IBM Offers $4B in Financing to Support Cloud, Analytics
Nov. 15, 2012 - IBM announced that it will provide its business partners worldwide with $4 billion in financing for their credit-qualified clients over a period of 12 months to enable clients to acquire advanced technologies like cloud computing, business analytics and PureSystems technology. IBM also launched a new mobile app to make it possible for partners to apply for and secure financing for their clients within minutes via any mobile device.
The new mobile app from IBM Global Financing is intended to make it easier for partners to provide clients with price proposals and generate credit approvals quickly an iPad, iPhone or Android mobile device. The mobile app will be available in the United States this month and will be rolled out globally beginning in China in January 2013.
Partners can use the app on contracts worth up to $500,000. Based on IBM Global Financing’s simple Rapid Online Financing tool, the app enables people without financial expertise to generate fast approvals for credit applications.
The commitment of $4 billion in financing is intended to eliminate many of the cost barriers that businesses face in their move to strategic IBM technologies. Loan packages starts as low as 0% for 12 months with no money down, and can be used to acquire technology and services both from IBM and from IBM business partners.
Analytics and cloud computing are increasingly delivering powerful new capabilities to midsized businesses A recent global survey of 1,144 businesses by the University of Oxford and IBM found that 63% of respondents are gaining a competitive advantage by using analytics for their organizations. That's a 70% increase from the 37% who cited analytics as a competitive advantage in a similar 2010 IBM study. Public IT cloud services spending will reach almost $100 billion in 2016, according to International Data Corp.
This initiative builds on the $1 billion in financing that IBM Global Financing made available through IBM Business Partners for small and midsize businesses in 2011, which resulted in 6,800 global companies using financing in just 12 months.
Bishop Company, a 15-employee distributor of tools and equipment for landscapers based in Whittier, Calif. with authorized retailers across the country, used cloud services to create a stronger online presence to deliver a shopping experience to meet the needs of a younger generation of sophisticated consumers. Working with IBM business partner Zobrist Consulting, Bishop was able to secure IBM Global Financing within minutes and create a retail site that has become the driving force in its growth. The Bishop Company website is now a go-to destination for an extensive line of professional arborist and landscaper products. Online sales are up 200%.
This financing will be made available through IBM business partners including managed service providers, resellers, ISVs, systems integrators and distributors from more than 50 countries. In addition, IBM Global Financing can help credit-qualified business partners run and expand their businesses by providing working capital for IT purchases and financing for accounts receivables.