Compugen Inc.

Compugen Inc.

November 26, 2008 14:00 ET

IT Equipment Rental Program Gives Customers Cost-Effective Acquisition Option for Meeting Short-Term Computing Requirements

RICHMOND HILL, ONTARIO--(Marketwire - Nov. 26, 2008) - Compugen Finance Inc. (CFI), a wholly owned subsidiary of Compugen, Inc., one of the largest Canadian-owned IT solution providers and PC systems integrators, today announces the addition of a Canada-wide IT equipment rental program. The program rounds out the portfolio of equipment acquisition options available to Compugen customers, which also includes traditional purchase as well as leasing.

"Our customers are showing a real interest in renting as an effective way to deal with requirements such as short-term projects and staffing peaks, quarter-end and year-end workload peaks, training, conventions and events, and even as a way to delay capital purchases due to budgeting issues," explains Steve Glover, senior vice-president, Compugen Finance Inc.

The program, which offers daily, weekly, monthly or even longer rentals, covers virtually any type of IT equipment, including desktops, laptops, printers, copiers, scanners, servers and network components. As part of the one-stop-shopping rental contract, Compugen Technical Services staff operating from one of Compugen's 15 offices coast to coast handle all rental logistics, including delivery, setup and decommissioning. Customers can choose to rent new, state-of-the-art technology or they can rent lower-cost, second-generation equipment from Compugen's pool of off-lease equipment.

"Depending on what the application is, you may not always need to rent brand new equipment," says Glover. "The rental price is proportionate to the age of the technology; and if you're just doing straightforward data-entry work, for example, second generation equipment will do the job and cost less."

The City of Coquitlam in B.C. recently rented 90 second-generation notebook computers for three months under the new Compugen Finance program for use in gathering voter information and votes as part of running a municipal election.

"It was very convenient and comforting for us to be able to deal with our regular IT partner for this since rentals are usually a big hassle," says Darren Browett, IT Manager for the City of Coquitlam, about the deal with Compugen. "The rental program is just another example of Compugen's commitment to helping customers meet their needs, while getting the most value for their IT dollars."

The rental service adds a final piece to Compugen's 'lifecycle' approach to IT infrastructure management and TCO optimization, giving customers a single, cradle-to-grave partner for the complete spectrum of IT lifecycle services - from procurement and financing, to installation and ongoing support, and to final disposition.

Ever cost conscious, all three levels of Canadian government have taken advantage of Compugen's equipment rental program to date, including the City of Coquitlam; Elections Ontario, which rented printers for use in numerous locations to support the last provincial election; and the federal Foreign Affairs Department, which needed only a single desktop configuration, including a copier/scanner, to support a one-day conference.

"Leasing, and now renting, are becoming viable acquisition strategies for a growing number of organizations, and they allow customers to address the whole issue of 'GreenIT' and asset disposition and recycling, since the equipment is simply returned to Compugen," says Glover. "Customers should consider the 'use' of an IT asset not the 'ownership', and thus think in terms of 'Total Cost of Use' instead of TCO," he suggests.

About Compugen

Compugen, one of the largest Canadian-owned IT solution providers and PC systems integrators, has been providing practical, real-world IT infrastructure solutions since it was founded in 1981. Today, Compugen's experienced team of IT professionals helps medium-size and large corporations and government agencies across Canada with enterprise-level solutions that optimize IT costs and leverage technology for better business results. Compugen Finance Inc., a wholly owned subsidiary, offers technology leasing and rental services and ReCycleIT, a comprehensive end-of-life technology disposition service.

For more information on Compugen Finance's IT equipment rental program, contact Steve Glover at sglover@compugen.com or 905-695-8237.

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