Demand for leasing of end computing devices on the rise.
During the Movement Control Order (MCO) period, concerns over work mobility and at the same time, cashflow, has created demand for leasing programs of end computing devices.
Short term rentals of preloved or previously used laptops and tablets has been highly sought by businesses requiring their employees to work from home.
As businesses began to plan their next steps, IT asset lifecycle management company Rentalworks finds that its ThinkZero leasing program has become the popular choice.
In the new normal, small and medium scale enterprises (SMEs) are forced to digitalise to survive, and the company is bullish of its prospects in helping them to transform on a cost conscious plan.
As demand for leasing together with bundled services is increasing at a ‘drastic’ pace, Rentalworks is confident of growing its business at 30% year-on-year, potentially powered by SMEs.
With four segments in short and long term leasing, asset lifecycle as well as asset disposal and remarketing services, Rentalworks finds that leasing has become a fundamental tool for businesses as they plan for the new normal.
To help customers navigate through the whole asset life cycle process, Rentalworks offers its mobility device leasing programs with fixed monthly repayments plus cloud-based firewall, flexible tech support and data erasure for device end of life.
The popular ThinkZero is a leasing program exclusively with Lenovo ThinkPad E14, a business class laptop, on a zero interest rate for 36 months.
This comes with support and device replacement all pre-planned for the user, and enables cost savings of 15% to 20% compared with the purchase of the same laptop.
With more than 800,000 SMEs in Malaysia, Rentalworks is putting a lot of emphasis on this sector which is expected to grow much quicker this year, compared with its enterprise and government client base which currently makes up 60% of the business.
Banks and trade associations are seen as the main partners for Rentalworks to reach out to SMEs.
Its partnership with the Association of Chinese Chambers of Commerce and Industry Malaysia, and Vistage, an executive coaching organization for SMEs, helps the company to touch base with SMEs.
Its other partners include main computing vendors such as Lenovo, Dell, Hewlett Packard and Microsoft.
With digitalization and mobility in work, comes the security challenge, whereby security solutions need to move away from the traditional ‘on-premise’ to an ‘on-everywhere’ arrangement.
The cloud-based firewall and data erasure that are offered as bundled services help businesses to remain compliant and secure, despite having the devices away from the office premises.
Rentalworks was founded in 2007 in Malaysia by Puah, and Singapore in 2018; the long term vision is to be a global, environmentally sustainable IT asset management company that provides a true Device as a Service (DaaS) experience from acquisition to recycling.
“For us to achieve that, it is imperative that we play a role in all the life cycle processes via a mixture of organic growth and acquisitions,’’ said Puah.As Rentalworks enjoys good business in the new normal, it is set for greater heights as digitalization and business transformation gathers pace.
Yap Leng Kuen had a respected career as a senior business editor and widely read columnist speaking plainly, for the leading local newspaper. She continues to write Plain Speaking for The Star Online.
I am delighted to share her view points and insights, here.