Technology Refresh

Cost-savings and Flexibility Guide Chemical Company’s Long-term Strategy to Pay for Usage, Not Ownership

The Customer

Organization Type:
Chemical Company

Location:
Michigan

Project Scope:
Technology Refresh

First American

  • Highly-customized solutions
  • Competitive rates
  • Operating leases
  • Flexible schedules
  • Dedicated Project Manager

The Challenge: 

As a leading global chemical company, this organization relies heavily on IT systems to conduct business. However, the company’s large scale operations made acquiring and managing technology a challenge. The existing ad-hoc approach proved to be an inefficient use of resources and ultimately took attention away from more strategic business matters. Company executives sought a way to systematize technology deployment across the organization.


Our Solution:

Knowing a simple, one-time solution would not suffice, First American provided a long-term strategy to address the company’s need for regularly updated technology. Assets like laptops, desktops, printers and video conference equipment were financed on a series of fair market value (FMV) leases — creating a structured refresh cycle based on the equipment’s useful life. Not only did this strategy hedge against obsolescence, but paying for the equipment’s usage cost less than paying for ownership. Additionally, financing all of the equipment purchases under a single, consolidated lease program meant the company could avoid the need (and hassles) of multiple leases from multiple vendors.


Business Impact:

The client has successfully used leasing to manage equipment lifecycles for 10 years and counting. Efficient equipment returns and comprehensive lease management tools minimize the administrative burden, while having a dedicated Project Manager to oversee all aspects of the lease simplifies the process even further. Any new equipment can be quickly added with flexible terms to match the growing demands of the business and highly competitive rates keep project costs at bay.

With a solid strategy in place, the company is once again at the forefront of the industry and actively delivering on its promise to drive innovation that improves the quality of life worldwide.

Our services include much more than just technology financing. 

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