Dell Expands Direct Financing Capabilities in Europe
- Acquisition provides Dell full ownership of customer lifecycle
- Expands Dell direct financing opportunities for customers in Europe
- Dell awarded full banking license by Central Bank of Ireland
Dell’s mid-market and corporate customers in the U.K., Ireland, Germany, Austria, Switzerland, Belgium, the Netherlands and Luxembourg can now access direct financing for leases and loans to support their IT Solutions and long-term growth through Dell Financial Services (DFS). The expansion of DFS into Europe is a major milestone for Dell and further enhances the range of end-to-end scalable solutions and services that the company offers customers.
Following the successful award of a full bank license by the Central Bank of Ireland at the end of June, and the acquisition of a portion of CIT Vendor Finance’s Dell-related assets, sales and servicing functions in Europe, Dell is now able to provide direct financing programmes to customers in parts of Europe. DFS provides a real alternative to bank financing in Europe where access to capital remains a key obstacle for many businesses.
Customers now have access to Dell financial support for all their IT solutions. They will be able to benefit from the scale of Dell’s U.S. and Canadian operations, where customers already enjoy direct financing opportunities, including the global consistency of Dell’s financing terms and conditions. Through DFS, Dell will also be able to provide much needed capital to small- and medium-sized businesses looking to invest in new technology to give them a competitive edge and grow their companies.
Dell Financial Services will enable customers to:
- Prevent technology obsolescence: DFS lease solutions enable customers to regularly rotate their assets so that they can have the latest technology at all times
- Increase operational efficiency: Dell provides upgrade options and will dispose of old equipment so customers can focus on their business, not IT demands
- Conserve capital, preserve credit line: By providing financing Dell allows customers to focus more on investing in their business, not on the infrastructure to run it
- Manage cash flow: Payments can be structured to budget or cash flow requirements
- Lower total cost of ownership (TCO): Leasing facilitates a three year technology rotation which reduces TCO by minimizing support costs
- Access total solution financing: Dell will finance entire solutions for the same company; this includes, for example, the software and services that a Channel Partner includes in their proposal
“With the introduction of direct Dell Financial Services into Europe we can now offer customers the finance needed to support their IT solutions so that they can focus more on investing in their business rather than worrying about the infrastructure to run it,” said Cormac Costelloe, General Manager, Dell Financial Services EMEA. “We believe that it is not enough to just provide technology solutions that enable businesses to grow, we also have to provide access to the finance needed, particularly in the current economic climate. Dell Financial Services is just one more way in which Dell is supporting and contributing to the success of our customers.”
“Dell Financial Services understands customers’ technology needs and delivers customized payment solutions to better manage cash flow. Because DFS financing experts are integrated into the Dell sales process financing Dell solutions will be a natural offer to make to customers, whether they buy direct, or through Dell’s Channel Partners. Dell will expand Dell Financial Services into more European countries in the coming months,” added Costelloe.
Dell Inc. (NASDAQ: DELL) listens to customers and delivers innovative technology and services that give them the power to do more. For more information, visit http://www.dell.co.uk/.
About Dell Financial Services
Since 1997, Dell Financial Services has been delivering financing solutions that enable and enrich the Dell customer experience. As Dell’s dedicated financing arm, Dell Financial Services facilitates customer financing of products, solutions and services and annually funds $4billion of Dell and non-Dell IT equipment for Dell customers globally. We provide direct financing in the U.S., Canada and now in Europe as the captive finance company of Dell Bank International Limited. We also have international capabilities with a network of strategic lessors in more than 50 countries globally. In Europe, Dell Financial Services is based in Dublin, Ireland and currently offers finance on Dell products directly to customers in eight countries.
CIT Vendor Finance is a global leader in vendor finance and leasing. Operating as Dell Financial Services, CIT Vendor Finance has provided vendor finance services to Dell customers for over 10 years. CIT Vendor Finances’ global reach has allowed Dell Financial Services to directly integrate its services with the needs and demands of Dell customers around the world. CIT Vendor Finance will continue to provide financing programs with Dell in select countries, including agreements in Latin America.
- Amanda Metti
- Bracknell, United Kingdom
- +44 0 208 392 4068