IBM Announces Financing for the On-Demand Era; New Flexible Offering Helps Customers Acquire IT Now, When They Need It.Business/High Tech Editors ARMONK, N.Y.--(BUSINESS WIRE)--Dec. 3, 2002 IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) today announced a new financing product designed to meet the on-demand needs of today's e-business hosting customers. IBM Total Usage Financing was created to complement the corporation's e-business on demand initiative and to help customers redefine Verb 1. redefine - give a new or different definition to; "She redefined his duties" define, delimit, delimitate, delineate, specify - determine the essential quality of 2. how they acquire and manage on-demand information technology (IT) offerings and integrate them into their e-business infrastructure. Total Usage Financing is a financing solution designed to adjust to customers' needs for computing computing - computer power in real time. A new combination of financing knowledge, experience and processes from IBM Global Financing, the world's leading IT financier, the Financier, The riches as raison d’être. [Am. Lit.: The Financier, Magill I, 280–282] See : Greed on-demand financing offering is a total solution offering. IBM Total Usage Financing combines financing for fixed upfront IT costs -- to spread them out over a project's term -- with a revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. line to support and smooth out real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. ongoing variable service charges. The offering is designed to support the needs of an on-demand business to adjust itself in real time and in a highly variable fashion to unplanned peak usage. IBM Total Usage Financing will be available initially only to IBM to e-business hosting customers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . "IBM plays a key role in defining how customers pay for their computing," said William C. Doscas, vice president, Marketing and Sales, IBM Global Financing. "Total Usage Financing goes a major step further, by helping companies adjust their IT support in real time, more affordably. Customers now can have the maximum flexibility to use only as much additional financing as they need -- and only when they need it on demand -- to fully support the IT infrastructure of their e-business." In addition, the new financing product may help IBM customers lower monthly costs and better manage fixed budgets in a variable real-time environment. While helping customers cover potential peak demand, the IBM offering also was designed to better match costs to benefits, potentially helping customers to gain more immediate payback Payback The length of time it takes to recover the initial cost of a project, without regard to the time value of money. from IT projects. Additional details on IBM Total Usage Financing are available at www.ibm.com/financing. About IBM Global Financing As the largest information technology financier in the world, IBM Global Financing offers customers in more than 40 countries leasing and financing solutions for hardware, software and services acquired from IBM and other vendors. |
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