The News: HPE CEO Antonio Neri published an update on the company’s website outlining its plans to continue supporting its customers in the wake of COVID-19.
- HPE will convert HPE Discover 2020 from an in-person event to a virtual event
- HPE Financial Services is designating more than $2 billion in financing to help customers with financial challenges stemming from COVID-19
- HPE team members are volunteering to provide virtual support to students, governments, first responders, and mental health services
Read the full news release here.
Analyst Take: HPE has continued to be impressive in its resolve to offer support to customers and the greater cause we are all fighting with the COVID-19 pandemic. Just a few weeks back, the company made several big announcements including a donation of $50 Million in wireless networking equipment to help setup secure connectivity for field medical facilities. This week, CEO Antonio Neri came out and provided a cohesive strategy of the company’s next moves to help business regain its footing as discussions begin to open up about returning to work. Neri also made a call on the company’s largest annual event, Discover, which was one of the last to be converted to a digital event.
Let’s break down the announcements.
HPE Financial Services Provides $2 Billion in Financing Support for Customers due to Covid-19 Crisis
Antonio Neri made a few important announcements, but I weigh this one as the most significant. We know many businesses have been disrupted from this crisis and it has cost revenue and has created cracks in many business foundations. However, digital transformation will rise as one of the most important investments that companies can make to better prepare for future business disruptions–It will also remain an important competitive advantage. This means companies will need to accelerate investments in technology and services to enable more rapid migration to the cloud and investment in critical and expansive infrastructure. HPE has developed plans to enable a buy now and pay later approach where companies can get aggressive with their tech overhaul but get their business back in shape before taking on the cost. This is certainly not entirely selfless, but its a great blend of meeting the customer where they are.
HPE Team Members Volunteer Throughout the Community
I love hearing these kinds of stories, especially when the company provides encouragement for its employees to reach beyond their traditional comfort levels. We are in a scary time where people are experiencing something that virtually no one on earth has been through. It is one thing for a company to donate when it has the resources, but for people to go out in the community and support first responders, teachers and other needs in their community is a good reflection of people rising up to the occasion.
HPE Discover 2020 Goes Virtual
Not much more to say about this. No way that a massive June event in Las Vegas was going to happen. The company was deliberate in this decision process, but I believe the right choice was made. Given the significant window that the company has to prepare for its digital Discover event, I expect it to be well orchestrated and worth attending.
Overall Impressions of the Announcements by HPE
HPE has continued to demonstrate its leadership in the tech community throughout the COVID-19 crisis. This isn’t a reflection of an opportunistic moment, but an altruistic set of values that CEO Antonio Neri has been focused on instilling within his workforce. This is evident in all of these strategies and even the amount of sensitivity being shown to how HPE will redeploy its workforce worldwide as things begin to stabilize. I believe the moves being made right now are going to strengthen the company’s short to mid-term prospects while also deepening customer relationships that will be paramount to its long-term success.
Futurum Research provides industry research and analysis. These columns are for educational purposes only and should not be considered in any way investment advice.