Software Leasing: 6 Kinds of Software Can You Lease
Most companies today rely on some sort of software to maintain efficient operations and stay competitive in their industries. But software can be very expensive, both in upfront cost and paying for updates. What if there was a way to “test-drive” software before buying, or perhaps renting it as one would a car? Let’s look at software leasing and some of the different types of software that can be leased.
Software Leasing: 6 Kinds of Software You Can Lease
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1. CRM Software
Customer relationship management (CRM) software is commonly used by companies that have significant customer-facing businesses. In addition to helping manage your customer database, it provides a number of other key functions such as sales and lead organization, reporting and analytics, and streamlining of internal communications.
CRM software is a highly competitive market, and there are multitudes of brands on the market. This competitiveness means software features and functionality are constantly being improved, which makes leasing an attractive option. Leasing gives you the option to test a few options until you find the one that’s right for your business, and it gives you the flexibility to change providers if necessary as your company evolves.
2. Accounting Software
Accounting software such as QuickBooks helps manage your company’s finances and remain compliant with accounting and tax law. While essential, accounting software can be quite expensive, especially in the early stages of company operations. Many companies therefore choose to lease accounting software because it allows them to allocate valuable funds to capital expenses and equipment essential for operations.
Flexible billing is another key advantage, as the need for financial planning can vary across seasons and project timelines. It’s important to note that leasing accounting software can also provide certain tax advantages. Companies like Noreast Capital Corp provide helpful expertise in explaining these advantages.
3. Graphic Design Software
This is an almost entirely digital industry, with various different graphic design software platforms to serve a diverse range of customer demands. One client may need a new logo, which is created with a specific type of software. Another needs help with magazine layout and requires that you work with a different type of software.
Many graphic design firms manage multiple clients and short-term projects at the same time, which can quickly spiral into the need for multiple design platforms at the same time. Because of this, leasing graphic design software is a great way to serve a diverse client and project base without committing a substantial portion of your budget to software that you won’t necessarily use on a constant basis.
4. CAD Software
Commonly used by architects and engineers, CAD software can be tremendously expensive. As is the case with many other types of software, it has an additional per-user license fee that can be difficult to plan and manage for certain companies.
It’s a common dilemma for architecture firms since they regularly shift the number of architects they employ based on the ebb and flow of client and project needs. This number can change dramatically throughout the year, and the last thing a company wants is to be saddled with paying 20 license fees when they’ve just reduced to eight architects. CAD leasing allows such companies to modify user license fees to meet different seasonal requirements.
5. Point of Sale Software
Restaurants, hospitality, retail, and multiple other customer-facing businesses use point-of-sale (POS) software to enable payment transactions, manage inventory, record customer data, and much more. POS software is critical for these businesses, and the phrase “our system is down” can be a painful source of stress for customers and employees alike.
Leasing point of sale software is a smart option as it typically comes with robust support and maintenance. If anything goes wrong, you’ll have immediate access to support teams who can identify and fix the problem as soon as possible to ensure you don’t lose any business.
6. IT Development Software
Information technology is another field that must respond to a wide variety of client needs, and employee numbers can shift throughout the year in accordance with project demands. Versatility is key to a company’s success in this competitive industry, and having access to multiple software platforms is crucial.
Leasing IT development software is a low-cost way to have access to multiple software platforms while also providing versatile installation options. Leasing licenses are typically tied to a user as opposed to a particular machine, meaning you can more easily respond as employee numbers rise and fall throughout the year.
These are just a few examples of software that your company can choose to lease instead of buying. There are multiple reasons for leasing software, from minimizing upfront costs to providing more flexibility as your company evolves. Whatever industry you operate in, it makes sense to explore this option and determine if it may be right for you.