IBM's global financing unit has struck a partnership with Brazilian enterprise resource planning (ERP) vendor Totvs to facilitate software purchasing by local companies feeling the impact of the recession.
Under the partnership, existing Totvs clients as well as new customers can finance the total cost of acquisition of IT products from the Brazilian software firm in 48 installments or lease them at monthly interest rates starting from 0.71 percent.
The credit application is done through an app developed by IBM, which simulates the repayment amounts and also delivers the decision. Companies are also able to start paying for their purchases in 90 days, so the first payment would only be due in 2016.
Earlier this year, Totvs partnered with Amazon Web Services (AWS) to provide access to its systems via the cloud, in a move that aims to reduce customer infrastructure costs.
Totvs is a popular choice when it comes to ERP within the small and medium enterprise segmentin Brazil. But the company wants to aim for larger Brazilian enterprises - a space still very much dominated by SAP - and also focus on international markets.