The recent COVID-19 pandemic has caused small businesses to find creative ways to boost productivity and stay competitive. From focusing more closely on digital innovations to honing business processes to produce a more efficient workplace, businesses are turning to office technologies to keep — or expand — their position in the marketplace.
The problem for many small- and medium-sized businesses (SMBs) is, however, that they have a minimal budget with which to acquire the kind of cutting-edge technologies that make an actual difference in bottom-line revenue.
Additionally, technology is continually evolving, so newer, better equipment quickly outpaces the workloads and tasks handled by outdated equipment. But continuously replacing equipment is not an option for most — unless you study the considerable advantages of leasing office equipment rather than buying it.
Leasing Office Equipment to Gain a Competitive Edge
The high introductory costs of most equipment are a significant barrier to the purchase of much of today’s state-of-the-art office technology, but they needn’t be. Leasing or renting equipment can keep your office supplied with next-gen technology without the substantial up-front capital expenditure.
Other ways an equipment lease can contribute to your office’s ability to carve a generous portion of market share include:
A lease provides you with one, low specific monthly payment to manage. In that way, leased equipment makes your monthly expenses transparent so you can more accurately calculate your budget — or budget more effectively for future expenditures.
Creating Cash Flow
Typically, leased equipment doesn’t require an up-front payment, so your cash flow remains more liquid.
A freer cash flow means more money for mission-critical capital expenditures — or for a safety buffer in case difficult economic circumstances — such as happened recently with the arrival of COVID-19 in the United States — arise.
Tax benefits are not just for outright purchases. When you sign an operating lease, your monthly payments are categorized as operating expenses and can be deducted on your taxes.
If you have a finance lease, this is considered a debt. A debt allows your business to deduct the depreciation of the equipment over time.
Staying Current with Technology
Being competitive means staying abreast of new developments in technology. Leasing allows you to own better technology at a lower price than outright purchasing. The largest benefit of this arrangement is that at the lease’s end, your office can upgrade to even newer, more efficient technology without penalty.
Leasing office equipment is simple. Contact leasing companies in your area and request quotes and contracts for the equipment you would like to lease. Your business may have to submit a business credit history or other information to qualify, so have that information on hand.
Once you receive your information from lessors, choose the one that fits your budget, your business goals, and your needs.
Make sure to look closely at contract language to determine if there are penalties for cancellation, an option to buy the equipment at the end of the lease, or if it gives you the ability to upgrade or exchange equipment as technology — or your needs — advance.
Blue Technologies Leases Today’s — and Tomorrow’s — Office Technology
At Blue Technologies, we curate the best, latest, and most reliable office technologies in the industry. Our industry-leading partners, like Konica Minolta and Lexmark, offer a wide range of office equipment to meet any business needs.
The feature-rich, powerful performance of our office copiers, printers, and multifunction devices will help your office stay on top of shifts in the marketplace, allowing your staff to work more efficiently for a better business outcome.
Our managed print services allow you to experience state-of-the-art technology, along with automated replenishment, routine maintenance, and expert troubleshooting for a low monthly fee. Also, our team of IT experts will ensure your sensitive data is secured with the highest level of safeguards and protections available.
With automatic updates and upgrades, your office equipment will always be working at full capacity, and your critical information will be protected.
Don’t fall behind your competitors — gain access to state-of-the-art office equipment the easy way with managed print services. Contact a Blue Technologies consultant today and learn how our managed print services team can serve you and your business.