As video conferencing becomes more and more crucial, the decision goes from whether or not to invest to how should we invest? When it comes to buying video conferencing equipment, leasing or buying are the two main options. Which one is the best option? This all depends on each individual companies requirements, bottom line, and preference. Here is a look at some of the pros and cons of each to help you decide what’s best for your organization.
1. Provides more options and increased flexibility since organizations have total control over what they purchase.
2. Endpoints and infrastructure can be customized to meet the organizations exact specifications and requirements.
1. Larger upfront costs associated with purchasing equipment.
2. Equipment can become updated prior to it wearing out.
3. The equipment can be complex and difficult to install and maintain if company does not have the right technical resources.
1. No upfront costs & predictable monthly payments.
2. Equipment is easier to update and replace, giving companies access to the latest and greatest technology.
1. In the long run, leasing is normally much more expensive than purchasing and companies will always have an equipment payment.
2. Leasing is more complex as it requires more paperwork, credit checks, and financial information to procure.
The decision to lease or purchase often comes down to how much flexibility a company needs and how much cash they have at hand for an upfront purchase. Depending on budgets, this comes down to if a company would prefer to purchase the equipment as a cap-ex or op-ex expense. Once you determine how your organization would like to purchase the equipment, the next step will be determining your use cases and how you will be using video conferencing in order to determine what solutions make the most sense for you.
Want to learn more about your leasing options? Contact us to schedule a consultation where we will walk you through your purchasing options as well as help you determine what video conferencing equipment makes the most sense for your organization.