HP gets Smart with rental financing

HP gets Smart with rental financing

HP resellers will be able to offer financing to small and medium business customers through a financing deal between Hewlett-Packard Australia Finance and financial services provider, Rentsmart.

Dubbed EasyRent, the facility allows small and medium business (SMB) customers to rent HP products valued between $500 and $20,000. The service can be accessed through an HP reseller, over the phone or Online in as little three minutes.

It is the first time the company has offered such a deal to the SMB sector. The scheme is being trialed in Australia and if successful, it is likely to be taken overseas.

"It is the first time we has done this anywhere in the world so within HP everyone is watching this," explained Australiasian manager for Hewlett-Packard Finance, Stephen Finch. "Australia is a good market to get a program like this up and running and it is easy to translate to other countries."

HP joins a growing number of companies in the industry offering finance to the small and medium sector through Rentsmart. Last year, Harris Technology and Telstra both announced deals with the Perth-based finance company aimed at the small and medium business sector.

The program is designed to boost sales in a number of ways, Finch said.

"The biggest problem for small business is cashflow. When computer equipment is financed, businesses not only tend to buy equipment, they tend to buy more than they otherwise would," Finch said. "Anecdotal evidence suggests businesses tend to buy more under a leasing solution."

The small and medium business market is a major segment for HP and the vendor relies heavily on the sales from its channel partners.

"Around 99.5 per cent of all businesses in Austalia have less than 200 employees so it is a critical market for us," Finch said.

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