Automation is a key element of modern manufacturing, and there are many good reasons why you might want to lease your automation equipment rather than buy it outright. Here are just a few of the benefits of leasing automation equipment:
Leasing automation equipment can be more cost-effective than purchasing, especially if you don't have the upfront capital, your budgeting process better aligns with an operational expense, or if you expect the equipment to become outdated quickly. With leasing, you can spread the cost of the equipment over a longer period of time, which can make it easier to budget for and manage your expenses.
Leasing allows you to upgrade your equipment more easily and frequently, which can be particularly useful if you operate in a rapidly changing industry or if you need to respond quickly to new market trends. Choosing an automation lease simplifies the value analysis to is the lease expense of the automation less than my operational savings, which is primarily your labor savings. This can help you stay competitive and ensure that you always have access to the latest and most advanced technology.
Maintenance and repair
As part of your lease expense, the leasing company is often responsible for maintaining and repairing the equipment, which can save you time and money. This can be especially beneficial if you don't have a dedicated maintenance team or if you don't have the expertise to repair the equipment yourself.
Leasing automation equipment can help you preserve your capital and keep it available for other business expenses or investments. This can be particularly important for small businesses or startups that may not have a lot of extra capital to work with.
Off-balance sheet financing
Leasing automation equipment can allow you to finance your equipment without adding debt to your balance sheet. Thus, leasing equipment allows you to limit the impact of higher interest rates, at a time when the costs of borrowing are high. This can also be beneficial if you want to keep your debt levels low or if you are trying to improve your credit rating.
Many leasing companies offer flexible leasing options that allow you to customize your lease to fit your specific needs. This can include things like the length of the lease, the payment terms, and the option to add or remove equipment as needed.
Overall, leasing automation equipment can be a smart and cost-effective way to access the latest technology and keep your business running smoothly. At Launchpad we offer a variety of automation leasing options for our Digitool solution. Make sure to check out our Digitool solution here and reach out for any additional information.