Critical.
Authoritative.
Strategic.
Subscribe to CIO Magazine »

IBM offering $US4 billion in credit through partners

The announcement follows a $US1 billion credit push to SMBs last year

IBM is offering $US4 billion in new credit to customers through its partner channel, and has also developed a new mobile application to help them get financing quickly, the company announced Thursday.

The move follows a $US1 billion credit allocation IBM announced last year for small and medium-size businesses. As a result of that offer, some 6,800 global companies took advantage of financing to buy IBM products and services within a year, instead of an expected 18 months, IBM said in a statement.

IBM's new Global Financing mobile application will be rolled out in the U.S. this month. A worldwide release will start in January, beginning in China.

The application will allow partners to "provide their clients with price proposals and generate credit approvals within minutes using an iPad, iPhone or Android mobile device," on deals valued at up to $500,000, IBM said.

Financing packages will begin as low as zero-percent interest for one year, with no down payment required, according to IBM. Offers will be available through partners in more than 50 countries, it added.

The move seems aimed at getting businesses to continue making IT purchases even as credit markets remain tight and the global economy is on uncertain footing.

IBM itself is well positioned to offer the credit line, having $US12.3 billion in cash on hand as of the quarter ended September 30.

Its announcement comes just days after rival hardware and software vendor Hewlett-Packard expanded its own partner financing program.

Chris Kanaracus covers enterprise software and general technology breaking news for The IDG News Service. Chris' email address is Chris_Kanaracus@idg.com

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

More about: Hewlett-Packard, IBM, IDG
Comments are now closed.
Related Coverage
Related Whitepapers
Latest Stories
Community Comments
Tags: business issues, services, IBM, hardware systems, software, investments
Latest Blog Posts
Whitepapers
  • IDC Case Study: Convergence with Vblock Systems: A Value Measurement
    This whitepaper details the results of a series of interviews conducted by IDC with 11 IT organizations, enterprises, and major service providers that deployed converged infrastructure systems based on Vblock Systems.
    Learn more »
  • Smarter Data Centre Outsourcing: Considerations for CFOs
    Deloitte explores the business and finance implications associated with managing data centres. This paper outlines the options available to structure an organisations data centre and complementary IT services and provides the key considerations that need to be reviewed when determining which option works best for them.
    Learn more »
  • Modernize Your Business with Oracle ERP Cloud
    If your business has plans that include aggressive growth and aspires to be a best-in-class organization, your IT systems and applications need to be up to the task. Homegrown solutions or outdated software can hamper the execution of your strategic vision. If your IT infrastructure and maintenance costs are affecting your ability to stay competitive, then a cloud-based enterprise resource planning (ERP) suite is well worth exploring. This eBook explores the core components of a cloud-based ERP solution that delivers enterprise-class software without sacrificing functionality or changes to business processes and with no additional cost for infrastructure and complicated integrations.
    Learn more »
All whitepapers
rhs_login_lockGet exclusive access to Invitation only events CIO, reports & analysis.
Salary Calculator

Supplied by

View the full Peoplebank ICT Salary & Employment Index


Computerworld
ARN
Techworld
CMO