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Tips to Save Small Businesses Money on Hardware, Devices

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Small business owners and managers know that an itemized, efficient budget is essential to their bottom line. Office equipment and supply expenses can be a drain on a budget that could otherwise be allocated to other operational costs.

You could save costs on office equipment by following these tips.

  1. Get an IT assessment. A third-party IT provider could conduct a network assessment and inventory your current IT systems. This process can identify system risks and provide a list of updates and projects your business should prioritize. A proactive approach can save your business countless dollars in cyberattacks or system failures.
  2. Use eco-friendly equipment. Offices that have switched to energy-efficient appliances and hardware have seen a decrease in monthly utility bills. Many printing manufacturers offer a line of energy-efficient devices.
  3. Lease your hardware. Leasing allows you to obtain new office equipment immediately and gather funds as you use it. Budgeting also becomes easier as businesses can plan on the same monthly payments for a year or two instead of guessing as to what their budget should be for a new piece of equipment paid in full. Businesses also are able to switch out hardware when they need equipment with updated technology.
  4. Find hardware with multiple purposes. Multifunction printers — printers with scanner and copier functions — make sense for small businesses who have to stretch their resources in many directions. Multifunction printers are a solid investment and prevent you from wasting spaces and resources on a variety of devices.
  5. Consider using refurbished equipment. Many manufacturers or dealers offer refurbished options at a discount. Your provider can provide a thorough examination of every machine. They can repair or replace worn parts to make sure that your refurbished machine runs like new so you get maximum value.
  6. Receive regular maintenance. Similar to an IT assessment, receiving regular repairs on office equipment can stave off larger issues that upend workflow, costing you money in both expensive repairs and business operations. Managed IT services are the best model to save your resources and receive a return on your hardware investments. Instead of paying large fees each time you need assistance, your IT needs are covered in one monthly payment to one vendor.
  7. Scale your services. Most businesses need a variety of channels with which to communicate with staff and with customers. A managed IT provider can set your business up with a hosted communication system, which encompasses phones, audio and video conferencing, instant messaging and VoIP — voice over internet protocol. A hosted communication system is run through the cloud, and services are scalable so you can add channels as your business grows, paying for the exact amount of services you need.

The Benefits of Leasing an Office Printer

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Has your office needed a new printer for a while, but the cost and dizzying number of options on the market are holding you back? Leasing an office printer could be the secret to a much-needed equipment upgrade.

Limited overhead costs

What would you do with a budget surplus? Small and medium-sized business owners and managers probably have a long list of answers. Sadly, many organizations don’t have extra funds that are not already allocated for the fiscal year. Multifunction printers, or MFPs, can cost a few thousand dollars, and prices change with the market. Leasing allows you to obtain new office equipment today and gather funds as you use it, not scrape for the full amount or max out credit limits to buy a printer. Budgeting also becomes easier: businesses can plan on the same monthly payments for a year or two instead of guessing as to what their budget should be for a new printer paid in full.    

Updated technology

Technology develops at a breakneck pace, and your office needs equipment that matches your businesses’ advancements. Companies that have a high volume of specialized print jobs have the flexibility to upgrade their equipment for the most effective and efficient tools when their contract is up.

And while some organizations may not be looking for the most tricked-out new printer to enter the market, your office will be better off with a system that runs and uses ink as efficiently as the newer models do. Additionally, new MFPs have increased security measures. Manufacturers are making printers that protect sensitive information by requiring users to sign in before gathering their documents.

Smooth transition

When you lease a new MFP, providers typically take care of set up, connecting it to Wi-Fi and other devices in your office. Infomax also performs test runs and on-site training to ensure employees are able to use the equipment to its full capacity.

Easy upkeep

Most equipment providers offer maintenance plans that make fixing printer jams or other production snags a breeze. This means your business can avoid the hassle of searching for service technicians and exorbitant bills each time your MFP needs servicing. Regular ink cartridge and toner changes also are typically included in a leasing package.

Painless disposal

When you lease a printer from a third-party provider, you can avoid the hassle of selling or disposing of your old model when you want to upgrade. Gone are the days when old technology could be sent out with the trash. Today, companies must ensure their data is secured and need to comply with safe, environmentally friendly regulations regarding disposal. When you lease, disposal issues are the responsibility of the lessor, not yours.

To learn more about Infomax’s leasing options, message us online or call 1-800-727-4629.

Leasing Business Technology Equipment—FAQs Answered

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Leasing business technology equipment is a viable option for businesses of all sizes. In many cases, it makes more sense for an organization to lease equipment rather than purchase it outright. We’ve put together a few Frequently Asked Questions that can help you better understand this practical and strategic option to determine whether it’s the right choice for your business.

What is a lease?
A lease is an agreement for the rental of equipment for a specific amount of time.

What’s the difference between a lease and a loan?
A lease attaches a formal contract to the use of a machine.

What’s the difference between leasing and renting?
With leasing, you’re agreeing to make payments (typically monthly) over the life of the agreement, instead of one payment for its entire duration. Typically, renting is short-term (days to weeks) while leasing is long-term (years).

When is leasing better than buying?
Leasing is ideal when you want to limit your initial cash output, since with leasing you make monthly payments over a pre-determined period of time. Leasing is also perfect for companies looking to stay on the cutting edge of technology.

What’s the average length of an office equipment lease?
Typically, an equipment lease for office equipment is 60 months.

Who owns the equipment?
Throughout and after the lease, your lessor (the company providing it) owns the equipment.

Who services and supplies the equipment?
Your lease provisions usually include bundled service, toner, part replacement, and maintenance kits. Talk with your lessor about their package options.

What happens to the equipment after the lease is up?
You may have the option to extend the lease agreement, buy the equipment, or return it to the company.

How much does it cost?
Monthly payments vary depending on the lease length and the type of machine (black and white laser printer, multifunction printer/scanner/copier, copier only, etc.).

What do I pay up front?
Like most leases, equipment leases usually start with payment of the first and last months at the time of lease signing.

So, is leasing business technology equipment right for you? Consider the equipment you need, your ideal payment strategy, and whether you want to manage maintenance or have it handled for you. Contact Infomax today to learn about our office equipment leasing options.

Let Leasing Work for Your Business

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It’s time to replace that old printer, copier, or MFP. Fortunately, this likely means that your business’s needs have outgrown your current printing solution, and that means things are going well. Still, the thought of replacing equipment and the hassles associated with purchasing it can make the process far more complicated than it needs to be. For example, an alternative solution to purchasing new equipment is leasing.

If you’ve never considered leasing your printing products, here are just a few ways it could benefit your business.

  • Improve cash flow. Everyone loves cash, so why not hold onto more of yours? Leasing equipment frees up cash flow, as it reduces the need for painful setup costs. Furthermore, very few lease financing options require a down payment. Companies will usually work with you closely to tailor your printing solutions for your specific needs.
  • Easier financing. Unlike the traditional purchasing process, in which approval can take months, leasing companies typically only need six months to a year of credit history. This means you can start solving your printing needs right away, regardless if your company is newer than most.
  • Up to date. When purchasing new printing equipment, it is only a matter of time before that machinery becomes obsolete, or at least out of date. Fortunately, with leasing companies, you can keep pace with technology, updating your equipment as you go.
  • Planning for the future. Leasing your printing solutions means that you are set up for the future. When your business is booming, you can adjust accordingly. Conversely, when rough waters occur, you can rest assured knowing you are paying for what is required for your business, and you can adjust accordingly.
  • Short terms. Typically, a leasing company will lease equipment for a two-year term. This way, as situations change, so too can your printing solutions.

To learn more about how leasing your printing solutions can be beneficial to your business, contact Infomax today.