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Technology Finance Lease Solutions for Canadian Business
Information on technology financing needs around the acquisition of computers, software, hardware, and cloud solutions in Canada
Cloud technology is of course the newest kid on the block. It’s another new concept to comprehend, essentially the use of computing as resources, both hardware, and software, over a network. That network typically is of course the internet.
For the first time your firm actually is using computing power and doesn't necessarily know where those resources might be located. Naturally as in all aspects of technology and tech finance it’s a case of you using the hardware and software, not necessarily caring about where it is and who is managing or running it.
Naturally the benefits of financing and leasing cloud services are quite clear - lower costs, ease of use, and your ability to add on hardware and software when you need it.
Although cloud computing and financing are relatively new it's surprising to see statistics that indicate at least 1/3 of all businesses intend to finance their cloud services.
It's certainly a different way to structure a transaction. We've always preached the creativity and benefits of hardware, service, and software leasing and it just seems that creativity is again an understatement when you utilize this form of financing. It is clearly a new business niche in Canadian business financing .
We find some a bit of irony in the concept of IT Cloud financing. What is that irony? Simply that for those of use old enough to remember it seems like ' timesharing ' all over again! except we seemed to always know the address of our timeshare firm, and we could actually drive there and see the hardware and software!
Business owners, chief information officers and finance managers are again looking to leasing as a methodology to gain benefits and limit the risk involve in technology purchases of hardware and software.
Naturally there are risk factors in any aspect of business and Canadian leasing companies who participate in cloud financing
are probably struggling to determine what that level of risk is. We would think overall credit quality is key in this new form of financing. It's difficult to structure payments and rates around IT CLOUD finance when in essence the service you are utilizing is ' metered ‘, similar to electricity we would say.
It's the ability of your lessor or computer company to measure what you are using and where that hardware and software computing power is coming from that is key. And if you don’t pay, there is certainly no ability to ' repossess' assets, that’s for sure.
Consider leveraging both the power of the internet and leasing as a method to maximize your software and hardware needs. IT Cloud finance allows you to share resources, and therefore lower your cost.
Your benefits include lower cost of ownership, the concept of paying for what you only use, and the ability, as always with lease finance, to add on to what you might need, easily... and faster.
Speak to a trusted, credible an experienced Canadian business financing advisor who can work with you to meet your IT Cloud hardware and software needs.
7 Park Avenue Financial :
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8
Business financing for Canadian Firms , specializing in working capital, cash flow, asset based financing , Equipment Leasing , franchise finance and Cdn. Tax Credit Finance . Founded 2004 - Completed in excess of 100 Million $ of financing for Canadian corporations .
Stan has had a successful career with some of the world’s largest and most successful corporations.
Prior to founding 7 Park Avenue Financial in 2004 his employers over the last 25 years were, ASHLAND OIL, ( 1977-1980) DIGITAL EQUIPMENT CORPORATION, ( 1980-1990) ) CABLE & WIRELESS PLC,( 1991 -1993) ) AND HEWLETT PACKARD ( 1994-2004 ) He is an expert in Canadian Business Financing.
Stan has over 40 years of business and finance executive experience. He has been recognized as a credit/financial executive for three of the largest technology companies in the world; Hewlett-Packard, Digital Equipment and Cable & Wireless. Stan has had in depth, hands on experience in assessing and evaluating thousands of companies that are seeking financing and expansion. He has been instrumental in helping many companies progress through every phase of financing, mergers & acquisitions, sales and marketing and human resources. Stan has worked with startups and public corporations and has many times established the financial wherewithal of organizations before approving millions of dollars of financing facilities and instruments on behalf of his employers.
Stan Prokop
