Technology Refresh Program

Make Technology a Strategic Asset

Not a drain on your resources.


Obsolescence is not the only concern when it comes to technology; unfortunately, technology is also expensive to own.

With an FMV lease, your firm can completely refresh its technology every three to five years, or at whichever interval makes the most sense for your business. Beyond that — First American absorbs the risk of technology obsolescence. And better yet, your IT department can focus on leveraging newer technology to improve business processes and providing your firm with a strategic edge, rather than focusing their time fixing broken equipment.


 

Stabilize Your IT Budget

Firms that treat technology as capital assets typically evaluate purchases on an annual basis. Some
years, purchases are made; other years, purchases are put off. As a result, peaks and valleys develop in
their IT budgets: This scenario makes IT acquisitions a major decision. Recessions or other financially difficult periods may cause delays. And as the firm’s technology approaches obsolescence, purchasing delays put a strain on the IT department’s resources. Additionally, capital planning is typically done yearly. What happens if a mid-year purchase is required?

The result is that technology budgets become unwieldy at best and unpredictable at worst. Treating the purchase of IT assets as a capital expenditure sets the stage for reactive long-term planning rather than strategically focused long-term planning.

Up-to-Date Technology

The real problem, of course, is that technology changes virtually overnight. This situation is exacerbated by the fact that today’s employees expect access to the latest technology. A regular technology refresh policy is an important component to remaining competitive in today’s marketplace. Clearly, owning IT assets exposes your organization to unpredictable buying patterns and the risk of holding onto equipment past its useful life. By not committing to continuously updated technology, your firm loses a huge competitive advantage and opportunity to stand out from the crowd.

Better Data Security

To make certain that your organization always has the most up-to-date software and security, it is crucial to implement a disciplined technology refresh cycle. A leasing program can help ensure your business stays on track.

Technology-friendly leasing companies like First American can lease the software and other soft costs – as well as the technology equipment and other equipment for security measures. Committing to a leasing cycle can help you stay on track with a regular refresh cycle as well.

We'll Take Care of Your Recycling

As unused equipment sits at your firm, it loses value.  When you establish a disciplined refresh cycle using a First American lease, we will take of recycling your unused technology.  You can rest assured that your equipment is responsibly recycled, and you will receive a certificate of proper destruction for your records. If you require data cleansing services – from a single pass, to the highest certified level of data destruction – we are here to help.

Better yet, with our FA Equity program, you can trade in your outdated equipment for cash toward your new technology.
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