rapidly changing business conditions.
Whatever the outcome, the one thing Fedorowicz says is for certain is more IT will be consumed on a consumption basis as organizations continue to conserve cash regardless of whether it’s delivered by an IT vendor or channel partner.
Be First to Comment