4 Ways Your Business Can Save Money on Electronic Gadgets
Electronic gadgets have become one of the integral parts that make a modern business run smoothly and efficiently. However, constantly buying and upgrading to the latest tech trends can be very costly for the budget of your business. On the other hand, using outdated gadgets can make you miss out on improved features and significantly slow your business down. It can be very tricky to find the right balance between saving money and being up to date. There luckily are a few ways you can make sure you are doing just that. With that in mind, let’s take a look at 4 ways your business can save money on electronic gadgets.
Recycle old technology
After some time using any technological gadget, there comes a point where it stops fulfilling its functionality and you have to throw it out, most likely never thinking about it again. This type of waste is commonly known as Electronics waste or E-waste and there were approximately 44.7 million metric tons of it generated in 2016 alone. This represents a huge waste of potential as most of it ends up on landfills instead of being recycled and reused. Not only will recycling old tech have a positive impact on the environment, but it will also help you save a decent amount of money.
With that being said, recycling old tech isn’t as simple as recycling plastic or glass as many gadgets tend to include dangerous materials which have to be treated with special care. Luckily, there is a simpler option. Many brands and retailers offer trade-in programmes that allow you to bring in your old devices which are then recycled or properly disposed of in exchange for a discount on new items. The discount you receive will vary on the condition of the items you've brought in, but it surely won’t be negligible especially when you take into account the fact that you are saving the environment.
Buy refurbished items
Refurbished items are items which have been bought new and then returned because of a fault, or because the buyer changed their mind about it. Then, after being repaired and making sure everything is functioning as expected, they are sold to a new buyer at a significantly lower cost. The most popular refurbished items to purchase for both businesses and individuals are phones as you can save a substantial amount of money while still getting a very good product. Best example are Apple refurbished phones that function as if they’re brand new while saving you quite a bit of money. However, you shouldn’t stop at refurbished phones. There are many other types of electronics such as laptops or printers you can save a lot of money on if you choose to go with refurbished items instead of brand new ones.
Buy previous generation devices
Most tech companies roll out new lines of products every year, which come out with extremely high prices and only a slight upgrade when compared with the previous generations. This leaves you with the great opportunity to pick up older generation devices which are still great and will get the job done at a lower price as most companies will offer a discount on older products in order to clear out stocks which makes it a great way to save some extra money.
Use energy saving technologies
One of the key costs associated with electronic gadgets are the power bills they tend to produce. `However, trying to keep these bills under control can prove to be quite a challenge on its own. Fortunately, there are many modern technologies that specialize in saving energy and using it as efficiently as possible.
The most prominent of these are smart power boards which are able to detect when certain devices are being used and when they are in standby mode, thus distributing the energy needed appropriately without compromising the energy needs of other devices.
On top of this, there are many gadgets and devices made specifically with the benefit of lower energy consumption. And, while they may cost a bit extra to purchase, they will surely make up for the extra cost in the amount of power they are going to save you.
When looking to save money on electronic gadgets, it's important to remember that the first function of these devices is actually just that, saving you money. They allow you to speed up the entire work process through quicker communication and the automation of most aspects of the business, as well as allowing you to stay connected and up to date at any time. The final decision you make between saving money and purchasing new gadgets will depend primarily on your needs and preferences. With that being said, as a business, money is your most valuable resource, so why spend it carelessly?
David Webb is a Sydney-based business consultant, marketing analyst and a writer. With a decade of experience in a business sphere and a degree in business management, he continuously informs the public about the latest trends in the industry. He is an Editor in Chief at BizzmarkBlog.