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Getting to the Core Newsletter

Leasing is a Win-Win: Stay Up-to-date with Technological Advancements and Security

IT spending is projected to reach $3.5 trillion in 2017, a 2.7% increase from 2016, according to Gartner. If the past is an indicator of the future, the technology we use today will likely be labeled obsolete over the next few years. CFO’s and CIO’s are tasked with solving this ongoing trend.  A proactive approach to cycling IT hardware and software can be achieved through leasing. The question you need to answer is: how secure is your infrastructure?

Leasing provides a built-in exit strategy for your technology and equipment as it is known it will need to be replaced in less than the company’s depreciation period.  Leasing also allows you to lock into a fixed monthly lease payment vs. variable payment bank loans. Talk to one of our experts to discuss custom, flexible solutions that meet your organization’s needs:  866.758.2673 or email info@coretechleasing.com.

 

Law Firms Need Effective Data Security

Law firms are routinely entrusted with highly sensitive information about their clients as a course of business, thus the need for effective data security is preeminent.

If law firms’ security is the weak link to gain access to clients’ information, vigilance, best of breed technology and good processes will help minimize exposure.

Leasing helps to keep software and hardware up to date and is also an incentive to ensure the IT team can track assets at all times. Moving to a monthly expense model puts the firm in an agile position for change, seamlessly enabling technology and equipment replacement as well as payment replacements, rather than becoming bottlenecked in approval processes and bogged down in additional cash expenditures.  Read the story here, and contact us about the benefits of leasing to mitigate risk.

 

Does your Computer Have a TPM For Disk Encryption?

TPM is a chip in the computer’s motherboard which generates encryption keys and keeps part of the key to itself. This prevents an attacker from removing the drive from your computer to access the files elsewhere. The chip provides hardware-based authentication and tamper detection so an attacker can’t tamper with the motherboard

 

Read these and other stories in our latest newsletter: Leasing is a Win-Win: Stay Up-to-date with Technological Advancements and Security

Security Best Practice: Always on the Upgrade

If 2016 made one thing perfectly clear, it was the omnipresence and permanence of cybersecurity threats.  While there are no silver bullets when it comes to security, ensuring your organization remains equipped with state-of-the-art technology and equipment is no longer a luxury, but a vital best practice.

Advances in technology and software, however, are being made with extreme rapidity, and it can be challenging to keep up.  Leasing or financing provides the opportunity for an IT department to replace/upgrade equipment and software on the fly as upgrades are released, while at the same time working within a budgeted monthly payment. The decision cycle can also be shortened since the request for another large capital expenditure can be circumvented.  Interest rates are increasing–CoreTech is here to help.  It’s time to discuss a fixed monthly lease payment vs. variable payment bank loans. Talk to one of our experts to discuss custom, flexible solutions that meet your organization’s needs:  866.758.2673 or email info@coretechleasing.com.

 

Law Firm Data Breaches on the Rise

Law firm data breaches increased exponentially in 2016 and took a firm standing in both the national and international headlines. Data breaches involved incidents ranging from lost or stolen laptops and other portable media to hacks of highly sensitive data, leaked for financial gain—and create enormous financial and reputational risks to the firm.

The least we can do is do our best.  Leasing helps to keep software and hardware up to date and is also an incentive to make sure the IT team knows where assets are located at all times. Moving to a monthly expense model puts the firm in an agile position for change, seamlessly enabling technology and equipment replacement as well as payment replacements, rather than becoming bottlenecked in approval processes and bogged down in additional cash expenditures.  Read the story here, and contact us about the benefits of leasing to mitigate risk.

 

Section 179

It’s not too early to use Section 179 in the IRS tax code to deduct the cost of qualifying business for 2017; if extended, the current limit is $500,000. Even if it is a smaller aspect of a larger project–the savings are material.  Call us today for more information: 866.758.2673.

Read these and other stories in our latest newsletter, here: Security Best Practice: Always on the Upgrade

 

 

 

 

 

 

 

 

 

 

How Leasing Aligns with Technology Adoption Growth and Growing Security Concerns

ILTA Technology Survey is Out!  Some Key Takeaways

As law firms’ technology adoption continues to grow, so does technology spending. To stay competitive, a significant amount of law firms’ technology budget is devoted to building out infrastructures and processes to protect data from breaches, attacks, or insider threats.

There is significant pressure on firms to protect client data and the annual ILTA/InsideLegal Technology Purchasing Survey revealed that, over the past year, 44% of firms have purchased cybersecurity-related software.

Here are some other findings:

  • 53% of respondents cited increased budgets (due in large part to heavy investments in core hardware and renewals), a 12% growth rate compared to 2015.
  • In 2016, more firms have been purchasing security awareness training services, software and content (27%); security monitoring services for the network (27%); and artificial intelligence technology (3%).
  • 59% of respondents outsource security assessment/penetration testing services.
  • Firms’ top IT challenges include security management (67%), user adoption/lack of training (42%), risk management/compliance (40%).

Leasing provides a built-in mechanism for adapting to new and emerging technologies, security upgrades as well as provides for financing of soft costs (training, implementation, etc.) software keeping your firm steadily within budget.

We invite you to read the full ILTA/InsideLegal Technology Purchasing Survey, here.

 

Semi-Conductor Expands its Presence into Other Industry Verticals

Today, semiconductors and the applications they enable are venturing into every industry verticals that were before unimaginable.

To adapt to this unexpected shift, the industry will have to refocus—selecting the best technologies to fit each industry verticals’ needs, including re-using older process nodes or increasingly more powerful reconfigurable interconnects.

With that shift comes the need for security as more and more industrial control technologies are getting hacked putting people’s lives and livelihoods at risk.

“Every vertical has different requirements and we’re going to need specialists in each one, perhaps guided by the folks who have seen and assessed risks over the years in traditional semiconductors.”

Leasing is uniquely attuned to the growth and expansion of the semi-conductor industry. Please read the full report here, and reach out to us to discuss how CoreTech Leasing can help your organization prepare for unexpected change.

 

Education Technology is Reshaping Research

Experts say education technology is a powerful tool that can transform the evolving field of education.

The belief that education technology should extend beyond bringing technology into traditional classrooms has led to a rapid growth – globally – in funding for academic research. The National Science Foundation reported that the United States’ federal government has provided universities with almost $70 billion for research.

Leasing supports educational research and assists institutions in procuring updated technology according to their needs, while strengthening their efforts to make their information security program bulletproof. Read the full story here.

 

Digital Technologies Tackling Corruption in Healthcare

Digital technologies are helping to tackle corruption in healthcare.

Technological innovations such as apps offer opportunities of improved governance in the healthcare sector, mainly in low and middle income countries. Experts say that good governance plays an important role in ensuring citizens have fair access to high quality healthcare.

“As digital technologies become more widely available there are real opportunities to make a difference, and we’ve seen some great examples of innovation.”

Dr. Claudia Pagliari, Senior researcher, The University of Edinburgh’s Global Health Academy

Leasing is a financial strategy which allows your organization to roll out the best digital technologies available, while providing you with strong asset tracking to mitigate risk. Considering leasing? Talk to us and read the full story here.

 

Read this and other articles in our most recent newsletter: How Leasing Aligns with Technology Adoption Growth and Growing Security Concerns

Technology Game Changers and Leasing Strategies Across Industries

 

The legal world is changing – and the creation of an empowered mobile workforce is key to that change. Decentralizing the workplace and creating a world where no-one is ever “unplugged” is one of the key factors shaping the world of work in 2016. Lawyers, like other high-status professionals, are increasingly expected to be flexible, accessible, and available on a moment’s notice, no matter where they are.

Yet, as Legaltech News recently covered, this decentralization comes with its own data security risks.

Leasing is a financial strategy which allows your firm to roll out the best mobile devices available, while providing you with strong asset tracking to mitigate risk. Mobile lawyers will no longer have to risk working with outdated, aging devices which are vulnerable to hacks or failure – and asset tracking helps to control the threat posed by a lost or stolen device.

As we move to an increasingly mobile legal world, these concerns will be more crucial than ever to law firms’ operations. We encourage you to read the full Legaltech News piece, or click here, and to contact CoreTech at 866.758.2673 to see how leasing can complement your firm’s mobile policies.

 

Semi Forecasts Semiconductor Market Will Grow by 11 Percent in 2017

 

Good news for the semi-conductor market as analysts expect an overall increase by 11 percent in 2017:

We expect capital spending to improve for the remainder of 2016 and into 2017. Taiwan is forecast to continue as the world’s largest spender with $9.5 billion estimated for 2016 and $10.0 billion for 2017.

Leasing is uniquely attuned to the sudden change in the market of the semi-conductor industry. Please read the full report here, and to reach out to us to discuss how CoreTech Leasing can help your organization prepare for growth.

The Technology of Higher Education

The historic disconnect between higher education and the needs of the labor market is a data problem. In the past, data translating the discrete skills or competencies that employers need was not easily available or meaningful to faculty who create courses, or the students who take them.

Meanwhile, hiring managers have consistently relied on signals supported by anecdotal evidence, at best — for example, assuming that philosophy majors from Brown made terrific analysts, or that teachers with master’s degrees performed better in the classroom.

Today, technology is changing the relationship between education and the workforce in four distinct ways.

Read the full story here.

 Emerging Medical Technologies are Changing Healthcare

 

Emerging technologies are changing the way care is delivered and enabling providers to stay continuously connected with patients wherever they may be — or at least connected to the devices that indicate whether a patient is abiding by prescription protocols, getting up and about safely, and eating regularly.

“With new technology, surgeons will have hands-free, immediate access to critical information, checklists and reminders specific to injury categories that will greatly assist our efforts to provide effective, timely care that saves lives.”

Christoph R. Kaufmann, M.D.

Trauma Medical Director

To learn more about how technology is changing how and when care is given, read the full interview here.

 To read the full newsletter, click here.

 

The ALA Large Firm Administrators Retreat: Four Reasons to Attend

#1: Napa!

CoreTech Leasing is proud to be one of the exclusive sponsors of the Large Firm Administrators Retreat at the Silverado Resort in Napa this August 4-6.  This destination event is one of the most anticipated events of the year, not only because of the truly spectacular location, but as well the premier educational programming from award-winning presenters curated by the Association.

To read the full newsletter, click here.

Across Industries, Innovation Is on the Rise — And Leasing is How It Happens

As the pace of innovation accelerates, the useful lifespan of an organization’s technology and equipment decreases inversely. In this environment, leasing is a strategic choice–as more and more organizations understand they earn ROI on their equipment by using it, not from simply owning it.  Specifically, leasing allows organizations to:

  • Pay only for the useful life of your technology and equipment as the pace of change continues to rapidly increase
  • Keep cash on reserve and convert your infrastructure requirements to a simplified monthly expense
  • Use the most up-to-date versions of software and hardware

Technology and equipment updates are built into leasing plans, assisting you to receive the latest security and firmware updates without having to wait for new budget cycles or tap into its cash reserves. The “soft costs” of training, installation, and maintenance can also be a part of your lease structure, decreasing your chances of system failures and keeping healthy up-to-date systems across your technology environment.

Contact the CoreTech team to learn more about the benefits of leasing over purchasing for your organization.

To read the full newsletter, click here.

The CoreTech difference:  Relationships, not transactions.

Organizations across all industries are increasingly recognizing the strategic value of leveraging leasing for their equipment and technology requirements.  No matter what your industry, leasing will help your organization to:

— Pay only for the useful life of your technology and equipment as the pace of change continues to rapidly increase

— Use the most up-to-date versions of software and hardware, a necessity in order to remain cyber-secure in today’s markets.

— Keep cash in reserve and convert your infrastructure requirements to a simplified monthly expense

This is great news and smart business.

We want you to know that when working with CoreTech, you are a relationship and not a transaction.  We work closely with our clients to achieve the custom and flexible solutions they seek and are strategic partners across the entire lifecycle of the lease—from beginning to end.  We don’t walk away when the lease line is opened, we are with you at each point throughout the process and, as the Director of IT for a Fortune 500 Company noted:

The end of the lease is just as important as the beginning, and working with a lessor such as CoreTech Leasing who understands that is invaluable.  Their exceptional service over the entire lease lifecycle is what sets them apart, builds relationships, and wins our business year after year.

Wherever you are in your procurement process, give the CoreTech team a call.  We’re here to be a resource over the long term and build relationships – not transactions.

To read the full newsletter, click here.

What can best practices in technology and office equipment leasing do for you in 2016?

The New Year brings renewed energy to implement best practices, including setting new goals and targeting achievements. The CoreTech Team continually strives to accomplish more and do better for our clients and business partners. One thing we like to remember here at CoreTech is “the end is just as important as the beginning.”

Lease administration and end-of-lease services can bring exceptional value to your lessor relationships. We spoke with one of our long term, Fortune 1000 clients who agrees – and we thought we’d share what the company’s Director of Computing Services and E-Commerce for their North American division had to say about the advantages of leasing:

“One reason we leverage leasing currently is that the dollars are so favorable for leasing, and this allows us to not extend capital; it’s intelligent financing. That’s one side. The other side is that we update and upgrade our equipment on a regular basis, and leasing is a mechanism that keeps us fresh and current with the technologies.

Leasing provides a path for these new technologies with which our warehouse operations wants to involve themselves. For instance, we’ve nearly completed on a warehouse computer roll out of newly upgraded equipment driven from end users wanting to use specific, entrant technologies like voice command that our old equipment didn’t support. Historically, we would typically lease equipment for 3 years or so, but in some cases such as this, we needed to leap to the new technology and have the new hardware available. Leasing is a strategic tool in these situations.”

And here’s what he said about working with the CoreTech team:

“The CoreTech team consistently delivers exceptional customer service, flexibility throughout the entire lease lifecycle, highly competitive rates, and their end-of-lease administration capabilities are bar none.

In one instance, I had a two year equipment roll-out, several hundred machines at a time, over multiple leases and while this was occurring, interest rates were fluctuating. Having the lease rate factor line up across the board, while complicated on the lessor side, significantly simplifies my life. In this situation and others, CoreTech’s leadership has gone the extra mile to be flexible in terms, getting us the best deal, and assisting our organization’s needs to streamline the lease rate factors. These services exceed industry standards and assist our operations be consistent even during complex implementations.

We’ve worked with other leasing companies and experienced the proverbial nightmare at the end of a lease where the lessor charges $10 for a missing screw. That’s really not a business partnership investing in a long term relationship, and one we do not repeatedly ensue. The relationship doesn’t end with the contract handshake, the end is just as important as the beginning.

The end of the lease is just as important as the beginning, and working with a lessor such as CoreTech Leasing who understands that is invaluable. Their exceptional service over the entire lease lifecycle is what sets them apart, builds relationships, and wins our business year after year.”

We look forward to a great year – bringing best practices to everything that we do. Please contact us with all of your inquiries; we’re here to assist you achieve more in 2016.

To read the full newsletter, click here.

 

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.

Click here to view the newsletter.

 

 

 

 

Fourth Quarter Strategies and Words of Thanks

It’s the fourth quarter with less than two minutes of play time left on the clock. What are the strategic moves your organization can make that will better position you moving into 2016?

This is the time to take a hard look at your organization’s performance over the last 12 months and implement actions today that will have a positive effect in the coming year. When looking at financial and operational performance, it’s important to keep in mind that how businesses pay for capital equipment can also have an impact on a company’s overall financial health. Leasing should be part of your organization’s end-of-year discussions.

Q4 is the perfect time to implement Sale Leasebacks to recapture sunk revenue and employ an asset refresh program. This assists your organization’s overall cash position while implementing a robust asset management program that facilitates your organization for continued, rapid evolution in business needs and security demands from your technology and equipment in 2016, as well as the logical process for assets that have a built-in stated technology life.

Lease Check Up: Procurement and Do’s and Don’ts in Documentation

  • Healthy procurement practice: lease today and pay in 2016. If you do not lease or are in the process of considering it, leasing can be a strategic advantage, both financially as well as from a procurement perspective. With a lease option, you still have time to implement end of the year projects today—and defer payments until 2016.
  • Healthy lease review practice. The end of the year is also a great time to review current or proposed lease contracts. If you are in a long term business relationship with a lessor, it is a best practice to review documentation now for terms and conditions which might negatively affect your Total Cost of Ownership of your leased technology and equipment.  Here are a few of those terms:

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  • Defined interim rent
  • No further charges for any software or soft costs at end of the term
  • Mutually agreeable FMV
  • 60 day notice period
  • Multiple return locations around the country
  • Flexibility – month to month rent for equipment not returned
  • Competitive lease rate factors
  • No additional fees

 

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  • Extended pro-rata rent and interim rent
  • Fair Market Value charged for software
  • FMV determined by lessor
  • Difficult notice provisions – 180 days/150days/notice windows
  • One return location for entire U.S.
  • Late return = Notice cancellation = 6 or 12 month renewal
  • Below market lease rates, unnecessary deposits, automatic rate increasesRestocking, documentation, commitment, UCC filing, transaction and other fees
  • Restocking, documentation, commitment, UCC filing, transaction and other fees

 

Introducing: Multi-Year Service Agreement Lease-Financing 

CoreTech is pleased to announce our capabilities now extend to allow financing for multi-year software and maintenance contracts. This lets your organization take advantage of large discounts and lower overall costs while avoiding large upfront cash outlays.  CoreTech pays your selected partners upfront, on your behalf, and you make monthly payments to CoreTech, similar to a typical equipment lease, thus eliminating cash pressures while securing discounted pricing.

CoreTech has developed this methodology to increase efficiency and, more importantly, reduce your organization’s costs.  Our solution will allow you to clean-up the contract disorder and supply a platform where you can negotiate with your IT providers from a position of influence. Use purchasing power as a means to lower overall costs. In other words, pay upfront and be rewarded with discounts.

Simplifying IT maintenance costs makes for better efficiency and maximizes your available budget. Contact us at info@coretechleasing.com to learn more.

A few words of thanks

The season of thanks is here. Everyone here at CoreTech is thankful for the excellent people we work with on a daily basis, our clients and our vendors, co-workers, event coordinators, association administrators, and the fine people we continue to meet and deal with on a daily basis.   It’s a pleasure to do business with people who continually strive to work towards what is best.

Here’s a small snippet from one of our favorite writers, Harvey MacKay, on the spirit of giving as a business leader:

“Never pass up an opportunity to share what you have. Dedicated leaders understand they have tremendous power to help by setting a solid example and demonstrating the highest standards.”

You can read the full article “The Most Important Things in Life,” here. We hope you enjoy.

Have a great Thanksgiving.

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