What are The Benefits of Printer Rentals?
Printer rentals are financial arrangements where the use of the device is given to the end user for a fixed monthly payment over a fixed time period. They may also include a monthly service agreement that will cover maintenance and consumables. The primary benefit of printer rentals as opposed to outright purchase is the saving on capital expenditure. This eases cash flow and frees up resources to fund company growth. Many printer rentals require no down payment when businesses are the lessees. They also help manage the costs associated with the company’s document-production needs.
Get More Efficient
Most smaller businesses would benefit from a larger-capacity, more business-oriented copier, printer, or multifunctional device but the capital cost can be relatively high, so they cannot afford the investment. Rentals allow smaller companies to make manageable monthly payments, enabling them to take advantage of leading-edge technology and to optimise their document production and improve workplace efficiency. The terms are usually flexible, and the needs of most organizations can be accommodated.
Avoid Ongoing Capital Expenditure
Office equipment such as copiers, printers, or multifunctional devices are rapidly improving technologies. Printer rentals help you to keep abreast with the latest technological advancements. As technology becomes outdated, the latest equipment is simply acquired at the end of the agreement term. There is the option of continuing to run the old office devices, but as copiers and similar devices age, the maintenance costs as well as total cost of operation rise as parts are discontinued and consumables become scarce over time. Printer rentals usually come with a maintenance or service plan, and these may even cover consumables. They give you guaranteed technical support that keeps your devices running to specification. What’s more, you can upgrade your devices to the latest technology and the lowest operating cost option at the end of the agreement term.
Easy Budgeting with Printer Rentals
Buying outright makes the calculation of the total cost of ownership difficult. Depreciation, currency fluctuations, and other variables such as replacement cycles need to be accounted for. Printer rentals make accurate budgeting for the rental term of the agreement extremely straightforward. Companies offering rental agreements often provide sophisticated asset-tracking systems as part of their offering. These systems are especially valuable to companies who use many devices located at different sites. Asset-tracking systems are often provided to make the management of document-output costs easier and will keep track of a variety of metrics to aid with document production and office efficiency.
Unbeatable Flexibility
Printer rentals allow for a great deal of flexibility. Most agreements allow the option of early upgrades, and this means that the addition of new technology, as it becomes available, is possible. Providing additional capacity in the event of business growth during the rental period is usually easy. They do not erode a business’ existing credit capacity. Normal lines of credit can be kept for business expansion or other operational needs. Photocopiers and other electronic business equipment depreciate and deteriorate over time. Reputable solution providers will provide some form of life-cycle tracking, especially for customers with a large number of devices. Monitoring systems ensure that equipment is upgraded at the optimum time in its lifecycle. On completion of an asset’s cost-effective life (where it reaches the point that service and maintenance costs exceed the cost of those of a new device), it is automatically identified for replacement.
Tax Benefits
Printer rentals are considered “off-balance sheet financing”. Ownership of the asset being rented is retained by the company renting out the equipment. They are, therefore, a fully tax-deductible expense.
Who Qualifies?
It is relatively easy for any creditworthy organization to rent office equipment. The following will need to accompany the application:
- A copy of the company’s registration documents
- A copy of the company’s letterhead
- Proof of the company bank account (usually a bank certified letter)
- Copies of the ID documents of shareholders, directors, or members
- Audited financial statements or three months bank statements
At Raydian, we will be able to provide a range of printer rentals at competitive prices to suit any organization. Contact us today for printer rentals and anything to do with printers, consumables, multifunctional devices, managed print solution, and any office-automation-related equipment.