Expanding Payment Options for Customers
June 16, 2009
Today, Infor launched a new financing program for all of our customers. To help introduce this program, we sat down with our own Kevin Samuelson, senior vice president, mergers & acquisitions and integration, to get his take on Infor Financing and how it will create new value for customers.
Editor: Why offer financing now?
Kevin Samuelson: At the risk of oversimplifying my answer…because our customers have asked us for it. Given the importance of preserving cash in the current environment, there is considerable advantage for customers in rolling-out new technology initiatives and business strategies in a way that lets them fund these programs over time. Many companies are using the downturn to put programs into place that will enable them to emerge as stronger, more competitive organizations—and our software is a large part of that.
Editor: When does it make sense for a company to consider financing?
KS: Customers should consider finance options for each purchase. Everyone’s feeling the effects of budget constraints and more aggressive cash management. With financing, customers preserve cash for other investments, while avoiding large up-front payments for the software they need today. Financing helps our customers turn capital expenses into operational expenses—a key factor in managing cash flow.
Editor: How can customers benefit from financing?
KS: Through Infor Financing, customers can immediately move forward with business initiatives that will improve their bottom line—without depleting their cash reserves or impacting working capital.
Editor: What types of payment options and other packages will be offered?
KS: Our standard payment programs are for 24 and 36 months; however, we also have the flexibility to offer extended payment terms for large transactions.
Editor: How long will Infor offer 0% financing?
KS: The zero percent financing program, which lets customers lock-in interest-free monthly payments for a period of 24 months, will be available until September 2009. As we get closer to that date we may consider extending the 0% program.
Editor: Is there a minimum deal size, or other “fine print?”
KS: Infor Financing is available for all customers (direct sales or through our worldwide network of channel partners) who have made at least a $15,000 purchase. Customers can finance software license costs, professional services, and maintenance/support fees. I encourage everyone interested in Infor Financing to visit the Infor Financing website.
Editor: Everyone has heard horror stories of the difficulties in securing loans recently. How difficult is it to qualify for financing?
KS: Infor has a wide range of financing programs for all companies and our goal is to make the financing process as simple as possible. Even if a customer does not qualify for traditional financing or zero percent financing, we can still work with them to establish an appropriate financing plan.
Editor: Are you offering software leasing as well?
KS: No. With our financing program, customers take ownership of their software licenses when they sign the agreements.
Editor: Where is the program offered?
KS: We are starting the financing program in North America and expect to gradually extend the program worldwide over the next year.
Posted by Lauren Banks, Infor Blog