Getting more, for less

In tough economic times, companies who want to survive need to find ways to spend less and make more. In the past, it was accepted that businesses who want the latest technologies and solutions, must be prepared to fork out a lot of capital. This is no longer the case.

In today’s information age, IT equipment such as laptops, projectors, and multifunction printers is especially vital to effective business operations, and the cost of technology can often be prohibitive. The latest and greatest IT equipment can often be the differentiator that sets a company ahead of its competition, says DJ Kumbula, CEO of Qrent, a fully-fledged division of InnoVent Rental and Asset Management Solutions. “Many companies are considering renting instead of buying, as a means to still benefit from state-of-the-art equipment, without the exorbitant costs.”

He says companies of all sizes, and across all industries, are taking advantage of long or short-term rental services. “Some companies need a couple of PCs and printers, while others need high-spec, high-tech equipment to run their organisations. Either way, they are saving a ton of cash, and having the majority of their IT needs met.”

Kumbula says equipment rental can take care of many different needs. “Some companies will rent their audio visual equipment – projectors and LCD screens, either short or long term, depending on how long they need it. Others will rent out everything needed to run their call centres, and some will rent switches, routers and other equipment needed to address their networking and telecommunications’ needs.”

By renting, he says the pressure is off businesses to keep up with the latest equipment. “Continually having to purchase the latest and greatest technology the industry has to offer, can be a prohibitively expensive exercise. Technology changes rapidly, and companies that don’t keep up with it, run the risk of falling behind.”

Leasing keeps an organisation’s equipment completely up-to-date, he says. “Obsolescence is no longer a worry, as the financial burden of out-of-date equipment falls on the shoulders of the leasing provider. Once the lease is up, the company can access the newest and fastest equipment, without a large capital outlay.”

In addition, Kumbula says there are no large, initial costs. “This is particularly beneficial for smaller companies that need to keep a careful eye on their bank accounts. Down payments are not usually demanded, meaning cash can be kept for more pressing concerns.”

He cites another benefit as knowing exactly what the business is spending on equipment each month. “Costs are pre-determined, meaning a company knows exactly what it is in for, with no nasty surprises. This helps the business budget better.”

Another benefit of leasing, he says, is that businesses have access to equipment they could never afford to buy outright. “That fancy server or phone system is now within reach. The business can enjoy the same technologies as its competitors, without putting strain on cash reserves. Leasing provides the use of equipment for set periods of time at a fixed cost. It takes on and manages the risks associated with equipment ownership. It also, more often than not, includes installation, maintenance and other services, again removing the need for capital outlay.”

Finally, says Kumbula, as opposed to buying from a vendor, leasing companies offer a variety of products, allowing the lessee to completely customise solutions that address their specific needs and requirements.