10 Opportunities for Equipment Leasing Cost Savings
From Sourcing Capital to the End of Term, Learn the Ways to Reduce Your Leasing Expenses
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Hard Dollar Cost Savings:
- Competitively Sourcing New Leases
- Minimizing Interim Rent Payments
- Consolidating Smaller Transactions with Lease Lines
- Optimizing End-of-Term Buyouts and Renewals
- Reducing Unplanned Evergreen Fees
Make Employees More Productive:
- Simplifying Lease versus Buy Analysis
- Automating RFP Generation
- Standardizing Lease Contracts
- Tracking Asset Location Changes
Equipment Leasing Cost Savings
At most companies, the processes, systems, and controls for IT, fleet, and equipment leases have been neglected, with little investment in programs or people to manage these assets. As a result, many companies have highly inefficient equipment leasing programs that are creating an unnecessary performance drag on the organization.
The good news for companies facing this situation is that there may be an opportunity to realize seven-figure cost savings in the next 12 to 18 months. Case studies have demonstrated that by implementing best practices for Equipment Lease Management, Fortune 500 companies can realize savings of 16 to 18 percent of their equipment lease portfolio costs.
These savings are typically achieved using a combination of two strategies: Equipment Lease Management software and leasing Centers of Excellence.
Significant cost savings can be achieved using specialized software to automate the analysis, sourcing, tracking, and administration of equipment leases across the enterprise. Just as you have a real estate lease administration system to manage your office buildings, factories, and warehouses, you can deploy an Equipment Lease Management application to manage your leased IT, fleet, and other equipment assets. From the initial lease versus buy analysis and equipment financing to end-of-term buyouts or equipment returns, these software applications automate many of the time-consuming, repetitive procedures associated with leasing.