The modern world that is predominantly dependent on computers and internet has many a giants to thank. IBM Company surely makes it to this list. It is a technology and consulting
firm which was founded in USA. However, over the years, the organization has grown manifolds and has its branches spread over 170 countries across the world. IBM aka International Business Machine Corporation is known for marketing of hardware and software along with offering consultation and hosting solutions.
Founding Date: June 16th, 1911
Company Name: International Business Machines Corporation
Industry: Information Technology/ Cloud Computing
Country: Armonk, New York, USA
Company Website: www.ibm.com
The Beginning of IBM
IBM Company was founded by Charles Flint on 16th June, 1911. It was formed in a small village in USA called Endicott by merging three companies, namely International Time Recording Company, Computing Scale Company and Tabulating Machine Company. Thus the organization was initially named CTR which stood for Computing Tabulating Recording Company. It was not until 1924 that the company was christened as IBM.
In the initial days, the organization manufactured everything from industrial time recorders to punched cards and even meat slicers. Later as new employees joined they graduated to producing tabulating machines which became an instant hit with the organizations. These machines enabled them to process large amounts of data with ease.
As the company’s new products became popular, they started concentrating on reaching out to customers in the global market. They came up with IBM World Trade Corporation with the sole purpose of concentrating on the global marketing operations.
The IBM Innovations
The IBM Company was also much into research and development. After a lot of brainstorming sessions, they finally launched their first computer family which was named IBM System/360. These computers allowed the companies to upgrade to new system without worrying about altering their existent codes and records.
IBM is also known for the introduction of Universal Product Code into the market which makes it easier to keep track of the traded items. They were also the pioneers to come up with the Financial Swaps in association with World Bank that has said to change the face of banking across the world.
The other major innovations that IBM Company has to its credit are floppy disks, ATM machines, magnetic stripe cards, Watson artificial intelligence and SQL.
IBM Company is involved in the development of hardware as well as software products. Among their various hardware products, the Power microprocessors manufactured by them are widely used in most console game machines as well as PS3, Xbox 360 and Nintendo Wii U.
The IBM Cloud and IT Sourcing are the other major services that they offer to various companies worldwide.
The IBM Company
With more than 435,000 employees working for the organization worldwide, IBM is said to be the second largest firm in the world. It is known to have an amazing employee management system. In fact, they were the first to introduce the group life insurance policies for their employees.
With 20 research centers across the world, IBM Company is known to hold the record of maximum number of patents in the past two decades.