When we work with our customers to find the optimal solution for their needs, our work is not complete…not by a long shot. The next step in the process is helping our customers find the best why to acquire the solution financially. Cash or credit is often the first thought for many people but there are other options that should be considered.
Many organizations utilize leasing for their technology needs. Often our customers’ IT teams don’t even know that they are leasing but when we start to work with the purchasing team, we learn that they often acquire technology this way. Not all leasing is the same, on a very basic level we can lease with a Fair Market Value (FMV) lease or a Dollar Buyout lease. They both have benefits and drawbacks. For example, with a FMV lease, an organization’s monthly expense will be lower so they will be able to save their cash for other investments that they need or should make. On the other hand, with a Dollar Buyout lease, the organization will own the solution at the end of the term.
A third way that we are helping our customers acquire solutions is through renting hardware, software, and services. Occasionally a customer only needs a solution for a couple of months so it advantageous for them to rent the solution for a shorter period of time. This has been getting a lot more interest of late because of the rise of cloud solutions. If you think of it, two of the reasons why organizations are using the cloud are because it allows for elasticity and flexible cost models; the less a customer uses, the less the cost of the cloud and vice versa. With renting, we can accomplish the goal to satisfy the “bursts” that IT Departments require and the lower costs that purchasing departments like.
I often say to the team here at Sanity Solutions, “Make no mistake, we are not in the IT business, we are in the SOLUTIONS business,” and financial considerations are part of the puzzle and delivering a legendary customer experience. For more information on how Sanity Solutions can help you navigate solutions purchasing, contact us at email@example.com.