ColumbiaSoft™ Announces New Customer Financing Program with FirstCorp®

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Aug 07, 2008

Portland, Ore. – August 7, 2008 – ColumbiaSoft™, a leading provider of enterprise-class document management solutions, announced today that it has initiated a new customer financing program with FirstCorp®, an industry-leading equipment leasing company. ColumbiaSoft customers now have the option of financing their purchase of document management software with the potential to write off up to 100% of the purchase in 2008.
 “How financing is packaged can have implications on Section 179 tax advantages for this year,” said ColumbiaSoft executive vice president of worldwide sales and marketing, David Pogue.  “So we are very pleased to have this agreement with FirstCorp in place because it not only extends additional options to our customers, but we believe FirstCorp is also well positioned to offer their expertise in structuring finance packages so that our customers may realize the greatest financial benefits possible.”

IRS Section 179 allows businesses to claim a taxable income deduction for equipment purchases (including software). Congress doubled the amount that companies can deduct for purchases in 2008 to $250,000 as part of a $152 billion economic stimulus package designed to encourage greater investment by businesses this year. Companies can purchase more this year, and receive a greater tax benefit.
“Conserving cash while obtaining the maximum tax benefit when acquiring needed software is critical to a company’s success in today’s economy,” said FirstCorp executive vice president of sales and marketing, Dave Farber. “ColumbiaSoft is enabling that by offering their customers a flexible and cost effective way to procure its document management solutions through leasing with the ability to leverage the 2008 tax deduction.”

About FirstCorp
FirstCorp® is an industry leading equipment leasing company that provides vendor leasing and financing services to top industry markets that include technology, healthcare, and manufacturing. Since its formation in 1980, FirstCorp’s leasing solutions have been helping companies reduce costs, improve profitability, and conserve capital while acquiring new equipment. In addition, FirstCorp’s vendor services have been providing sales organizations with anytime, anywhere custom financing programs that increase customer acquisition and retention. Acquired by IFC Credit Corporation in 2002, headquartered in Morton Grove, Illinois with additional branch offices in Portland, Oregon and Irvine, California, FirstCorp continues to serve a broad market of small and medium sized Fortune 500 companies.

About ColumbiaSoft Corporation
A private, Portland, Oregon-based company founded in 1998, ColumbiaSoft is the creator of Document Locator®—a next-generation enterprise-class document management solution that is fully integrated into popular applications such as Microsoft Windows, Office, Outlook, SharePoint, Adobe Acrobat and AutoCAD. Thousands of information workers use Document Locator to capture, manage, and share paper and electronic documents, e-mail, and faxes—saving costs, increasing productivity, and meeting compliance requirements. ColumbiaSoft is a Microsoft Gold Certified Managed Partner.

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