New technologies are advancing at an ever-increasing rate from the new developments in artificial intelligence, to wearable technology and self-driving cars. We cannot deny how the world is changing rapidly. How quickly you respond to these advancements in technology could make or break your industry. Does anybody remember Kodak?
As we enter into the Fourth Industrial Revolution and disruption is the language of the day, businesses will be tested by their ability to respond to technological change. Will you sit on the side-lines and watch as others take advantage of emerging technologies, or will you take progressive steps to adopt innovative solutions?
Remaining on the cusp of technological advancement has traditionally been quite expensive, however, this is no longer the case, as buying technology isn’t the only option. Businesses can now lease the equipment that they need.
The trend towards dis-ownership
Business often grapple between the desire to seek out competitive advantage through the adoption of new technologies and, the cost to acquire and deploy these technologies in their environment.
Let’s look at IT equipment for instance. According to the IDC, commercial notebooks and detachable tablets will drive a return to growth in the personal computing device market in 2019 through to 2021. The global market is moving towards convertibles and ultraslim notebooks.
When it’s time to upgrade the computers in your business, the costs involved to overhaul your IT implementation should not be a hindering factor. Leasing is a viable option.
The trend away from outright IT ownership in favour of leasing is rapidly increasing, according to Federico De Silva, research director at Gartner.
“Organisations continue their move away from owned IT in favour of accessing IT services, especially in infrastructure and software,” he said at the Gartner Tech Growth and Innovation Conference.
The trend has begun to extend to hardware as well, as businesses can refresh their equipment more frequently at an optimal rate without needing to dispose the outdated technology – the leasing company handles that.
Besides being an unnecessary hassle, there are unforeseen costs associated with disposal, which could be up to 20% of the original equipment cost.
The affordable way to own the latest technology
When leasing IT equipment, businesses are offered fixed monthly repayments, which helps them to budget and preserves their working capital. Companies can also avoid wasting money by investing in depreciating assets that have little or no resale value.
With the right leasing partner, IT equipment can cost even less over time if the leasing company offers subsidised finance.
InnoVent, which offers specialised leasing and life cycle management solutions, is a leading player in the leasing market and can save businesses from paying the full purchase price of new equipment – without impacting on the equipment type or the usage period.
Businesses only pay for a portion of the equipment for the duration that they use it, and InnoVent covers the rest.
This significantly reduces the leasing costs, resulting in a lower cost of finance that compares favourably to traditional forms of finance.
For more information on leasing solutions, visit the InnoVent website.
This article was published in partnership with InnoVent.