NEW YORK--(BUSINESS WIRE)--Technology
leasing has become increasingly popular for companies seeking to
enhance their competitive edge while also advancing their “green”
strategies, according to Ron
Arrington, President of
Vendor Finance for CIT
Group Inc. (NYSE: CIT), a leading provider of financing to small
businesses and middle market companies. These are just some of the
benefits of technology leasing that Arrington discusses in “Technology
Financing as a Strategic Tool,” the latest installment of
CIT’s award-winning “5
Minute Capital” (www.5minutecapital.com)
podcast series.
“The
Benefits of Leasing Technology In A Market Downturn”
In describing how technology leasing is helping companies go “green”
Arrington explains, “If you think about the amount of technology that
companies have in their data centers, they use tremendous amounts of
energy, which is a big cost for them. By leasing, rather than purchasing
new equipment, companies can increase their overall efficiency and make
their operations more environmentally friendly. Adding technology that
is more efficient and uses less energy will help reduce costs, and
benefit the company’s operating line, as well as the environment.”
Arrington also discusses how technology leasing is helping companies
contain costs, while still enjoying the enhanced efficiencies of the
latest IT systems and technologies. “For many companies, IT systems are
the backbone of their businesses, so regularly updating them with the
latest servers, network equipment and storage technologies is a critical
part of staying competitive. Technology leasing provides an affordable
way to do this and realize the benefits of more efficient equipment
while staying within their budgets,” adds Arrington.
EDITOR’S NOTE:
Individuals interested in listening to Mr. Arrington’s first podcast, “The
Changing Landscape of Vendor Financing,” can download it at “5
Minute Capital” (www.5minutecapital.com).
In addition, Mr. Arrington provides additional commentary on “The
Benefits of Leasing Technology In A Market Downturn,” in
a recent installment of CIT’s
“Executive Spotlight” series, which is available at: http://executive-spotlight.cit.com.
About CIT Vendor Finance
CIT Vendor Finance is a global leader in financing solutions that drive
incremental revenues for manufacturers, distributors and product
resellers. It provides customized financing solutions to customers in
more than 30 countries, supporting a wide variety of industries,
including office products, communications and technology.
About CIT
CIT (NYSE: CIT) is a bank holding company with more than $60 billion in
finance and leasing assets that provides financial products and advisory
services to small and middle market businesses. Operating in more than
50 countries across 30 industries, CIT provides an unparalleled
combination of relationship, intellectual, and financial capital to its
customers worldwide. CIT maintains leadership positions in small
business and middle market lending, factoring, retail finance,
aerospace, equipment and rail leasing, and vendor finance. Founded in
1908 and headquartered in New York City, CIT is a member of the Fortune
500. www.cit.com
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