HP Financial Services: Helping Customers Succeed - Paul Patterson

The CFO wants IT to find ways to be more efficient so that even with less money a company can still deliver the strategy, Paul Patterson of HP Financial Services tells FDE.

'An uncertain economy is shrinking budgets and technology leaders are faced with hard decisions. Where do you cut? Where do you spend? How do you get the most from what you have? The choices customers make today will help determine whether your enterprise emerges from this downturn lean and competitive or emaciated and weak – a winner or a loser.

Customers are looking for vendors that can understand their business and help solve problems by offering solutions.

'We have on-going relationships based on understanding what our clients want to achieve and what we can do to help them. It is about building a total solution that also lowers the total cost of ownership,' says Paul Patterson, EMEA sales director for HP Financial Services, the leasing and asset management services arm of Hewlett Packard.

To lower the total cost of ownership, customers must examine the mix of their IT portfolio. There is no longer a need to own all IT assets. Today, most customers have a mix of owned, leased and outsourced IT assets.

Leasing affords customers the opportunity to expand or renew their IT infrastructure, independent of budget cycles, quite helpful in times when IT budgets are tight.

'We help customers get more for their IT dollars. By leasing, they pay for their use of IT equipment as opposed to paying for the actual equipment up-front. Our engagement with customers is broad and includes the acquisition of the technology all the way to secure disposal at the end of its useful life, including securely overwriting the data it contains,' says Patterson.

As a result, HP Financial Services focuses on understanding what the CFO and CIO are aiming for and grasping their implementation strategy over any given period. Now that cashflow has become a core consideration, such discussions need to be granular. Stemming from this, says Patterson, his people will offer a complete finance and IT package, tailored precisely to clients' demands.

Changing demands

The sheer pace of IT advances plays to the strengths of HP Financial Services, particularly with the arrival of low-powered chips and the rapid increase in the utilities concept, such as data storage.

With these developments come key opportunities for a business to reduce power costs radically and slash their carbon footprint. Large multinationals with strong credit lines have been able to take early advantage of these developments. However, HP Financial Services also reaches corporates and channel partners with its comprehensive array of leasing and financing packages. These help clients boost free cashflow and their environmental profile much quicker.

Recent developments have included utility solutions and a performance optimised data centre. These products address the challenges clients often face when connecting business outcomes to IT use or short-term needs for IT 'power' for projects, R&D, and high-powered data processing. In the desktop, printer or server estates clients recognise the risk of stretching existing equipment use for another six to 12 months. This stretching sometimes hides extra costs including maintenance, power and an increased chance of faults and wear.

Technology and finance

Patterson sees a strong continuing need for HP Financial Services' broad array of offerings.

'Organisations should challenge themselves on whether they really want to be in the IT asset management business. Should they own their IT when they often don't own their buildings or cars? Do they have the skills to recycle or re-market obsolete IT equipment? Why should they continue to maintain all their IT within their balance sheets?'

Another considerable advantage with HP Financial Services, says Patterson, is the company’s close working relationship with its corporate parent.

'We have built a network of world-class partners, which gives us the ability to serve customers locally on a global basis.'

While developing a total IT solution, HP Financial Services will also finance more than just HP products.

'Some clients want third-party products to complete an IT solution,' says Patterson. 'We are there to support our clients and if that means third-party products, hardware or software then we seek an answer. It is important that our clients know that we are there for the whole solution, now and for the long term. The first objective for HP Financial Services is understanding the customers' needs and, secondly, doing everything we can to help them get there.'