HPE partners get a boost from $2B in financing and new programs

Hewlett Packard Enterprise has announced more than $2 billion in financing and a new Payment Relief Program to help both customers and channel partners mitigate their financial challenges stemming from the COVID-19 pandemic.

The assistance will be offered through HPE Financial Services (HPEFS). The new Payment Relief Program will let customers acquire the technology they need now and pay one per cent of the total contract value each month for the first eight months, deferring over 90 per cent of the cost until 2021, the company explained in an April 8 press release.

Beginning in 2021, HPE says each monthly payment would equal approximately 3.3 per cent of the total contract value.

“This is a challenging time to lead a business. Today more than ever, IT leaders and CFOs play a central role in ensuring financial health while continuing operations”, said Irv Rothman, president and chief executive officer of HPE Financial Services.

Susan Middleton, IDC research director of flexible consumption and financing strategies for IT infrastructure, said business should focus on two things.

“As business leaders navigate through the impact of COVID-19 on their markets, IDC recommends that organizations focus on two immediate needs: Conserving capital and utilizing flexible payment options like leasing or as-a-service to meet the urgent capacity requirement with limited financial impact,” she said in the press release.

More information about HPE’s initiatives can be found on HPE’s COVID-19 content hub.

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Alex Coop
Alex Coophttp://www.itwc.ca
Former Editorial Director for IT World Canada and its sister publications.

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