IGF customers were informed in Feb that “some” current financial contracts will not be extended
Channel floor financing looks to have been sent to Lenovo financing
OEM financing looks to be discontinued after 6/30/2019
All current contracts will be honored, but IGF will slowly exit these markets as current loans come up for renewal
IGF reps will be encouraged to focus on Services financing and “direct” accounts financing needs
Does this pertain to end user leasing or business partner commercial financing?
It is always the same s--t with IBM and their mantra of high value business... as soon something they do is not having the right margins they exit the business. This company is incapable of fixing anything or compete in low margin environments. The result of that we keep on exiting businesses and the REV keep on shrinking. It will come one day we will exit the last business we are in and then you will know that IBM will be no more! Pathetic...
That is just another confirmation that IBM decided to focus only on the big most loyal customers and will jettison all the others.
All of my customers were notified last week and this week in writing. The business partners that are active in the accounts were also notified at that time. IBM considers my accounts midsized enterprise accounts The dropping of the OEM financing was a surprise to the IGF reps
Surprised IGF could not sell the commercial lending portfolio or maybe a portion was sold to Lenovo vs. letting the agreements simply expire. What type of customers were notified?