November 23, 1998 08:02 AM
ROUND ROCK, Texas--(BUSINESS WIRE)--Nov. 23 1998--Dell Financial Services L.P. (DFS), Dell Computer Corporation's DELL integrated leasing provider, today reported that lease originations recently passed the $1 billion mark.
In little more than a year, Dell Financial Services has achieved industry-leading growth and established significant lease financing originations in the customer segments Dell serves, including corporate, enterprise, small business, consumer and public markets in North America.
DFS has more than 81,000 lease agreements and 400,000 Information Technology assets in its portfolio. Already, more than 50 percent of Dell's top 20 corporate customers have leased through DFS.
"The success of DFS further confirms our ability to extend the benefits of the direct model to meet additional customer needs in all segments," said Michael Dell, chairman and CEO of Dell Computer Corporation. "Our customers are quick to recognize that leasing helps provide a very efficient migration path."
DFS is a joint venture between Newcourt Credit Group Inc. NCT , one of the world's leading sources of asset-based financing, and Dell DELL , the world's leading direct computer systems company.
DFS provides an array of services in North America ranging from simple hardware leases to complex technology finance agreements that may include software, extra support, installation, and asset recovery services. Businesses and public sector organizations increasingly are turning to leasing and related services to assist in managing technology change.
"The desktop has evolved into a mission-critical computing platform; however, providing an efficient, cost-effective process for equipment acquisition, management, and retirement continues to elude many organizations," said Joe Pucciarelli, an analyst with Gartner Group Inc. "Enterprises that tightly integrate equipment lifecycle and leasing strategies can both improve capabilities and also significantly reduce cost."
With DFS leases, Dell customers can enjoy the flexibility of a low monthly payment to preserve capital while systematically helping to refresh their technology base. Additionally, DFS' integration with Dell makes it possible for customers to use their own customized Dell Premier Pages(SM) service to help manage their leasing programs via the Internet.
Personalized Premier Pages Web sites connect Dell's business and public-sector customers directly to Dell, providing a single point of contact for their personal computer systems and financing requirements. Customers who lease through DFS have the ability to use these pages to obtain lease quotes, place lease orders and track leased assets throughout their lifecycles.
"The success of DFS' customer-direct financing programs is due in great measure to our ability to deliver solutions by way of Dell's direct relationships with its customers," says Steve Schofield, Dell Financial Services president and CEO.
For more information on DFS, visit www.dell.com/dfs/. Customers who shop at the Dell online store at www.dell.com or call 800/BUY-DELL can receive a lease price as well as a purchase price on any Dell computer system.
Ranked No. 125 among the Fortune 500 companies and No. 363 in the Fortune Global 500, Dell Computer Corporation is the world's leading direct computer systems company, based on revenues of $16.8 billion for the past four quarters. Dell designs, manufactures and customizes products and services to customer requirements and offers an extensive selection of software and peripherals. Information on Dell and its products can be obtained through its toll-free number 800/388-8542 or by accessing the Dell World Wide Web site at www.dell.com.
Newcourt Credit Group is one of the world's leading sources of asset-based financing, serving the corporate and commercial markets with owned and managed assets of US $23.1 billion and a global capability in 24 countries. Dell is a registered trademark of Dell Computer Corporation. Premier Pages is a registered service mark of Dell Computer Corporation.
Fortune 500 is a registered trademark of Time Inc.
Dell disclaims any proprietary interest in the marks and names of others.
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