Why Leasing Is A Viable Option For The Public Sector

Public sector organisations across the UK are striving to improve efficiency, yet are continuously being expected to deliver more with less. With ever increasing pressure on budgets and the ongoing need to reduce levels of expenditure, leasing can provide a vital and flexible solution.

Whether operating within education, healthcare, housing or local government, leasing allows public sector organisations to deliver projects now without the restrictions of annual budgets and by spreading the cost over a period of time.

Leasing can deliver real cost savings as it means organisations do not have to pay full price for an asset that may only be used for a few years. For example, IT equipment can become out of date in just three to four years. With a lease agreement, equipment can be added or upgraded without having to repurchase, so you will always have the most up-to-date hardware and software.

The lease itself can be tailored to suit your specific requirements. Agreements can be over an agreed period, for example two years, and repayments can be made monthly, quarterly or annually, by direct debit or invoice, whichever is most convenient.

Leasing is also an attractive from a budgeting standpoint as switching from outright purchase to a lease agreement changes how assets are accounted for. A unique feature of leasing is that it allows the cost to be allocated to revenue as opposed to a capital budget with obvious benefits for the public sector.

From IT hardware to refuse vehicles, a wide range of equipment and assets can be leased as well as entire projects. Other lease options include furniture, photocopiers, security systems and even maintenance agreements. Plus, there is the added benefit that any combination of equipment and technology can be chosen from multiple suppliers for a single lease agreement.

Some of the most popular equipment leased by public sector organisations include:

• IT equipment (e.g. PCs, tablets, servers)
• IT software and licenses
• Audio/visual equipment
• Interactive whiteboards
• Office furniture
• Telephone systems
• Printers and photocopiers
• Projectors
• Laundry equipment
• CCTV and security systems
• Signage
• Minibuses and vehicles
• Waste equipment

For more information on leasing for public sector organisations, download the WestWon Public Sector Solutions Fact Sheet.