Dell Provides $9B In Financing With New DFS Payment Program
‘This will help our customers move forward with much needed technology investments, when they otherwise might have been focused on conservation of cash,’ says Scott Winslow, president of Winslow Technology Group.
Dell Technologies has launched a new Payment Flexibility Program that includes zero-percent interest rates for infrastructure solutions and up to 180-day payment deferral to help channel partners and customers cope with “the new normal.”
Dell’s financial arm, Dell Financial Services, unveiled the new program on Tuesday that will also make $9 billion in financing available this year to help fund customers’ critical technology needs, said Bill Wavro, president of Dell Financial Services (DFS).
“This is our commitment to help you run your business, take care of your people and access essential technology,” said Wavro in a blog post today. “DFS has been a reliable partner for the last 23 years and will be here to support you, especially during times of uncertainty.”
DFS is introducing zero-percent interest rates for Dell Technologies server, storage and networking solutions with no up-front payment required. The Round Rock, Texas-based company is also deferring first payments up to 180 days on all data center infrastructure and services to help partners and customers manage cash flow.
Dell is also offering short-term options for remote work and learning solutions with six to 12-month terms and refresh options for laptops and desktops. The company is providing a one-year term to flexible consumption offerings through its Dell Technologies On Demand program, which allows customers to scale usage of storage, hybrid cloud, converged, hyperconverged and data protection solutions and only pay for what their use.
Scott Winslow, president of Winslow Technology Group, a Waltham, Mass-based Dell Titanium partner and 2019 CRN Triple Crown award winner, said Dell is stepping up by opening the door to new financial options and customer opportunities for the channel.
“A key part of what we offer to our customers is not just the technology but financing options like DFS operating and capital leases,” said Winslow. “It’s really encouraging, at this time, to see Dell and Dell Financial Services step up and offer creative options like [these]. This will help our customers move forward with much needed technology investments, when they otherwise might have been focused on conservation of cash.”
DFS originations increased 16 percent year over year to $8.5 billion in fiscal year 2020, while its consumption-based offerings have nearly $3.5 billion in assets under management.
Earlier this month, Dell announced it will be providing one-time cash payouts around market development funding (MDF) and fee-waved Services Deployment training for its storage Unity XT, hyperconverged VxRail and data protection DP4400 solutions until May 31, 2020.
For Platinum and Titanium channel partners, Dell is providing a one-time cash payout for up to 50 percent of current partner MDF and Business Development Fund (BDF) balances for use towards marketing activities. Dell partners can apply from now until June 20, 2020. Upon approval, partners will receive immediate payment up front in order to help free up cash flow.
“Today, your business needs a trusted adviser as you reevaluate IT priorities to drive business continuity in ‘the new normal,’” said Wavro. “We’ve built the Payment Flexibility Program on the strong foundation of DFS and industry-leading Dell Technologies’ end-to-end portfolio.”