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Is it Better to Lease or Buy Your Next Office Equipment?

When it is time for your business to purchase new office equipment such as a copier machine or a colour printer, it becomes imperative to weigh your purchase decision based on your own circumstances. The question you are bound to ask yourself at some point is; should you lease the equipment or buy it?

Not all companies are granted a generous amount of money for their start-up operation fees. In order to make ends meet, every wise business owner must know where to properly allocate the funds — and that is for urgent and more important matters. There are instances when a company decides to buy printer, but lack sufficient funds to buy a new one. Since an office printer isn’t top priority as of the moment, this is where leasing the equipment comes as a convenient course of action.

In order for you to figure out which among buying or leasing office equipment is the right decision for your company, you first have to consider both its pros and cons and see if the advantages outweigh the negative. Keep in mind that not all companies share the same circumstance regarding budget and financial concerns.

Regardless, it is wise for every business in Singapore to fully consider their personal circumstances and decide for themselves what course of action would yield more beneficial results to the company in the long run.

Leasing the equipment

Advantages

    • Leasing is one way to your Singapore office laser printer equipment up-to-date. With office tech equipment like a copier or a computer unit, it is likely to become obsolete after some time. However, if you choose to lease a printer in Singapore for two years, you can choose to lease a newer equipment after the time period is over. You may even make the shift from inkjet to laser printer, depending on your leasing company. In the end, your business can gain improved work efficiency by using new models of office equipment.
    • Acquiring office equipment such as a colour printer and a copier machine through leasing can also enable your business to easily keep up with other competitors. There are a number of businesses in Singapore which is a part of the competition, regardless of what industry your business is focused onto. It is then crucial to regularly keep up with them and the trend of the times.
    • If you run a media company, you don’t necessarily have to be haunted over cashing out a large amount of money in buying a graphic art printer. Through leasing the particular equipment, you will also be able to predict your monthly expenses. This will enable you to budget the company’s finances more effectively since you have a pre-determined monthly line item.

    Disadvantages

    • Leasing may be a convenient approach in getting new office equipment for your business, but it is generally considered more expensive than purchasing the tool. If you decide to lease a laser printer for your business needs, you may end up paying a couple thousand dollars more (even if it’s in a span of years) compared to if you purchase it outright.
    • Even if you choose to stop using your copier or other tech equipment, you will still be required to keep paying for the entire lease period. This is a general rule observed in a lot of leasing companies in Singapore.

    Purchasing the equipment

    Advantages

    • If your business decides to buy printer outright, you will be spared from dealing with various paperwork and financial consultations which is common in leasing an equipment. Making a purchase is as easy as ABC; you head out to get what you need and buy it. This course of action is therefore considered a much easier and hassle-free approach than leasing.
    • There is also no need for you to negotiate when purchasing an equipment. On the other hand, lease terms can get difficult to negotiate regardless of whether you’re buying a copier or a graphic art printer.
    • Another advantage of purchasing tools is that you have access to maintenance and customer support in the event of equipment malfunction. You will be granted freedom to set the maintenance schedule yourself, which you can use to your advantage. For instance, if your business makes use of the copier machine on a regular basis, you can have it in for a routine check-up to ensure the equipment is on its prime condition.

    Disadvantages

    • The initial outlay of the equipment you need may be too much given your company’s intended budget. This spans equipment of all types, such as a new work laptop or an efficient office printer. In order to settle the initial outlay, your business may be forced to go through means like tying up lines of credit or cashing out a hefty amount of money.
    • With that, the funding spent over buying new laser printer units can be used elsewhere instead to help the business grow. Functions like marketing and advertising play a crucial role in helping your company achieve success in the long run.
    • Technology becomes obsolete quickly. Most companies release a new model of the office equipment they sell every other year, with improved specifications and brand new features. This trend is observed primarily in copier units where you can expect to see improved units with a whole set of improved features annually. Therefore, there is a possibility your business may end up stuck with outdated equipment after a period of time.

    Bottom line, it is important for every growing business to weigh which option is right for their company. Between leasing and purchasing, the circumstances may vary among the number of businesses in Singapore — which is why the pros and cons of both options must be taken into account in order to achieve a sound decision in the end.

3 Advantages of Internet Marketing

There are a lot of growing companies today and because of that, there is a tight competition in the market. For several firms, information management as well as business management courses is trapped in the web of unified incompetence.

Modern Woman with a Smartphone and Tablet

Since there is a rivalry in the industry nowadays, this means that many companies are continuously developing what they have in their business in order to survive. Most businesses come and go without further research on the feasibility of the place. In addition, firms, most especially online organizations, are just creating a business site without thinking about the impact of the website to the viewers.

Benefits of Using IM/IT

Today, it is possible to do almost all tasks done by men with the use to the newly-invented devices that we have.  The information management system is very important for business expansion and business improvement. Actually, there are so many benefits one can achieve in using the information management method.  Here are some:

Internet-marketing-white-board

  • Advanced Customer Satisfaction – Using information management is extremely rapid in terms of processing. This is one factor that customers consider. Therefore, the faster the transaction, the more the clients will be satisfied.
  • Intensified Quality and Quantity of Facts – Data plays a vital role in a business. Whenever, the facts are not in good quality, there is a great possibility that it will be rejected. Hence, information should be double checked so avoid negative comments in the future.
  • Efficacy and Flexibility – There no businessman who doesn’t want to own this kind of characteristics. Efficacy and flexibility is very essential to company own as it means that the operation will only cost a small amount.

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