Is it time to upgrade your hardware?

server finance

2018 is winding down and many are thinking ahead to the New Year.  A major topic that comes up when thinking ahead are business expenses.  Hardware is one type of business equipment that often needs replacement after a few years.  This is mainly due to improvements in compatible software as well as general slowdown of the hardware.  Smaller businesses often try to get the most mileage possible out of their hardware.  Replacement hardware is usually purchased when hardware breaks, but below you will read about why it is important to upgrade your hardware before this happens.

The disadvantages of outdated hardware

Older hardware may be costing your business money.  As hardware gets older it tends to slow down affecting the productivity of your business.  How many times have you heard “hold on I have to reboot my computer” or “I need to get a hold of the IT Department because my computer is acting up”?   Businesses already face many challenges, why make hardware one of those challenges?  Another disadvantage of outdated hardware is the cost of maintenance.  Hardware is made up of several small components.  As the hardware ages the possibility of one of these components failing increases.  The last disadvantage of using outdated hardware in your business is not being able to run the latest software.  Outdated software is often susceptible to virus attacks which can be very expensive to correct and cause major headaches.

The advantages of upgrading hardware

Many of the advantages are quite obvious if you have been part of a business that does not use current hardware.  The latest hardware uses the most current components which will improve efficiency and decrease downtime.  Additionally, this will reduce frustrations of employees because they will not have to deal with troublesome hardware.  You will also have the ability to run the latest software which also improves efficiency as newer versions of software often have improved features geared at improving efficiency.

Financing your business’ new hardware

We understand that new hardware can be quite costly, but imaging how much money you will be saving by reducing downtime and improving efficiency.  Luckily you have the ability to finance your business’ new hardware.  Providence Capital offers flexible financing options for your hardware which include hardware leasing which will allow you spread out the cost of the hardware and at the end of the lease upgrade to new hardware.  In addition to hardware financing, Providence Capital also offer software leasing solutions.  If you have interest in financing or leasing hardware for your business you may fill out our easy online application at no obligation or call 1-800-341-1288 to speak to one of our hardware finance experts.