A Smart Way to Pay for Your Technology Solutions
Payment options are pretty standard when buying phone systems, video conferencing, security, AV, IoT solutions or any other related technology solutions. There’s the common cash purchase, and traditional lease options. However, none of these were formulated with the customer or businesses in mind. The ultimate goal in business is to grow, so why be strapped to a payment option that doesn’t grow with your business?
Technology equipment-as-a-service is a termed rental that provides you with the flexibility to grow and change as often as your business does. Through added benefits of the Solution Replacement Guarantee (SRG), Act of God Coverage, accounting benefits, and more it provides you with the peace of mind to know you will never be penalized for growing.
Here are six reasons you need consider this technology-as-a-service payment option to be sure you are making the most logical financial decision when acquiring new technology.
Stash Your Cash
You should use your cash for revenue generating business activities. Think marketing, R&D, and growth opportunities. Don’t drop large sums of capital on a depreciating asset like technology equipment. It is simply not the smartest decision with more sensible options on the table.
Gone are the days of keeping your technology for a decade. Technology advances at a more rapid rate than ever before. Don’t strap yourself to a dinosaur of a phone system or subpar surveillance equipment, or other antiquated technology by owning it when better options are available. Technology-as-a-service is the only payment alternative that provides you with more flexibility and control to change and upgrade as needed without obligation for remaining balances.
Use > Ownership
The demand for X-as-a-Service has never been higher. Organizations are seeing the benefit of not having to be burdened and tied down by owning their equipment due to subscription-based payment models. Technology’s importance lies in the USE of the equipment, not in ownership. Similar to reason #2, due to technology’s rapid advancement and current equipment’s depreciation rate, what do you really end up owning anyways?
Most finance companies you work with can work with you on your payment schedule. Have more cash flow during different seasons of the year by paying monthly, annually, or quarterly. Work in sync with your finance partner and your cash flow.
Due to the Time/Value of Money (TVM), money in hand today is worth more than money in the future. Therefore, the sum of monthly payments made over time actually has less value and cost to you versus an entire upfront payment today. There are also financial and tax benefits to this OPEX payment method, which contributes to technology-as-a-service being a lower-cost payment option.
Bundle Maintenance & Support
With a monthly payment, it makes bundling in multiyear maintenance with equipment easy. It only adds a small amount to the monthly cost. You have the peace of mind knowing you’re protected from your bottom line being affected due to any technology malfunctions.
Need some help determining if technology-as-a-service is right for you? Contact Plow Networks.
Headquartered in Brentwood, Tennessee, Plow Networks is a Total Service Provider (TSP) with several distinct business practices that, when consumed together, offer our clients a unique, best-in-class experience. We give organizations peace of mind, valuable time back and the economies of scale that come with having one technology partner that is focused on exceeding their expectations with every engagement.