Technology is no longer a beneficial business tool – it is an essential one. The constant evolution of soft- and hardware technologies allow businesses to grow in more agile and efficient ways at a rate that was impossible a few decades ago.
Moving forward with the fourth industrial revolution, the digitisation of business operations will occur at a more and more rapid speed.
What isn’t always factored in regarding the accelerated pace of technological advances are the crushing costs associated – especially from a business perspective.
Understandably, South African enterprises – both large and small – are moving towards the global trend of operating leases; a much more flexible and cashflow-friendly option.
Rentals, such as IT hardware, give businesses the benefit of technology, but takes away various forms of risk, such as an escalating redundancy rate, vast amounts of unutilised equipment, and pressure on cashflows.
This is why progressive organisations are leveraging the advantages of operating leases, which simultaneously optimises their budgets.
Although technology purchases aren’t an organisation’s largest expense, they are rapidly depreciating assets.
Apart from the initial purchase price, there are various hidden costs such as maintenance and upgrades.
When the equipment reaches its ‘expiration date’, more capital is needed to properly dispose of it in an ethical and environmentally friendly manner.
It simply makes business sense
As the largest independent asset rental company in South Africa, RentWorks understands all these challenges. By providing companies with asset rental solutions for over 20 years, the vast benefits of operating leases have become increasingly evident.
Over the past two decades, customers have highlighted advantages over and above improved cashflow, such as better purchasing power, flexible payment and end-of-term options, competitive insurance rates, and flexible financing.
In essence, RentWorks sees itself as a business enabler – assisting customers to provide a more effective, streamlined operational process to their clients and supply chains.
This is why, over the years, RentWorks’ leasing experts have identified industry shortcomings and developed leading solutions to overcome them, such as:
- Asset Intelligence: Clients can manage and track assets for maximum effectiveness, improved uptime, and reliability.
- REAM: A 24/7 web-based client portal that provides access to rental contracts and detailed asset inventory information, which assists in managing cost allocation and rental management.
- Insurance: Various insurance options to suit client needs – with no payable excess.
- eWaste: An offering that is environmentally friendly, audited and certified, taking the headache out of data sanitation, the refurbishment of assets for re-use, and disposal.
These advantages make it clear why optimising the acquirement and management of assets with a RentWorks rental solution can transform asset procurement strategies into strategic competitive advantages.