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How You Can Maximize Your Investment in Workplace Technology

Posted on August 22, 2016 by in Business & Strategic Planning, Business Management, Business Systems & Workflow Procedures, General Interest with no comments

The definition of getting the most from your workplace technology is paying as little as possible for your technology and then getting the maximum return on your investment. There are a lot of ways that you can get the most from your technology without paying a lot for it. In order to maximize your technology investment, you need to stay vigilant and think about what you can do to get more for your money. As you get better at maximizing your technology investment, you will find that you are able to run your company at a significantly lower cost over the competition. That will give you a competitive edge that you can use to claim a larger share of the market.



There are several advantages to leasing your technology as opposed to buying it. The first advantage is that leasing payments are spread out over a longer period of time and are much cheaper to do that a large initial purchase. You will find that leasing equipment is much cheaper than paying finances charges on a loan to buy equipment.

Another advantage to leasing equipment is that you save money on maintenance and upgrades. When you lease your equipment, you are not responsible for maintaining your equipment. The only time you would be financially responsible for your equipment is if you damaged the equipment with your own negligence. A leasing company takes care of the ongoing maintenance and repairs. You can also have the leasing company upgrade your equipment to newer models without having to make a massive purchase on your own.


Buying Used

Some companies prefer to buy their equipment, but even those companies can still save money on the process. When you buy refurbished equipment, you are getting used equipment that has been reconditioned by the manufacturer. In many cases, you will have a limited manufacturer’s warranty attached to the equipment as well. When you buy refurbished equipment, you are getting your office equipment at a fraction of the cost of buying the equipment brand new. In many cases, the technology you are buy refurbished is no more than a few months old.

When you are able to save a significant amount of money by buying refurbished equipment, you can put those extra savings on your bottom line. By keeping up with maintenance and repairs on the refurbished equipment, you will find that the equipment is functional well beyond the terms of the financing you used to pay for it. Once the equipment has been paid for, you then have the option of selling it to someone else and using those proceeds to buy your next round of refurbished equipment.



Another way that your company can save money on equipment costs is to use independent contractors that work from home rather than hiring employees. When you hire contractors, then the contractors are responsible for supplying their own equipment at no extra cost to you. Equipment costs, office overhead and office supplies are all the responsibility of the contractor. All you pay for is the results that you need to run your company.

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