Why leasing your software is better than buying

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Why Lease Software?

Many actually aren’t aware that they can finance their software. When leasing is mentioned, software leasing often isn’t the first asset that springs to mind. But by leasing your software instead of buying, it can put your business at a significant advantage to your competitors. Along with several other benefits that I will be listing in this blog.

So, what are the benefits?

Boost your cash flow health

To begin with, your cash flow will benefit. As you may know, software can be a costly overhead! Acquiring your software on finance will undoubtedly allow you to keep cash in the business that wouldn’t otherwise be there if you were to purchase your software outright. But, by leasing it, you can invest this money into other areas of your business such as recruitment.

Remain competitive

As mentioned previously, software is forever advancing! So, another substantial benefit to software leasing, is that you will be able to remain competitive in your sector. This is because you will be enabled to upgrade to the latest technologies on a regular basis through a refresh strategy. Whereas, by purchasing upfront, you are putting yourself at a disadvantage with a depreciating asset in your ownership.

Pay as you use

You pay your employees monthly, as they are adding value to your business. Why should any other valuable asset to your business be paid any differently? Software finance gives you the option to pay for your software just like you do for your employees, avoiding any damage to your cash flow.

Alternative funding line

Leasing is also great as an alternative funding line. So no need to use up an existing one!

Price lock your software

Additionally, with a software lease agreement you will lock in the price of the software over your rental term. This meaning that despite any price increases of your software throughout your term, the price will remain the same as it was from when your lease agreement commenced.

Tax benefits

Similar to many other lease agreements, VAT is not required to pay in full and upfront. Instead, it is distributed across your rental period along with the rest of your payment. (And, if your VAT liability is getting the better of your business, VAT loans are a great way to relieve that pressure off of your cash flow. Find out more about VAT loans here.)

Also, did you know that 100% of your lease rental is deductible against your company’s corporation tax?

 

Contact Us

Are you interested in obtaining finance for your software needs? Give us a call on 01494 611 456, alternatively, send an email to [email protected]. Here at WestWon we work alongside a myriad of software suppliers. So we can provide you with a recommendation that suits your business best, we are always happy to help! Visit our software leasing page to find out more about software leasing and use our free software leasing calculator!

Computer Leasing for SME’s

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Here at WestWon, we are experts in providing small businesses with leasing options on all IT equipment including computers. Just like any other business, WestWon has experienced first hand what a simple investment can sometimes turn into. A few years ago, we went through the process of upgrading a number of computers. It was a project that we thought was going to be really simple and cheap.

However…

We started off by speaking to a few computer suppliers and working out what computer manufacturer we should go with. Eventually, quotes began to come in and it came to our attention that it was not going to be as cheap as we thought. Our £400 budget per device had doubled to £800. To make matters worse, we were looking to buy new computers for our operations team, which meant we had to update our marketing personnel. What was going to be a simple and cheap solution started to look to be a £10,000 plus investment!

Furthermore, other employees started to mention that their two-year-old Lenovo laptop were slowing down too. The word went around one of our other offices at the time, meaning we were starting to realise it was going to be a complete IT refresh. After all this, we were looking at a £20,000 investment!

SME’s replacing one computer at a time or a complete IT refresh

Our situation is the same as many SME’s in the UK. What starts off as a modest IT replacement program turns out to be a complete refresh. Our key question at the time was, do we replace a couple of computers every month or just do them all at the same time?

Clearly there are benefits to both options. If you have limited internal IT resources, changing a few every month makes sense. Also, if you’re paying cash, it’s easy to cash flow this out of existing finance. However, it’s often cheaper for an IT company to change all their computers and laptops at the same time. It also stops all issues regarding who gets upgraded first!

One of the key challenges a small business has with regards to buying new computers is how to pay for them. This is where leasing should be at the forefront of your mind, and where WestWon can help.

Leasing enables you to own the equipment without any large initial outlay

We can organise a computer lease for your business. It’s a very quick and simple process as seen below…

  1. You choose the computer manufacture and model
  2. You ask your supplier for a quotation giving the capital cost
  3. We will then provide you with a free no obligation leasing quote
  4. Give us a call when you are ready to proceed
  5. We look to obtain a credit acceptance within the first 24 hours
  6. The agreement is then emailed to you. You can sign and return it to us
  7. Your equipment is ordered and then delivered
  8. Only once you have confirmed the delivery will the monthly payments start

Contact Us

If you would like any more information on computer leasing for SME’s, then please don’t hesitate to get in touch with us. Either give us a call on 01494 611 456 or alternatively email us on [email protected]. You can also see more over on our LinkedIn page.

Computer Equipment Leasing – your questions answered!

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A large number of businesses in the UK are now considering leasing their computer equipment. Several of the benefits include helping your business’ cash flow, planning budgets and being able to afford the latest technology. This is also important for new start-up businesses who are looking to minimise costs and spare their budget. However, even bigger businesses such as schools, hospitals or other workplaces need computer equipment. So what better option is there than to lease!

Here at WestWon, we are experts in providing finance and leasing options within the IT and computer equipment sector. We work together with some key suppliers and manufacturers in the industry. So you know you are being offered the best of the best when we recommend a company to a client! WestWon can also provide the most competitive prices, leading to our view that giving cheap lease rates ensures we do more business together in the future.

Frequently Asked Questions

How quickly can a lease for computers be arranged?

Applications can be accepted within a few hours. This means that once the documents have been signed, your computer equipment is delivered. The agreement is then activated within 2 working days. In this instance, we aim to get this done as soon as possible.

At the end of the lease can I decide to keep the equipment?

In short, yes, you have the option to pay for and own the equipment at the end of the lease. However, you are also given the option to continue leasing from us as well as return the equipment back to us. WestWon provide all these options to keep you, our customers, happy!

Can WestWon recommend a supplier or manufacturer from the sector?

Yes, we work alongside several providers and producers of computer equipment. Therefore, we would be happy to assist. At the same time, we are more than happy to work with a supplier or manufacturer of your choice.

More information

At WestWon, it is imperative that we offer high quality customer service. This is why you can easily lease or finance computer equipment for your business. This includes installation and setup. Nowadays, computer and IT equipment is becoming more and more used, as well as ever-changing. This is why leasing is so important. We can deliver your equipment smoothly and efficiently. There is a high probability that here at WestWon we will be able to provide you with what you are looking for. This can be in terms of our large range of funders and IT equipment finance.

Contact Us

To view other assets we finance then please click here. We have been authorised and are fully licensed by the FCA. Alternatively, to get in touch with a member of our team, please call 01494 611 456 or email us [email protected].

We are proud to be working with a true British engineering success story…

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WestWon are proud to be working with Briggs Automotive Company

Briggs Automotive Company (BAC) (www.bac-mono.com) are a truly unique British engineering success story hand building the world’s first single-seater, road legal supercars: the BAC Mono and BAC Mono R. These supercars look, sound and feel amazing. BAC was founded in 2009 by brothers Neill and Ian Briggs, with the BAC Mono being launched in 2011. Their modest yearly production run of around 40 cars. This means there will always be a waiting list of high-net-worth individuals looking to purchase one.

Using Computer Aided Design

Much of the design work is undertaken using computer aided design (CAD) software, supplied by one of the UK’s largest CAD suppliers. Whilst some engineering companies pay cash upfront for these software licences, many other companies decide to lease and spread the cost over three years. WestWon have arranged a lease for BAC’s CAD software and are proud to have them onboard as a client.

Hear from the directors themselves

Jeremy Hall, CEO of WestWon commented: “All clients are important to us and we work with a wide range of end-user companies across the UK from many different business sectors. We are proud to help fuel investment via leasing facilities into our economy.

“One of our clients is Briggs Automotive Company, who have designed, developed, and now manufacture a unique road-legal supercar that has the look and feel of an F1 racing car.  Over 95% of the suppliers they use are based in the UK. Take a look at their website and you will see how great they look.”

Speaking on behalf of BAC, Ian Briggs added: “Setting up an engineering company from scratch is a capital-intensive project. Funding does come in from numerous sources. One of these finance sources is WestWon, who have arranged the leasing of our CAD licence fees over three years. This helps spread the payments. In effect, we are paying for the software as we use it opposed to tying up valuable capital in fixed assets.”

Contact Us

WestWon leases CAD software to hundreds of architects, civil engineers, engineering and construction companies. It is an important part of our business. Please call us if you are looking to finance CAD software in your company.

Likewise, if you are looking for fun and a great investment, give BAC a call and take a test drive in their single seater sports car. Please do not forget, we can lease these cars to you as well!

Please note, all pictures are the property of Briggs Automotive Company (BAC). WestWon will not receive any introductory commission should you wish to purchase a car.

WestWon Relaunch Systems Finance Division

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We are delighted to announce the relaunch of our WestWon Systems Finance division.

From the outset, WestWon and our previous company, Wyse Leasing, has always been focused on options including financing technology, computer hardware and associated IT equipment. Wyse Leasing grew to be one of the largest IT finance brokers in the UK before being sold to IT funder CHG Meridian in 2009. WestWon have been financing technology ever since, including acquiring the business Technology Leasing Limited in 2020.

Hear from the CEO himself

Talking about the significant changes over the last ten years, WestWon CEO Jeremy Hall explains:

“Years ago, there where tens if not hundreds of PC manufacturers, names such as Time, Evesham, Mesh, Elonex, Gateway and Mustard to name but a few. You then have the bigger companies such as IBM, Dell and HP. Many of these smaller manufacturers have since disappeared, just leaving the big brands.

The route to market has also seen significant changes. We used to have access to a list of 20,000 UK IT suppliers that would sell and install IT equipment. Nowadays, many companies buy their IT kit direct from the manufacturer. Similarly they can buy it via a large reseller such as Softcat or Bytes or even PC World.

Even with all these changes, there is still a massive requirement for IT and software finance in the UK. We saw this in our analysis of last year, many of our biggest leasing deals were for IT and software. Our Systems Finance division will focus on developing existing relationships with our Technology suppliers, offering the most efficient and easy to use processes in the broker market. We’ll be looking to then roll this out to new suppliers who don’t yet have a relationship with WestWon.”

More information on our WestWon Systems Finance division will be released soon. For any queries please give a member of the team a call on 01494 611 456 or email [email protected].

Microsoft Windows 7 Support Ends!

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Microsoft Windows 7 Support Ends! Microsoft have recently announced that they will no longer be providing any product support for Windows 7. They want to invest more time in new technology and opportunities. Windows 7 has been running since 22nd October 2009 and have committed 10 years of support. The official end of support is […]

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S8 Leasing

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Compare Leasing Software to Software as a Service

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Software leasing in the UK We have been leasing computer software since 1989. Software suppliers, or authors as they are sometimes known, used to only offer two payment options to their clients; Pay cash up front or lease. We have worked with hundreds of software companies in the past, from the small niche companies that […]

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Leasing partner for software suppliers and software developers UK

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Software suppliers and software developers UK Is software leasing a better option than a SaaS model? Software suppliers – offering a leasing option and a SaaS option WestWon work with a software supplier who runs a SaaS model. Most of the smaller clients they bring on board they will sell them a monthly subscription. However, […]

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