If you’re the owner/operator of a small-to-medium sized business, then you must always be looking for ways to cut costs, moreso if your business is a highly-specialized and niche business like the auto or toy industry. In today’s business landscape where profit and loss is a regular concern, you might want to add leasing software on top of equipment and office furniture. This is one way of accessing expensive software inexpensively.
Here’s how to find software lease options for your company:
- Vertical Software. This type of software is highly-specialized and market specific developed by only a handful of contracted developers. An example of which is a POS or Point-of-Sale software or a CRM or Customer Relationship Management database software that usually comes with a logo interface. A couple of the most recommended supplier/leasers of vertical software are Crest Capital and Gulfstream Business Capital, Inc.
- Horizontal Software. This type of software can be used by a broad type of market or industry and is therefore available commercially. Examples of these are Windows and Oracle. Well-known and established Silicon Valley companies like Microsoft and IBM offer horizontal software for commercial and leasing. To help you along in making your decision, IBM even offers an online Software Payment Plan calculator to give you a clear picture of how much you will spend monthly.
- Software Equipment Lease. This is inevitable if you want to make sure that your software fits the equipment like a glove to the hand. That’s why third party companies acting as Lessors bundle software and equipment together to avoid equipment misfits. You might also want to look into software upgrades provided in your leasing options to avoid paying more than what is specified in your budget.
- Lease Management Software. This is the best type of software for property and real estate developers. This software features programs for automating tasks, generating billing reports, managing critical information, just to name a few. Companies that specialize in leasing this kind of software include ATM Direct, Visual Lease, Plan Data, iLambs, Virtual Premise, and Enterprise Software Systems.
- Sage Software Solutions. Sometimes there is no need to go to through a number of third party Lessors on your list when there’s a perfectly ideal third party software leasing company who can directly help you out. One such company is Blytheco at blytheco.com who is a major partner of the company, Sage Software Solutions. A number of their Sage packages include HRMS pricelist, Business Works pricelist, Saleslogix CRM, and the Sage MAS 90. Blytheco has offices in Atlanta, Georgia; Columbus and Greenville, South Carolina; Columbus, Ohio; Dallas and Houston, Texas; Los Angeles, California; Minneapolis, Minnesota; Nashville, Tennessee; and Tampa, Florida, among many other locations in the United States.
To find out what software leasing option is right for your business, you have to take into consideration these following factors as well.
- Length of time you plan to pursue the lease.
- The shelf life of the software
- How the software will impact your business, your bottom line, and your customers in a positive way.
- What you plan to do after the lease is up.
- Most importantly, your cash flow or financial forecast for one year – the acceptable timeframe stipulated in the Software Leasing Agreement - to avoid defaulting on your payments.