New Cisco programme allows payments to be deferred until 2024

Cisco say the change is a bid to boost tech investments amid challenging economic conditions

Cisco is launching a programme that allows customers to defer payments for new products or solutions bought before July 29, 2023, to defer all payments until 2024.

For partners, the Cisco Capital Business Acceleration Programme provides another flexible payment option to introduce to their customers.

The vendor says it is aware cash flow is a top concern for Cisco customers and partners in the current macroeconomic environment.

All Cisco solutions will be eligible for this programme, including hardware, software, and services, as well as select partner services and third-party hardware.

The Cisco Refresh portfolio of Cisco certified remanufactured products is also eligible.

The company claims this will help organisations acquire competitively priced and ready-to-ship hardware.

"The Cisco Capital business acceleration programme comes in response to customer and partner requests to help mitigate financial challenges based on overall market uncertainty and the impact that it is having on their businesses," said Kristine A. Snow, SVP and president at Cisco Capital.

"Our goal is to provide payment options that allow continuous technology investment to maintain productivity and business continuity while minimising cash outlays.

"Customer success is our priority. The new programme is designed with this in mind and will help address some of our customers' most pressing concerns."

The payment-deferral programme comes a month after Cisco also announced investments around another channel concern: the tech talent shortage.

In March, Cisco announced it was launching a training programme in collaboration with Manchester-based start-up, Multiverse, to help upskill its channel partners to help fill the demand for skilled staff.