Understanding what technology to buy is only half the battle in a decision process. Addressing the options on “How to Buy” can dictate your control and flexibility in the years to come. Knowing your options and understanding the best fit for your business will make a significant difference in the buying process.
The majority of us assume we have the cash or working capital that is the best way to for everything. In the technology realm, this is not always the case.
2. CAPEX LEASING
Financing is one alternative that sometimes gets a bad reputation, but can prove to have big gains for procuring technology. However, when you begin to explore the world of financing, it is easy to get caught in the lowest rate trap. But, the monthly payment breakdown in a monthly payment option can be very palatable for companies trying to be conscientious of their cash flow but sometimes there are hidden things behind the lowest rate. To learn more on how to avoid the rate trap check out this great article on how choosing rate over value hurt one company’s buying power.
3. OPEX LEASING
The third option that you may not be familiar with, is procuring your technology as an operating expense. TAMCO’s Shield, is a termed rental program. It is designed to keep the technology off the balance sheet all together. A program like Shield provides value and flexibility and it is the only one of its kind in the equipment financing industry. Shield offers benefits such as a system replacement guarantee and Act of God coverage. Learn more here about how Shield supported Vizio’s growth.
An informed customer is a powerful customer. Be sure you understand your business needs first then evaluate your options, so you are aware of what will make a perfect fit for your next technology solution purchase. The key is to always put your company in the most control with the greatest flexibility.