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“Leasing”. Friend or Foe?

So first let me qualify what I want to talk about which is a subject that has been considered a bit of a contentious issue when deciding how best to finance ICT infrastructures for large public sector projects. The subject is of course Leasing which was considered by some as a bit of an enemy in the past. Leasing has had bad press previously largely due to miss selling scandals that occurred some years ago by less scrupulous companies in the ICT industry.

Leasing however when used wisely can be a highly effective and great business tool to have in your financial armoury. Many public and private sector organisations these days are facing increasingly tight budgets and limited ICT capex funding. Leasing can help bridge the gap required to ensure organisations can procure the best possible ICT solutions in the market as and when the technology is needed. We all know that new technology helps to shape and accelerate an organisations performance but many organisations have traditionally compromised their ICT strategy by value engineering and cost cutting exercises in an effort to reduce capital expenditure. Leasing however as a financial vehicle allows you to make ICT transformational change without compromise in a “pay as you go” way that is flexible, affordable and reactive to all stakeholders within an organisation. Rapid Technologies have always offered tailored lease funding vehicles for large ICT projects, more specifically and often finding additional finance was required when projects could not be funded from a single year’s budget.

One example the Education marketplace we know has been particularly badly hit when you consider that prior to the recent spending cuts that more than 60% of a school’s ICT budget was spent on maintenance contracts and service level agreements. Now more than ever is the time to bring Leasing firmly back to the table as a friend that can potentially help your organisation achieve its future goals and ambitions.

I have listed below some common questions that we get asked when organisations are considering Leasing and Rental schemes. If you have a project in mind and would like some advice and examples of how Leasing can benefit your organisation, then we would be delighted to help share our knowledge and experience with you.

Is your Leasing compliant with current legislation?
All of our leases are fully compliant under IAS 17 (International Accounting Standards), allowing public sector bodies to access safe technology finance.

Leasing is a simple form of financing for public sector bodies to acquire the technology they need while preserving cash for core educational activities.

What equipment can I finance?
All forms of technology hardware and operating software. This includes PCs, laptops, servers, tablets, multi-function devices (MFDs), interactive whiteboards / Large Format Displays, Printing and Consumables, Digital Signage and other telecom infrastructures such as Wi-Fi networking, CCTV and more.

What are my payment options?
Quarterly or annually over 2, 3 or 4 years.

What size can my project be?
Any project from £1,500 to £150,000 can be accommodated by existing frameworks.

Can I work with more than one supplier?
Each lease can accommodate as many suppliers and as many invoices as you wish: one single lease for your entire ICT investment.

We have in the past and continue to work with a number of lease finance houses for Technology Services who specialise in the IT and telecoms sector and have found they have been extremely helpful in funding projects that include the whole wraparound of technology (Hardware & Software!), training and maintenance. They have been great at helping us engage directly with the company and have helped to meet those funding issues head on. In fact through financing vehicles such as an Operating Lease organisations can continue to benefit from new ICT systems without having to use capital expenditure to fund this. We have found it also helps with budgeting and reduction of net debt, freeing cash into the organisation to focus on other core activities.

So whilst leasing has been traditionally the reserve of business we feel that is going to change with more public sector customers considering this as a viable option in this tough financial climate.

So please don’t hesitate and give us a call today to find out how we can help you fund your next ICT project.

Posted By: Colin Birchall - 09-Jun-2016

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