When to buy or lease new business computers, networking equipment or other technology?
As a small business owner, you scrutinize every line item in your budget. Technology investment is often a large and needed expense.
For most of businesses, leasing computers and other office equipment including software and applications is a good option to manage your cash flow.
Today more companies are mobilizing their workforce to improve employees? productivity.? Working with outdated mobile gear and attempting workarounds can cost a company time and money.? Unless you are planning to buy a new laptop every two year for your mobile workforce ? leasing is a better option
In the light of all computing equipment, whether it is a server, printer, storage unit, workstation, laptop, tablet, call center, or mobile phones, the benefits are:
Keep your equipment up-to-date before it becomes obsolete
Computers and all tech equipment eventually become obsolete. When obsolete, it incurs additional maintenance costs.? This first benefit is passing financial burden of obsolescence to the equipment leasing company.
You’ll have predictable monthly expenses
The second highest benefit is a predictable monthly expense which can be budgeted more effectively and adjusted as old equipment is replaced with newer models.? This avoids the big spikes in cash flow requirements.
Preserve your financial resource in growing your company
Small and mid-sized, have a very small operating budget and buying equipment, hardware and software outright may just be too much for their budget. Leases rarely require a down payment, allowing installation of state of the art equipment without tapping into the much-needed funds that could be used for marketing, advertising or other functions to help grow your business.
You’re able to more easily keep up with your competition
Leasing can enable your small business to acquire sophisticated technology – affordably. The result: You’re able to keep up with your larger competitors without draining your financial resources.
Rule of thumb, for a new or growing company with 10 or more employees, leasing can be a better option.?
There are many important considerations
You’ll need to do your homework to ensure you get the most favorable terms. Like:
- Is this a capital lease or an operating lease??Consult with your CPA.
- Is there a buyout option?
- How long is the lease for?
- Are there additional expenses? Like insurance.
- Can I add to the lease?
- Can I terminate the lease early?
Yes, it is complicated, but you don?t have to do it all alone.? ITensure will share their experience and resources to help you find the right technology:
- We will help you to identify your needs and design your system.
- Plan your technology investment strategy.
- Introduce our vendor partners for the best business
- Answer your questions and oversee your leasing contracts and vendor deliveries.
- Making sure the implementation and transition are successful.
