|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
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, provided tips on how to be successful in large scale machine learning...
Sep. 30, 2016 02:45 AM EDT Reads: 2,422
In his session at @ThingsExpo, Kausik Sridharabalan, founder and CTO of Pulzze Systems, Inc., will focus on key challenges in building an Internet of Things solution infrastructure. He will shed light on efficient ways of defining interactions within IoT solutions, leading to cost and time reduction. He will also introduce ways to handle data and how one can develop IoT solutions that are lean, flexible and configurable, thus making IoT infrastructure agile and scalable.
Sep. 30, 2016 02:15 AM EDT Reads: 1,635
SYS-CON Events announced today that Numerex Corp, a leading provider of managed enterprise solutions enabling the Internet of Things (IoT), will exhibit at the 19th International Cloud Expo | @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company's solutions produce new revenue streams or create operating...
Sep. 30, 2016 02:00 AM EDT Reads: 2,077
DevOps and microservices are permeating software engineering teams broadly, whether these teams are in pure software shops but happen to run a business, such Uber and Airbnb, or in companies that rely heavily on software to run more traditional business, such as financial firms or high-end manufacturers. Microservices and DevOps have created software development and therefore business speed and agility benefits, but they have also created problems; specifically, they have created software sec...
Sep. 30, 2016 02:00 AM EDT Reads: 1,377
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
Sep. 30, 2016 01:45 AM EDT Reads: 2,185
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Tintri VM-aware storage is the simplest for virtualized applications and cloud. Organizations including GE, Toyota, United Healthcare, NASA and 6 of the Fortune 15 have said “No to LUNs.” With Tintri they mana...
Sep. 30, 2016 01:15 AM EDT Reads: 2,961
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.
Sep. 30, 2016 12:45 AM EDT Reads: 2,975
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Sep. 30, 2016 12:00 AM EDT Reads: 2,378
IoT is fundamentally transforming the auto industry, turning the vehicle into a hub for connected services, including safety, infotainment and usage-based insurance. Auto manufacturers – and businesses across all verticals – have built an entire ecosystem around the Connected Car, creating new customer touch points and revenue streams. In his session at @ThingsExpo, Macario Namie, Head of IoT Strategy at Cisco Jasper, will share real-world examples of how IoT transforms the car from a static p...
Sep. 30, 2016 12:00 AM EDT Reads: 1,677
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Sep. 29, 2016 11:30 PM EDT Reads: 1,213
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Sep. 29, 2016 10:30 PM EDT Reads: 4,058
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...
Sep. 29, 2016 10:15 PM EDT Reads: 2,801
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, will discuss the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports. The session will include a working demo and a technical d...
Sep. 29, 2016 10:00 PM EDT Reads: 1,814
Kubernetes is a new and revolutionary open-sourced system for managing containers across multiple hosts in a cluster. Ansible is a simple IT automation tool for just about any requirement for reproducible environments. In his session at @DevOpsSummit at 18th Cloud Expo, Patrick Galbraith, a principal engineer at HPE, discussed how to build a fully functional Kubernetes cluster on a number of virtual machines or bare-metal hosts. Also included will be a brief demonstration of running a Galera M...
Sep. 29, 2016 09:45 PM EDT Reads: 3,143
Developing software for the Internet of Things (IoT) comes with its own set of challenges. Security, privacy, and unified standards are a few key issues. In addition, each IoT product is comprised of (at least) three separate application components: the software embedded in the device, the back-end service, and the mobile application for the end user’s controls. Each component is developed by a different team, using different technologies and practices, and deployed to a different stack/target –...
Sep. 29, 2016 08:45 PM EDT Reads: 1,555