TechnologyAccounting SoftwareNew software: Buy now pay later

New software: Buy now pay later

Analysts have warned against buying new technology just because the vendor is offering attractive rates of financing

The advice comes as major vendors such as IBM and Hewlett Packard announce lower rates of financing on hardware and software. Ranjit Atwal, industry analyst at Gartner, explained that users are looking at other ways of financing IT projects because of the pressure on budgets. But he recommended they focus on whether they really need the technology.

‘Just because it is available and (the vendor) helps pay, it sounds good. But users must make sure the solution fits their needs,’ he said.

Keith Brewer, European marketing manager for IBM Global Financing, suggested that vendors are responding to users’ needs in a difficult economic climate.

‘The demand for flexible financing is greater than this time last year,’ he said. ‘Many customers need to start their projects now to remain competitive. This is a way of getting a customer to install now but defer payment until the benefits come on stream.’

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