IT finance that’s “a million times better”
Many professional companies that rely upon on IT finance arrangements have grown weary of the often complicated agreements that seem to expensively wind on without end.
They are lost in a maze of complexity because they do not know ‘what good looks like’ in terms of high quality IT finance arrangements that give them control and provide clear information that is easy to navigate and saves both time and money.
The IT finance industry has for too long relied upon customer inertia and many providers have poor reporting systems or are not clear about the end of lease period so that customers continue paying well beyond the original term of the contract.
However new customer-driven solutions are helping the sector to benchmark ‘what good looks like.’
In one example, a large professional services customer which leased more than 4,000 devices across multiple offices and territories at a cost of more than £2.5 million, reduced its leasing costs by more than 50% through a solution that provided the business with an updateable online asset register of the estate that any member of the team could review at any time.
It was also provided with a lease schedule – the transparency offered by the quarterly consolidation of invoices as opposed to customers having to agree hundreds of supplier bills. This was easier to manage for all parties and helped to reduce cost over the period of the lease. Pre and post-lease analysis to highlight what a client was predicted to spend compared to what was actually paid at the end of term, was also a key factor.
All customers receive a 90-day notice of the end of a lease agreement in order for them to make an intelligent decision about end of lease solutions – return, refresh or buy-out.Such an approach has become a game-changer, giving a focus on the whole life-cycle costs of the equipment.