March 23, 2023
2 Additional Ways to Save Network Upgrade Costs
How are you going to save network upgrade costs? As technology continues to advance at a rapid pace, businesses and organizations must keep up with the latest innovations to remain competitive. One of the most significant challenges they face is upgrading their networks, which can be both time-consuming and costly. However, upgrading a network is crucial to ensure that the company can operate efficiently and meet the demands of its customers. When it comes to network upgrades, there are two significant costs to consider: the cost of the new equipment and the cost of disposing of the old equipment. In this article, we’ll discuss the advantages of selling the old equipment before it reaches the end of its life and the tax advantages of donating the equipment. Selling Equipment Before End of Life One of the best ways to offset the cost of a network upgrade is to sell the old equipment before it reaches the end of its life. While it may be tempting to keep the old equipment as a backup or as a spare, doing so can actually end up costing more money in the long run. First, the value of used equipment tends to decrease over time. So, the longer you wait to sell it, the less money you’re likely to get for it. Additionally, there is a significant drop in the value of the equipment once a manufacturer announces that a product has reached end-of-life (EOL). By selling the old equipment before it reaches the end of its life, you can recoup more of the cost of the new equipment. This can help offset the cost of the upgrade, making it more affordable for your organization. Additionally, selling the equipment can free up valuable space in your facility, which can be used for other purposes. So you made the decision to sell your equipment, what are my options to get this done? There are a few and each has its costs in both cost of equipment and labor costs for you and the team making the upgrade:
- Maximize Savings at the Expense of Time – You or your team can take the time to catalog, assess, secure and/or delete all sensitive information on the equipment. Then find a buyer for the equipment and arrange all shipping and handling.
- Maximize Time for Less Savings – If you and your team have your hands full as it is and can not afford the time required, as it can be significant, to do item 1 above, then you should consider using a company like TeleTraders that can do as little or as much as it required in this process. They can come to your site and do a complete analysis of your old equipment, sanitize it for data security and remove the old equipment from the site. Just be sure that the company you choose is licensed, bonded, insured and follows industry guidelines for secure network equipment disposal.