Independent Technology & Equipment Lessor • Strategic Partners

Make 2016 Your Best Year Yet: 10 Tips to Leverage by December 31

December is a very productive month. The holidays make it a short one, but we’ve compiled a list of 10tips you can easily use before December 31 and set your organization up to reap the benefits come 2016. A little effort now can make 2016 your best year yet.

  1. End-of-year and New Year discounts. Better than Cyber Monday, this is the time of year to take advantage of discounted vendor offerings to implement new projects in a cost-effective manner.
  1. Deferred payments. If you opt to finance your organization’s December projects, you can defer payments until 2016. Couple this with end-of-year discount offerings from vendors, and this makes it a double win.
  1. Getting old is now a security risk. Security costs are not just a patch and go on policy, but here to stay—and the decreasing useful life of the technology and equipment at your organization is now a major security risk. Now more than ever, it is important to keep your hardware current and your software compliant, requiring shortened refresh cycles. Leasing allows you to pay only for the useful life and is the perfect financial match for a shorter refresh term.
  1. Budget, what budget? Everyone knows state-of-the art technology encourages innovation, but without the right budget, this can be difficult to achieve. Leasing can assist your organization mitigate risk, avoid large end of year cash outlays, and make that important investment into a monthly budgetary expense. Leasing allows you to overcome any budget shortcomes.
  1. The world according to the monthly expense. Let’s face it – the business model across all verticals is shifting in favor of being able to pay for technology as a monthly expense. If your organization has a long held tradition of purchasing its technology and equipment, now the time may be a ripe to discuss the pace of change in technology and the security risks in obsolete equipment, along with other market conditions which favor a monthly expense versus a large capital outlay.
  1. Are you giving your banks enough business? An independent lessor may be able to assign your lease payment stream to your bank. Good banks make good friends and good leasing relationships help improve your bottom line, keep you on the leading edge of technology and can have a positive impact on cash flow.
  1. What steps can you take to cut your technology and equipment leasing costs? If your organization is already leasing, this is the time of year to review lease contracts. There are terms and conditions which can have a large impact on the Total Cost of Ownership of your leased technology or equipment, including pro-rata and interim rent. Click here to read more.
  1. Why aren’t you leasing? This is a good question to be asking. A leasing option should be a vital part of your organization’s discussions to meet the current market demands in a cost efficient manner. Security consequences have eliminated the excuse of not having enough resources or time to track the hardware—which has always been a necessary requirement for leasing.
  1. Multi-Year Service Agreement Financing. CoreTech recently extended our capabilities to allow financing for multi-year software licenses and equipment and software maintenance contracts. This lets your organization take advantage of large discounts and lower your overall costs while avoiding large upfront cash outlays. Ask us more.
  1. Agility: It rhymes with stability. This was a recent article from McKinsey, and comments: “Why do established companies struggle to become more agile? No small part of the difficulty comes from a false trade-off: the assumption by executives that they must choose between much-needed speed and flexibility, on the one hand, and the stability and scale inherent in fixed organizational structures and processes, on the other.”

Leasing helps your operations stay agile and affordable while freeing up bank lines and remaining financially flexible to scale to business needs. Contact us to discuss how your organization can make the most of December to succeed in 2016.

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