Skip to main content

AbsoluteSKY and IBM Link Up to Provide Financing Options for RFID Customers


Select a topic or year


MONTREAL - 18 Sep 2006: IBM Global Financing, the lending division of IBM (NYSE: IBM) and the world's largest IT financier, announced today that it has signed a deal with the Canadian subsidiary of AbsoluteSKY, Inc. (PINKSHEETS: ABSY), to provide financing options to end-users of AbsoluteSKY's proprietary intelliTRACKER™ inventory tracking product suite. The financing packages include hardware, software, services and maintenance.

AbsoluteSKY's intelliTRACKER™ product suite is an RFID-based hardware and software solution set that integrates multiple technologies to provide retailers with real-time, item-level inventory tracking through the supply chain. The intelliTRACKER™ suite delivers extensive features and benefits to specialty retailers, including the ability to increase inventory turns, virtually eliminate missed sales and gain extensive real-time control over loss prevention.

John Frabasile, President and CEO of AbsoluteSKY, remarked, "The signing of this agreement substantially builds our value-proposition for specialty retail clients. IBM has a pre-eminent presence and track record in financing retail customers on a global scale. Working closely with IBM, we can simplify and tailor the entire financing process while providing a range of attractive, affordable financing options. No question, it will also shorten the sales cycle dramatically."

"IBM looks forward to expanding its work with AbsoluteSKY to provide a broader set of flexible financing solutions to its customers," said Riccardo Forlenza, VP of vendor financing for IBM Global Financing. "By offering our expertise in financing total retail solutions -- hardware, software and services -- AbsoluteSKY can help retailers take advantage of RFID technology that grows business."

The agreement forms an important element of AbsoluteSKY's go-to-market business model, providing the retailer the ability to track costs on a "by store per month" basis. Retailers also receive a comprehensive ROI analysis, which calculates the benefits and savings by store per month for comparison to the store's per month leasing cost. The model demonstrates a rapid ROI, typically during the first quarter, post installation, chain wide.

Related XML feeds
Topics XML feeds
Global Financing
Hardware leasing, software and services financing, commercial financing, inventory, accounts receivable, term loans, acquisition financing