Leased VS Owning Outright

The more money you can save on costs to run your business, the better. However, business decisions are not always just about the bottom line. In some cases, the line between the red and black can be a little blurred. Such is the case when trying to decide between buying or leasing a printer. Printers used for large-scale business applications can be expensive and cost you significant money up front. Printer rental in London is an option to allay those costs, but you may end up paying more in the long run. You should take into account several considerations when deciding between the two.

Startup Costs

The initial cost for buying a printer for your office may be several hundred or thousand dollars. This amount depends on the quality of the equipment you buy. You may need more than one printer. The initial cost of renting printers is significantly less than buying printers outright. You may end up paying an initial security deposit and your first month’s rental fees, but this should leave you with some additional money in the bank that you can use for other purposes.

Technological Changes

As technology continues to change rapidly, it may be necessary to replace your printers fairly often to keep up with those changes. If you buy your printers, replacing them will cost you a significant amount of money each time you do so. This may give you reason to hold off on purchases for a year or two until your old printers become obsolete. If you have a good lease, however, you may be able to upgrade your equipment without any significant change in price and as often as needed. The downside to leasing, in terms of technological upgrades, is that you may not have much choice when it comes to the new equipment you get.

Support

Leasing with the right company can present you with a significant advantage when it comes to getting technical support. Leasing companies generally provide support for the products they lease, and such support may cost you no additional money out of your pocket. Buying a printer, however, will require that you pay for your own repairs and rely on the manufacturer for technical support. This can prove to be expensive if you have to buy additional parts. The cost of printer ink also may add up fairly quickly if you buy, whereas a leasing company may replace ink for you as needed.

Taxes

When it comes to tax deductions, both printing and leasing can help you reduce your tax liability. In general, the Internal Revenue Service will allow you to deduct certain costs associated with running your business. Equipment costs, whether leased or purchased, are usually lumped in with those tax deductions. Generally though, the tax deductions tend to be more significant if you purchase the equipment.

Epson multifunctional printer or Oki multifunctional printer

A Multifunction Printer like the Epson multifunctional printer or the oki multifunctional printer, often referred to as an MFP, is a device that consolidates the functionality of a printer, copier, scanner and/or fax into one machine. Multifunction Printers are a common choice for budget-minded businesses that want to consolidate assets, reduce costs, and improve workflow. If also considering scanners, take a look at our list of multifunction printers, specifically recommended for scanning documents.

Multifunction Printer Evaluation Considerations

To make an informed decision about what multifunction printer is right for you, you need to ask the right questions. Here are the ten things you must know before you buy a multifunction printer.

1. Know your requirements

Understand what you need the multifunction printer to do for you and your end users. Beyond printing and copying, how do you want to use the multifunction printer to help manage documents, reduce paper, simplify workflow, manage forms, etc? How many copy, print, fax, scan, and email jobs will you run each day? How many users will share the device? Will you need it to be color capable? There are a number of requirements to consider.

Samsung showcases a new range of LED Monitors – Samsung LED Monitor Series 9 & Samsung LED Monitor Series 5, featuring the innovative Mobile High-Definition Link (MHL) technology.
Also previewed the Samsung SCX 3405FW Multifunction Mono Laser Printer, exhibiting Smart Printing attributes and the ever-convenient Mobile Print feature.

2. Know the Total Cost of Ownership (TCO) and Cost/Value benefits

When evaluating a multifunction printer, beware of looking only at the cost of the initial hardware. There are a number of other factors to consider, including the cost of supplies. Once ink costs are taken into consideration, inkjet multifunction printers, initially perceived as being low cost, often turn out to have an equivalent or higher TCO than the higher performing laser and solid ink multifunction printers. TCO can also increase significantly for devices that are hard to use and maintain, unreliable, or lack the features and capability to efficiently and effectively produce the results you need.

Your multifunction printer can become a useful asset in managing and controlling costs for printing and imaging, and can also add new capabilities to your organization if you choose wisely. Consider how multifunction printers can address total cost of ownership for printing and imaging assets, better consolidate and improve management of resources across the organization, and improve business process efficiency.

3. Know what third parties have to say

Compare the data on the actual performance and management and support issues promoted on the vendor’s specification sheets with data from independent testing agencies. What are experienced people in the industry saying about the quality and performance of the product you are considering?

4. Know how easy it is to connect to an existing network

Consider how easily the multifunction printer system will integrate with your existing network. Is it easy to deploy? Does it require minimal start-up training? Does it come with software or wizards to guide you through installation, troubleshooting, and upgrading?

5. Know how easy it is to use

Prevent bottlenecks and costly employee down time by finding a multifunction printer that’s easy to operate. Check for intuitive user interfaces, minimal training requirements, and easily accessible online help and documentation. If you do need support, check that the product is backed by manufacturer-provided service and support coverage.