Alliance Equipment Finance specialises in business equipment finance solutions and vendor finance programs.
With the Australian economy on the rebound, businesses can start considering new equipment acquisitions for 2011 as an opportunity to minimise costs since upgraded equipment can actually improve bottom lines.
One often fails to realise the importance of equipment in the day-to-day operations of any business. Conducting an audit of all equipment resources will help the business owner or manager realise the limitations of current equipment and identify new equipment requirements so that the upgrade can be done at an appropriate time.
Benefits of equipment upgrades
Precious time is lost to IT-related failures when computers need to be restarted, workstations changed or alternative equipment installed.
The up-time gained from new IT or imaging equipment can easily be converted into productivity time gained. Not to mention the positive impact new equipment may have on staff morale.
Reduced Maintenance Costs
An IT scenario will best demonstrate the cost of maintaining equipment longer than its useable life.
Let’s assume a file server with a useful life of four years. At the 4-year mark the file server may require maintenance for it to run at its current capacity, which may include upgraded memory or a replacement hard drive.
Complications may come up in terms of sourcing obsolete but compatible components. The replacement of a few components does not guarantee that the life of the server will be extended sufficiently to provide a return on investment for the required maintenance.
Most of the time, updating to new equipment is actually more cost-efficient than replacing components on old equipment.
Many office equipment categories have seen a dramatic shift in their technology over the last five years. These improvements have introduced increased efficiency leading to decreased manufacturing and servicing costs.
Replacing old equipment with new generates cost savings not only from more affordable options available today but also from enhanced productivity delivered by high-performance machines.
Improved staff morale is a key benefit that can be derived by any business upgrading to new equipment. Improved staff morale immediately translates into increased productivity.
The current economy enables businesses to identify gaps within their market that they can capitalise on to grow their business exponentially.
It is important for them to have the right equipment to fuel these expansion opportunities. Proactive planning now in terms of new equipment acquisition will help businesses capitalise on these opportunities.
Hassle-Free Equipment Finance
Once the identification is completed of key equipment that needs to be upgraded, businesses will need to plan the funding of these acquisitions.
Recent press reports have focussed on the difficulties SMEs face in obtaining credit for their businesses. Whilst many of the big banks may be assessing their clients’ exposure, there are alternatives available to businesses in the SME segment in the form of equipment finance specialists.