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Sysix Financial, LLC Announces $10 Million in Leases in First Year; New Suite of Financial Solutions on Horizon
Growing base of Sysix customers in manufacturing, education and financial services industries select leasing to finance tech solutions that reduce bottom line costs
Chicago, IL – September 24, 2002
Sysix Financial, LLC, the leasing and financial division of the Sysix Companies, a national provider of IT business solutions spanning infrastructure, consulting and financing, announced today that it has generated more than $10 million in lease originations to companies implementing technology solutions since the company launched its operations just over a year ago. Sysix Financial also announced plans to unveil a new suite of Web-enabled leasing solutions for asset tracking and management, online leasing applications and approval notification, and software-only leasing services. The new leasing products will be available beginning in early 2003. The announcements were made at the HP World Conference in Los Angeles.
"In the wake of September 11, businesses across all industries investigated disaster recovery programs. What many smaller and mid-sized firms learned over the past year, is that the high cost of an outsourced end-to-end replication of a company's complete data center is often too expensive for their budgets - so they have taken no steps at all. Unfortunately, this 'all-or-nothing' approach to disaster recovery leaves many organizations without a viable plan to protect their critical operations," said Woudenberg. "Yet, if back-to-basics approach is used, a cost-effective disaster recovery can be a reality for any size company."
Leasing options are a key component of Sysix "bundled" solutions offerings which combine infrastructure from leaders such as Hewlett-Packard, IBM, Sun, JANDX, EMC and others, with consulting services and support. Sysix leasing solutions are designed facilitate the rapid and cost effective implementation of business solutions and enable customers to reduce the total cost of ownership by minimizing upfront purchase costs, freeing-up working capital and optimizing tax benefits. In addition, Sysix leasing solutions can protect users from technology obsolescence by allowing users to add or upgrade equipment at anytime during the lease term.
A sampling of customers utilizing Sysix Financial's solutions includes: ABN AMRO Services Company, Moody Bible Institute, Ungaretti & Harris Law Firm, Washington State Community College, Dana Corp., Goodrich Corp., Tenneco Automotive as well as others.
According to Ned Covic, president of Sysix Financial, "In today's tough economic climate we see leasing as an area of growing need for our customers. We work with companies across all industries that must continually acquire and refresh technology to sustain their businesses, yet are often faced with budget limitations. The wide array of leasing options we bring to market offer our customers greater financial flexibility and a better return from technology investments."
Web-Enabled Products Planned for Sysix Financial Portfolio
In the coming year, Sysix Financial plans to introduce several new products and services including Web-enabled asset tracking and management and online lease application and approvals for general leases under $50,000. The company will also offer software-only financing solutions in addition to its current set of financing for hardware, implementation and support.
"In the asset management area, we are developing new financial products to address our customers' need to help manage their IT assets and maintain accountability within their organizations," adds Covic. "In the wake of many recent and well publicized accounting scandals, organizations are requiring a more critical eye on managing internal assets. Our new offerings will be a natural extension of our leasing expertise and will be designed to assist those customers seeking a qualified external partner to assist in the process of tracking infrastructure within the enterprise, for cost center bill backs, lease termination management, etc. The new asset management services will include Web-based reporting, tracking and databases, to bring maximum access and ease of use to our clients."
About Sysix:
The Sysix Companies: Sysix Technologies, LLC; Sysix Consulting, LLC; and Sysix Financial, LLC provide mission-critical business technology solutions including infrastructure, consulting and financial solutions. Headquartered outside of Chicago, Sysix also maintains a strong local presence in Milwaukee, Indianapolis, Los Angeles, New York, Phoenix and Minneapolis, with a new West Coast Sales Office in the Bay Area. For more information, visit the Sysix Web site: http://www.sysix.com/.
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