Leasing equipment can help your company expand without the need for large capital expenditure. While purchasing equipment outright demands one large, upfront cost, equipment leasing can break that amount down into smaller, more manageable payments so that your business can access the equipment you need to generate revenue. Leasing your equipment can also help with equipment asset management, as leasing companies can adapt their extensive knowledge of equipment leasing to help you manage your assets. This allows businesses to generate an accurate asset management plan that can help streamline cash flow and mitigate needless payments, bolstering your bottom line.
Equipment Asset Management And Equipment Leasing
What Is Equipment Asset Management?
It is the ability to plan, acquire, manage, and recycle assets. Essentially, equipment asset management tracks how much assets are costing the company to maximize the value of investments while minimizing costs. To buy equipment requires more than just the initial upfront cost, it also requires maintenance and insurance. The longer a company uses equipment and how extensively it is used will determine the maintenance cost, and tracking this will factor into the overall cost of the equipment. Tracking asset management, including insurance and maintenance costs, gives businesses the power to determine if it is more cost-effective to continue using the current equipment or if upgrading will save more in the long run.
Why Is Equipment Asset Management Important?
- Asset management ensures that a company keeps track of all assets, whether fixed or current. Keeping track of how the assets are being used, any changes made to them, and their location allows for better asset recovery that yields higher returns.
- Regularly checking and recording your assets ensures that they are documented accurately in the financial statements.
- Asset management tracks any risks associated with the equipment.
- Keeping track of assets helps to record any damages, thefts, losses, or any other issues.
How Can Leasing Equipment Help With Equipment Asset Management?
When a company leases its equipment through a leasing partner it allows for more cash flow within the company since there is not an initial capital expense. Through equipment leasing, you will not have to worry about the cost of retiring equipment or the losses you may suffer from selling the equipment once it costs more in maintenance than buying new. When you lease your equipment and your contract comes to an end, you can then lease new equipment that will require less maintenance and that will offer the newest technology to your clients. Equipment leasing is beneficial for asset management, as leasing equipment can enhance financial performance and capital productivity. Equipment leasing companies are extensively familiar with employing asset management strategies and they take that knowledge into their partnership with your company.
Equipment Leasing With First Capital Leasing
To partner with a leasing company that has extensive knowledge of equipment leasing and equipment asset management, contact First Capital Leasing. For over 25 years, First Capital Leasing has provided ethical and unprecedented service and industry-leading solutions for our many clients. We take the time to get to know your business needs and goals and create a personalized leasing plan. First Capital Leasing prioritizes the success of your business and offers you the knowledge and experience of our staff, who have a combined 85 years of experience. To partner with a leasing company that can make your equipment leasing simple and that can help you with equipment asset management, call First Capital Leasing at 1-888-251-3644 or fill out the online contact form.
FAQ
Q: What if I want to lease my equipment after having purchased it?
A: First Capital Leasing Ltd. offers multiple sale-leaseback plans. You sell the equipment you own to us, and we lease it back to you at advantageous rates. This frees up significant working capital that can be invested in expanding your business.
Q: How do I start working with First Capital Leasing?
A: Simply fill out this one-time online contact form to partner with us.
Q: If my company is not based in Calgary or Alberta can I still use First Capital for equipment leasing?
A: Yes, while First Capital is based out of Calgary, our commercial leasing services are not limited to Calgary or Alberta.