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Should your organization consider leasing equipment during a pandemic?

2020 has brought a new dynamic into most businesses and organizations. Both the methods of consumers and businesses alike have dramatically changed and many are still in the process of adaptation. Naturally, a change in consumer’s buying decisions can have a direct effect on current cash-flow and if your organization is in need of an equipment or service upgrade, that can be an issue. That’s why it may be time to consider hardware as a service and technology as a service for your next investment and here’s a few reasons why that might be beneficial for your organization right now.

  1. What you need now might not be what you need in the future

Covid-19 has introduced a lot of elements to our day-to-day processes. Rooms are restructured to create distancing and limit occupancy, surface touching is reduced and in certain cases, eliminated. These changes are all necessary precautions required at this current time but ideally as a vaccine is introduced and we move forward, certain aspects will shift back to what we’d all consider normal. If the current scenario requires investment in new equipment or services, leasing allows you to utilize what you need when you need it and then gradually phase back to a more traditional state of operations as we’re able to.

  1. Your working capital

Now more than ever, businesses understand the importance of working capital. Cashflow can be compromised during times like these and tying up a large amount of your current capital for equipment purchase just may not be possible. This is a clear benefit of leasing in the sense that it allows you the equipment and upgrades you need while still allowing you to keep your working capital free for other necessary expenses.

  1. Tax incentives

Leasing can bring significant tax benefits. For many organizations who lease equipment, the interest paid can be written off as tax-deductible. Additionally for some, the entire lease payment itself can be written off as a business expense as opposed to just the interest. This can be especially helpful during harder economic times.

  1. It’s Easy and Simple

I imagine many would agree that not much has been easy or simple this year but if your organization decides to utilize hardware as a service and technology as a service, you’ll be pleased with the ease and simplicity of the process. For our clients, we have a long-term relationship with amazing financial partners that make both the application process and the funding process incredibly straightforward and simple. In challenging times like a pandemic, there is value to a process that is easy and simple.

 

If you’re ready to discuss your next equipment or service purchase and you’re interested in utilizing alternative financing and have question please utilize the form below and we’ll be in contact with you soon!

Ready to learn more?

If you’re ready to discuss your next equipment or service purchase and you’re interested in utilizing alternative financing and have question please utilize the form below and we’ll be in contact with you soon!

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