Research Library

HPEFS COVID-19 Financing – Industry Snapshot

Published April 21st, 2020. In this free Industry Snapshot, Sr. Analyst John Webster discusses HPEFS financial initiatives to help IT with COVID-19 challenges. Read and download the free report now!

HPE Financial Services (HPEFS) Announces Special COVID-19 Financing Program

New Financial Initiatives

HPEFS has announced a set of new financial initiatives aimed at assisting enterprise IT with the challenges they now face as a result of the COVID-19 crisis.

Recently completed Evaluator Group primary research shows that, while overall IT spending will be negatively impacted, there are certain areas where additional infrastructure resources will be required to support a stay-at-home workforce. These include:

  • VDI infrastructure
  • Networking
  • Data protection
  • Public cloud IaaS
  • Security

HPEFS responds to these requirements with this announcement.

Payment Relief Program

With this announcement, one of these new initiatives focuses on new IT infrastructure available on a deferred payment basis – the Payment Relief Program. Customers enter into a 36-month lease for the infrastructure they need from HPEFS—qualified for a one-year OEM warranty—and pay only 1% per month of the infrastructure value for the first 8 months of the contract. Afterwards, customers pay 3.3% of the balance for the remaining 28 months. This defers over 90% of new technology acquisition until 2021. Non-HPE gear is included in this offer.

Also included in the Special COVID-19 Financing Program are other provisions that address the following situations:

Purchase payment deferral – 90-day payment deferral on new HPE technology purchases. Included in this program are new purchases of qualified HPE hardware and selected software, software appliances, services and installation packages.

Purchase and lease-back to customer of existing IT assets – HPEFS will buy customer-owned IT assets and lease them back to the customer, generating cash for purchase or lease of new infrastructure.

Purchase of excess IT assets – HPEFS will buy back newer generation technology that is no longer needed.

Phased deployment program – This program allows customers to acquire technology infrastructure that includes compute, networking, storage and other technology infrastructure with the ability to configure, test and stand-up systems prior to deployment in a production environment. The deployment schedule can be extended out to 12 months from the time of placing an order.

Immediate delivery of used IT equipment from HPEFS inventory – including components, parts, subassemblies, feature upgrades and whole systems manufactured by HPE and other vendors. Inventory offered meets HPE OEM standards and includes a 30-day warranty.

Short-term rentals – of new HPE PCs and laptops for twelve months and preowned IT technology for periods of three to twelve months.

Evaluator Group Comments

Our Enterprise IT Responds to COVID-19 research study shows that, while some IT organizations were prepared to support a stay-at-home workforce, many others are now pressed to supply laptops, acquire new VDI licenses, upgrade networking capacity, double down on security measures and increase the robustness of their data protection capabilities. We also saw that IT spending within a majority of them was being put on hold. All of the programs announced under the HPEFS COVID-19 Financing Program could benefit these IT administrative groups in multiple ways. First, they can convert existing assets to cash, putting money into expanding support for a mobile workforce. Second, the used equipment inventory made available gives them immediate access to the infrastructure needed to scale-up this support at a discounted cost.

Available with Subscription or Purchase. Contact us below.

Forgot your password? Reset it here.