With digital technology changing faster than you can say “Alexa,” it can make sense for small businesses owners to choose as-a-Service (aaS) over ownership. After all, why buy expensive hardware and software for it to quickly become outdated when you can just “rent” it and always have the most recent version.
It is maddening to have technology change almost as soon as your purchased equipment is taken out of the box. That’s why aaS has grown so popular. AaS is the on-demand delivery of anything as a service. It’s similar to your phone plan and Netflix account -- where you pay a monthly subscription fee for access to the service. For businesses, it most often includes Software-as-a-Service (SaaS), Platform-as-a-Service (PaaS) and Infrastructure as a Service (IaaS). Thus, AaS enables business owners to access new and powerful technologies on an as-needed basis without a big capital investment.
Let’s face it. Having the right technology can make or break your business. If you are still using a clunky point of sale system you purchased a decade ago, it’s likely holding your business back. Does it break down? Does it accept EMV chip cards? Does it talk with your payroll, marketing and reporting systems? Does it take up too much space on your counter? Does it report to your mobile phone? Don’t let the anxiety of purchasing new equipment derail your growth plans.
AaS makes it affordable to acquire what your business needs, when you need it. Rather than purchasing what you can afford, aaS enables you to acquire the best equipment and applications to power your business. Instead of holding on to outdated technology, you can simply swap old for new equipment at the end of a lease to always have the right technology to meet the growing needs of your business, staff and customers.
Suddenly, replacing your point of sale relic isn’t a pipe dream. You can lease a cloud-based point of sale to make your entrepreneurial life exponentially easier. You don’t have to fork out a big capital investment, and instead pay a predictable monthly charge you can budget for -- preserving your working capital for inventory, payroll, business expansion or unexpected expenses.
With aaS, software and security updates are also rolled out automatically within the cloud. You don’t have to shut your business down for updates to be installed, and always have the most current version. Business owners can completely focus on their prime business objective of growing their business and leave IT issues to dedicated experts available 24/7/365 who are adept in services, such as payments, payroll, point of sale and customer engagement.
Ultimately, you have to decide what’s best for your business: buying or leasing. If your equipment requirements are relatively small, and you have the money – or can get a low-interest loan – then buying can be a good option. But purchasing equipment can take a big bite out of a business’ budget, and often keep the latest technology advancements out of reach. By offloading the up-front cost of new equipment and applications, aaS removes this barrier for cash strapped businesses to better meet their current and growing needs.
Heartland provides entrepreneurs with software-driven technology to manage and grow their business. The company serves more than 400,000 merchants nationwide, delivering trusted solutions for payment, payroll and human resources, point of sale, customer engagement and lending. Heartland is a leading industry advocate of transparency, merchant rights and security. Heartland is a Global Payments Company (NYSE: GPN).