HP launches global financing and leasing arm

Vendor says the new division will help partners looking to shift to recurring revenue models

HP Inc has launched a new financing and leasing division which it claims will help the channel cater for as-a-service and consumption model demands from customers.

The vendor said that HP Integrated Financial Solutions will support partners looking to move their own business towards recurring revenue by offering flexible payment solutions to end users.

Deb Baker, HP's head of worldwide leasing and financing, said during a press briefing: "Statistically, when leasing and financing are involved in a solution the average revenue is higher, discount rates are lower, and margins are higher.

"Backed by our financing partners, HP Integrated Financial Solutions will deliver market-leading offerings and be a key enabler for our customers and partners to acquire the latest HP solutions.

"In addition to traditional leasing and financing, we will identify innovative financial solutions designed to meet our customers' specific business objectives. That could be a variable payment structure aligned to revenue, or customised terms."

Baker joined HP last August, according to her LinkedIn profile, having previously spent six years at Cisco Capital.

The financing boss said that HP will work with two financial services firms globally, as well as a range of regional players.

"We'll leverage tools like instant decisions and pricing, and automation," she added.

"These tools will let channel partners provide quotes for deals anywhere and anytime, and provide best-in-class customer and partner experience.

"To drive this HP has established a new global function for leasing and financing. It is a pivotal journey as we continue to shift from Transactional business."