How leasing your print hardware can benefit your business

Today’s critical print hardware must be versatile enough to handle the print, copy and scan responsibilities of your entire workforce no matter where they are. While ownership of a quality printer is traditionally a necessary overhead cost, the option to lease is an increasingly popular, cost-effective and flexible alternative.

Understanding the benefits of leasing as well as your enterprise’s unique needs will help you determine whether leasing may be the correct choice for your workforce.

Own or lease – How to determine the best solution for your business

Owning your printer has many advantages. Deductible printer costs provide savings come tax time, and your employees will enjoy the ability to utilise the equipment freely. However, there are some challenges associated with ownership – particularly if your IT, maintenance and repair staff are busy handling other vital work operations when your equipment begins to falter.

Old or out-of-date technology can reduce office productivity over time, leaving your employees to troubleshoot malfunctions or get output from devices that are not suitable.

Leasing your print hardware can ensure office efficiency no longer suffers. In addition to the cost savings associated with this option, the support and technical aid offered by today’s lease agreements ensure qualified technicians are ready to handle any issues or support that arises.

But how do you decide which option is best for your business?

Here are some important considerations when choosing to own a print solution for your business:

The challenges of ownership:

Large upfront investment: Purchasing a printer outright can require a sizable capital expenditure, especially if you’re acquiring many devices at once
Higher total cost of ownership (TCO): The cost of maintaining your device, replenishing supplies and replacing parts and equipment are all your responsibility if you choose to outright purchase your devices
Inconsistency: Purchasing your hardware outright may mean that over time your devices will vary from location to location. This makes it difficult to maintain consistent printing standards across multiple branches (i.e. printing expenses and technology)

The benefits of ownership:

Eliminate outsourcing: Owning your print devices ensures line of sight on deliverables, contrasted with uncertain delivery dates provided by external vendors. You’ll be able to print what you need, without meeting the print quotas of some providers
Proven track record: The best commercial printers provide versatile functionality and features that enable all-in-one solutions for your office needs. Plus, working with established manufacturers ensures you’ll easily be able to source repair parts and new ink/toners when needed
Tax rebates: While leasing provides significant tax incentives, ownership of your devices can provide a more substantial return on your investment come tax time. Equipment, paper, ink and other expenditures are also business expenses that can be written off as essential business expenses

Have you considered leasing your office devices?

Lease your critical print solutions

Leasing your printer and multi-function devices provides unique advantages for your organisation as well. Many of today’s business leaders are adopting this strategy to ensure they remain at the forefront of today’s cutting-edge print technologies. Access to qualified repair and maintenance experts – combined with additional savings and incentives – are powering a shift from ownership to lease considerations for many companies.

Short-term savings

The cost-effectiveness of a leased print solution is best measured in stages. Here are some of the short-term savings you can expect when choosing to lease your critical print hardware.

Comprehensive solutions: One of the greatest advantages to a Managed Print Service (MPS) is access to high-end print devices, plus the services and features that come with it. Essentially, this option eliminates the need to order consumables or worry about repair and maintenance downtime and cost, as all of this is handled for you. Continued access to support ensures your devices are continuously operating to peak performance standards, and the trouble of ordering things like print cartridges is handled immediately, and remotely
Immediate productivity: Leasing allows you to acquire the latest cutting-edge print hardware and software, enabling you to streamline business processes and remain competitive in your market. Ease of adding devices to your fleet if your needs change
Faster ROI: With maintenance, replenishment and more covered by the provider, you can quickly realise the return on your investment and avoid tying up your capital
Improved cash flow: By paying a monthly fee, you’ll offset the upfront cost responsibility of purchasing the expensive array of office equipment necessary to perform daily work tasks

Long-term cost benefits

Printer leasing strategies also enable a variety of long-term savings over the course of the partnership with your service provider. Some of the cost-effective benefits of a long-term solution include:

Lower turnover: Increasingly so, value-driven employees are looking to work for forward-thinking companies. Leasing allows you to acquire greener technologies, retain climate-minded employees and recruit more talent. A recent Gartner HR survey found that nearly a quarter of Australian employees are actively seeking a new job: Can your business insulate itself from turnover by adopting sustainable business practices?
Tax savings: As with printer ownership, most lease agreements are able to be written off as a deductible at the end of the year
Print management: Certain vendors offer centralised print management and analytics that help you drive down waste, optimise consumables, manage and enforce cost-efficient printing habits
Scalable solutions: As your business grows, an MPS allows the versatility to adopt new technologies and the latest hardware. Should you need to increase your print operations, you’ve got the option to pivot without the large upfront costs associated with buying new hardware

Consider leasing your essential print devices.

How to choose your ideal lease

Should you decide that leasing your critical print devices is the best option for your business, here are some tips on how you can isolate the platforms, partner and strategies that match your operational requirements:

Different leasing options and agreements.

Operating lease: Also known as a fair market value lease, this type of agreement stipulates that at the end of the term the customer has the option to purchase the device for fair market value
Finance lease: This type of agreement is best for businesses that want to purchase the machine, but not pay the whole cost upfront. Instead, they pay a (typically higher) monthly rate until the end of the lease, at which point ownership is transferred to them

When it comes to leasing your essential print devices, there are some critical factors to consider. Depending on the individual needs of your business, these options may be the ultimate determinants between a purchase or lease option.

Additional leasing considerations to think about

Length of the lease: Shorter leases (36 months) are good for businesses that make constant use of their machines because the wear and tear will more rapidly necessitate a replacement. Longer leases (48-60 months) will typically have lower monthly payments
Cancellations: Early termination may result in a fee – it’s best to weigh both short-term benefits and long-term needs when deciding whether to buy or lease. Is your organisation going to grow in the next five years? 10? What sustainability initiatives – such as the shift to a paperless office – are going to present themselves on the horizon? Be sure to weigh your options before making an important decision
Flexibility: Your vendor’s selection of print hardware should be a critical differentiator. Look for a provider with the flexibility to meet your needs

Whether you ultimately decide to purchase or lease your critical print devices, we stand beside you, ready to support the strategy that’s best for your business. Our multi-function printers and Managed Print Services (MPS) provide tailor-made solutions designed to increase office productivity and efficiency.

To determine the best strategy for your business needs, contact us for a complimentary print assessment. Our qualified professionals will evaluate your current printing systems, calculate the hidden costs behind it and share how you can cut expenses immediately.

How leasing your print hardware can benefit your business