3 Ways to Spread the Cost of your Communications
Communications infrastructure is essential in order to run your business effectively. However, it can prove to be a necessity that turns out to be extremely costly, particularly when you are just starting up. If you have limited capital to invest in expensive equipment, then setting up your office can be a challenge. In this article, we consider three ways in which you can spread the cost of your communications, so you don’t have to compromise on vital equipment and services.
Finance
Sometimes, paying for everything in one go can compromise your budget too much. Communications infrastructure and equipment is expensive and many businesses simply don’t have the capital to fund the initial investment. However, many providers offer telephone system finance plans on the products and services they offer. This allows you to obtain the technology that your business needs and spread the cost so that you pay in more affordable monthly instalments. There are many options available, with repayment periods typically ranging between one and seven years. Then, once you have completed your repayments you will enjoy full ownership of the equipment. Paying in regular fixed monthly instalments makes it much easier to plan your finances. You can shop around for the best deals and find a finance plan that suits your needs and your budget.
Leasing
Leasing offers similar benefits to finance, in that you will pay regular fixed monthly instalments for your equipment. This eliminates the need for an initial capital outlay and makes for straightforward budget planning. However, leasing differs from finance in that you will never technically own the equipment you lease. Despite this, leasing brings many unique benefits of its own. Although the terms of a lease will vary amongst providers, it is likely that you will benefit from regular equipment upgrades. This means that you can enjoy the latest technology every few years, without the cost of buying it outright. You may also be able to benefit from ongoing support services, depending on the provider you choose.
There are also potential accounting advantages to leasing your equipment. Your lease payments could be considered operating expenses, making your payments tax-deductible as they are classed as a business expense. This, of course, would be subject to approval from an auditor, but could work out financially advantageous. Leasing is probably one of the most cost-effective ways to obtain all of the equipment you need on a budget.
Hosted solutions
Hosted telephony is becoming an increasingly popular solution amongst businesses. The way it works is simple: all of the equipment, other than the handsets you need, is stored in your provider’s data centre. From there, they take care of all the technical side of things including ongoing maintenance and support tasks. For this service, you won’t have the initial capital outlay for expensive equipment as it’s included in the cost. Instead, you will pay a fixed monthly charge for the service. This can work out as an extremely cost-effective option, as you won’t have the additional expense of maintenance and support services. You will also benefit from regular system updates, so your equipment always runs at peak performance.
Some providers also offer hosted desktops, which allow you to take advantage of the latest cloud computing technology. With this service, you can save money on the maintenance of equipment, IT support and insurance. And, with servers replaced every few years, you will always be running on the latest equipment.
In conclusion, there are many options out there which ensure that your business does not have to do without high-quality communications equipment. Finance, leasing and hosting all have their own merits. It simply depends which option is best suited to the particular needs of your business. If owning your own equipment is important to you then financing may be the best option. If you are keen to benefit from regular upgrades then leasing could be a better option. And, if you like the idea of being free from technical constraints or have limited space to house equipment, then a hosted solution is the ideal option.