|By PR Newswire||
|December 12, 2012 04:01 AM EST||
WASHINGTON, Dec. 12, 2012 /PRNewswire/ -- Ecologic Leasing Services announced today that the company has completed its first equipment financing transaction in the Republic of Zambia in Southern Africa.
Doug Slais, Ecologic's Vice President of Capital Sourcing, said, "Ox Drilling Limited in Ndola needed a new drill rig for their expanding business for approximately US $500,000. Ox also wanted to use financing as a tool to align their monthly revenues from their drilling projects to their monthly expenses for the rig and improve cash flow. Our capital sourcing team here at Ecologic worked with the manufacturer's local sales team to listen to Ox Drilling's requirements, evaluate their credit, and structure a transaction that met their needs."
Slais continued, "We then tapped Alios Finance in Lusaka, a member of The Global Lessor Network, to finance the transaction. James Muwowo and Ali Saib Diallo of Alios listened to the opportunity and immediately immersed themselves in the transaction. We expect to do a lot more leasing and financing transactions in Zambia, which is a leader in economic growth among the members of the Common Market for Eastern and Southern Africa (COMESA). We also expect to do a lot more with Alios. They were a great partner and easy to work with."
According to World Bank lead economist Praveen Kumar, speaking yesterday in Lukasa, Zambia's capital, "Zambia's economy is expected to grow by 7.3 percent this year, slightly higher than the 6.8 percent growth rate of 2011. The economy has seen robust growth during 2012 in construction, transport and communication services, manufacturing, and agriculture," he said.
Michael Keeler, Ecologic's CEO said, "Ecologic Leasing Service provides equipment financing outsourcing services to global companies – both international lessees and manufacturers. We source capital for our clients through The Global Lessor Network (GLN), a community of more than 500 lessors from around the world who are ready to provide local leasing expertise and transact with lessees that fit their credit appetite, equipment interests, and geographic footprint. That's how we engaged Alios for this deal."
Keeler continued, "While we run a variety of leasing programs for global manufacturers, over the last few years we have seen considerable growth from manufacturers who already have a mature vendor program that they run themselves or in partnership with an international lessor, such as DLL, CIT, GE Capital, Macquarie, or Societe Generale. Because the footprint of these lessors is typically limited to western industrialized and commonwealth countries, manufacturers engage Ecologic and the GLN to help them finance transactions everywhere else that they sell. Most manufacturers sell in well over 100 countries, while most of these lessors operations are limited to just 20-30 countries.
"Because we use local capital and expertise, we are not limited to bricks and mortar like banks. We can help our clients create incremental sales through financing in any country where they sell equipment and capital is available. So, many of our manufacturer financing programs and transactions are in emerging markets, especially Africa, Latin America, South and South-east Asia, and the Middle-East."
Keeler explained how the GLN works: "New lessors register at www.lessornetwork.com for free by completing a profile about their company and the type of transactions they want to see. Our Capital Sourcing team will then interview the lessor and review their profile. When the Capital Sourcing team accepts the lessor's profile, it becomes immediately available in Lease Accelerator, our web-based software service, which is used by our clients around the world to manage their leasing process, and perform GAAP-FASB lease accounting, including Cisco, Cummins, Eaton, Allegheny Technologies and NetApp – even not-for-profit hospital systems, such as Ascension Health use Lease Accelerator."
About Ecologic Leasing Services:
Ecologic Leasing Services develops, sells, and supports Lease Accelerator, a suite of software and outsourcing services for global equipment manufacturers and lessees, delivered as a service (SaaS). Lease Accelerator software service is available today over the web at www.leaseaccelerator.com. It includes access to The Global Lessor Network (GLN), standardized contracts, expert support, and outsourcing services.
Using the GLN, global companies with a need for in-country leasing expertise and financing can identify and transact with local lessors. Since 2001, Lease Accelerator and the GLN have supported transactions in 45 countries, spanning a wide variety of asset types, including corporate aircraft, construction, forklifts, furniture, IT, mining, networking, and transportation equipment. Lessors are encouraged to register for the GLN at www.lessornetwork.com. Registration is free of charge.
LOGO 300dpi: Send2Press.com/mediaboom/12-1212-globlessr_300dpi.jpg
This release was issued on behalf of the above organization by Send2Press(R), a unit of Neotrope(R). http://www.Send2Press.com
SOURCE Ecologic Leasing Services
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Jun. 26, 2016 01:00 PM EDT Reads: 692
The initial debate is over: Any enterprise with a serious commitment to IT is migrating to the cloud. But things are not so simple. There is a complex mix of on-premises, colocated, and public-cloud deployments. In this power panel at 18th Cloud Expo, moderated by Conference Chair Roger Strukhoff, Randy De Meno, Chief Technologist - Windows Products and Microsoft Partnerships at Commvault; Dave Landa, Chief Operating Officer at kintone; William Morrish, General Manager Product Sales at Interou...
Jun. 26, 2016 12:45 PM EDT Reads: 741
"A lot of times people will come to us and have a very diverse set of requirements or very customized need and we'll help them to implement it in a fashion that you can't just buy off of the shelf," explained Nick Rose, CTO of Enzu, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jun. 26, 2016 12:30 PM EDT Reads: 1,000
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change t...
Jun. 26, 2016 12:30 PM EDT Reads: 1,089
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Jun. 26, 2016 12:00 PM EDT Reads: 1,256
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
Jun. 26, 2016 12:00 PM EDT Reads: 1,314
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Jun. 26, 2016 12:00 PM EDT Reads: 1,040
More and more companies are looking to microservices as an architectural pattern for breaking apart applications into more manageable pieces so that agile teams can deliver new features quicker and more effectively. What this pattern has done more than anything to date is spark organizational transformations, setting the foundation for future application development. In practice, however, there are a number of considerations to make that go beyond simply “build, ship, and run,” which changes ho...
Jun. 26, 2016 12:00 PM EDT Reads: 855
The pace of innovation, vendor lock-in, production sustainability, cost-effectiveness, and managing risk… In his session at 18th Cloud Expo, Dan Choquette, Founder of RackN, discussed how CIOs are challenged finding the balance of finding the right tools, technology and operational model that serves the business the best. He also discussed how clouds, open source software and infrastructure solutions have benefits but also drawbacks and how workload and operational portability between vendors ...
Jun. 26, 2016 11:00 AM EDT Reads: 773
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Jun. 26, 2016 11:00 AM EDT Reads: 1,023
Your business relies on your applications and your employees to stay in business. Whether you develop apps or manage business critical apps that help fuel your business, what happens when users experience sluggish performance? You and all technical teams across the organization – application, network, operations, among others, as well as, those outside the organization, like ISPs and third-party providers – are called in to solve the problem.
Jun. 26, 2016 10:00 AM EDT Reads: 609
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
Jun. 26, 2016 09:45 AM EDT Reads: 543
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
Jun. 26, 2016 08:45 AM EDT Reads: 696
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection. In his session at 18th Cloud Expo, Bradley Holt, a Developer Advocate with IBM Cloud Data Services, discussed...
Jun. 26, 2016 08:45 AM EDT Reads: 755
Digital Initiatives create new ways of conducting business, which drive the need for increasingly advanced security and regulatory compliance challenges with exponentially more damaging consequences. In the BMC and Forbes Insights Survey in 2016, 97% of executives said they expect a rise in data breach attempts in the next 12 months. Sixty percent said operations and security teams have only a general understanding of each other’s requirements, resulting in a “SecOps gap” leaving organizations u...
Jun. 26, 2016 08:15 AM EDT Reads: 985
SaaS companies can greatly expand revenue potential by pushing beyond their own borders. The challenge is how to do this without degrading service quality. In his session at 18th Cloud Expo, Adam Rogers, Managing Director at Anexia, discussed how IaaS providers with a global presence and both virtual and dedicated infrastructure can help companies expand their service footprint with low “go-to-market” costs.
Jun. 26, 2016 01:00 AM EDT Reads: 792
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
Jun. 25, 2016 03:00 PM EDT Reads: 1,555
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Jun. 25, 2016 01:45 PM EDT Reads: 892
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Jun. 25, 2016 01:15 PM EDT Reads: 1,233
What does it look like when you have access to cloud infrastructure and platform under the same roof? Let’s talk about the different layers of Technology as a Service: who cares, what runs where, and how does it all fit together. In his session at 18th Cloud Expo, Phil Jackson, Lead Technology Evangelist at SoftLayer, an IBM company, spoke about the picture being painted by IBM Cloud and how the tools being crafted can help fill the gaps in your IT infrastructure.
Jun. 25, 2016 12:00 PM EDT Reads: 586