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Upgrading Business Technology – New vs. Refurbished

Small businesses have limited budgets, especially when it comes to IT. Nevertheless, technology upgrades improve IT performance and allow employees to do more in a shorter time, so they pay for themselves quickly. Make sure your IT assets run smoothly and efficiently by focusing on them.

Upgrading your business technology is seen by many as a cost-versus-reliability choice. Whether you choose new or refurbished depends on this factor.

In the current economic climate, businesses may have to extend IT budgets for equipment while they recover. The goal is to help clients manage their budgets by giving them a choice. Clients have the following options:

  • Leasing new equipment allows you to spread the cost over a longer period.
  • Getting refurbished equipment with new SSDs and parts that have been bench-tested and upgraded to meet our recommended specifications and to be covered by a warranty.
  • Improve performance, and upgrade components to meet our recommended specifications.

Getting our work done without having to wait for the computer to catch up is what most of us hope for with the fastest, most reliable IT equipment. A balance between having the latest equipment and getting value for money is critical for small businesses. HP, Dell, and Lenovo manufacture mass-produced PCs that have been designed for reliability. 

Should You Change Your Tech?

You might think your machine is knackered, but it could last another two or three years.

You should ask these questions before replacing it:

  • Does it affect my business’ productivity?
  • Are repairs almost as expensive as running it?

If your old machine could be made to work effectively with less software and less capability, your third option would be to move the functions it once performed to another machine, keeping the old one for basic functions.

Consider the cost of the technology itself as well as the time and expense of training employees once it’s time to upgrade. Additionally, you should consider how the new technology integrates with your existing software.

What is Refurbished Technology?

The tech that has been refurbished can be defined as goods that have been returned to the manufacturer or vendor for a variety of reasons, including but not limited to the following: 

  • Previously displayed or demonstrated items
  • Purchasers returning unused items
  • Items that are missing parts or have minor defects 
  • Packaging that is damaged

Upon resale, these items are fully tested and if needed, are repaired to be as close as possible to brand new, thus selling them at a fraction of the cost of brand new technology.

The Difference between Refurbished and Used Tech 

Unlike used products, refurbished products are thoroughly tested and proven to work correctly, as opposed to untested and possibly defective used products.

Advantages of Refurbished Tech

Choosing new or refurbished technology for your business is a trade-off between quality and cost. Do you need new technology for your business? Does it make a difference in the productivity of your business compared to buying refurbished equipment? New technology is usually more expensive than its benefits, so how do refurbished electronics do under the same scrutiny?  These are some benefits.

  • Better cash flow

For starters, refurbished tech is much less expensive on a physical level and could save your business a lot of money on that front. In almost new condition, you can purchase products for a fraction of the price of their brand new counterparts, allowing you to invest savings elsewhere in your organization.

In addition to settling debts, paying expenses, and providing a ‘buffer’ against potential financial challenges in the future, this increased positive cash flow is especially crucial for new start-up businesses and small business owners.

  • Cost-saving 

When organizations buy refurbished technologies instead of buying new ones, they can save a lot of money. The cost of brand-new equipment is generally two to three times higher than that of refurbished equipment. Inflationary prices on new equipment are much higher than on remanufactured equipment, so these costs may even be higher now.

  • Longer lifecycle

Ideally, brand-new tech should have a longer lifespan than refurbished tech. This isn’t always the case, but refurbished tech is less likely to last. However, refurbished technology is essentially brought back to a like-new state, and how long new or refurbished technology will last largely depends on how well it is maintained. 

  • No long-term contracts required

Several businesses don’t know what the future will hold with COVID-19 on the horizon. Therefore, most organizations don’t intend to commit long-term to their technology purchases today. With refurbished equipment, companies can find lower prices and shorter contract terms that are more in line with their budgets.

  • Great support

This should be the norm! Refurbished equipment comes with a one-year warranty and is fully repaired and thoroughly tested. You’ll also get these services.

  • Keeping data safe: mitigating the risks associated with GDPR.
  • Transferring data from old laptops to new ones: minimizing service disruption
  • Ensure employees know about any new systems or technology with in-store training and workshops
  • Assistance on-site and remotely, as well as ongoing support: ensuring proactive management of your IT system
  • Using recycled computers, laptops, and IT equipment in your business reduces your carbon footprint

It’s important to note that there is no legal definition of ‘refurbishment’, so buying goods from a trusted and reputable source is critical for your business to benefit from the refurbished tech.

In addition to being efficient, reliable, and potentially saving my company money, what else should I consider when choosing refurbished tech for my business?

  • Environment-friendly choice

Refurbished tech is environmentally friendly! By recycling and reusing devices and components that would otherwise go to landfills, refurbished tech reduces the carbon footprint created by the manufacture and shipping of new products, making it environmentally friendly, efficient, affordable, and dependable.

Because the UK is striving for a net-zero emissions economy, refurbished tech represents a cost-effective and sustainable way for businesses to contribute to a greener future. 

Conclusion

It’s a great way to reduce costs and improve ROI if you buy refurbished equipment, but at the same time, be careful about the vendor you buy from. You need to research the type of quality checks the company performs on its equipment and the kind of warranty it offers. 

Refurbished equipment can offer your business several benefits, but ensure that you choose an IT partner whom you can trust.