When it comes to buying new technology for either personal needs or your company, factors such as cost and quality are important in order to make the right investment for your long-term goals. Additionally, purchasing the right technology will help you run your company more smoothly and efficiently.
Investing in the right equipment can help you withstand unpredictable economic situations, whereas a poor investment can affect your opportunity to succeed. However, you will need an investment strategy that meets both your short and long-term interests as well as helps you save time, resources, and money. The following tips will assist you in considering crucial aspects when making a technology purchase.
Quality Of The Product
Considering the quality of the product is really important in order to ensure that the products are reliable. As a result, you must always check the equipment you want prior to the initiation of the project. If you notice that the equipment is of poor quality, you shouldn’t invest in it because it may disrupt what you’re trying to accomplish.
You can determine the quality of the product by considering how well it meets your requirements or if it’s equipped with the features that you need. Researching products and reading feedbacks are critical components of determining a product’s quality especially if it is manufactured and sold by a trusted brand. Popular stores such as Currys PC World, Samsung, CeX, and Maplin, to name a few have high-quality electronic products with reasonable costs.
The Costs Of The Product
Modern technology is usually very expensive and consumes a large portion of disposable income. Finding good brands that sell decent electronic products with reasonable pricing is really important and hard to find. However, stores mentioned above of Maplin, Three, Currys PC World, and others do exactly that. They offer special deals and discounted products that you can check out either in their stores or online by browsing Kimbino’s online leaflets.
Check the table below to see some examples of the products’ prices:
| Product | Shop | Price |
| Samsung T7 Portable SSD | Samsung | £86.00 |
| Samsung UE43TU7020KXXU 43” Smart 4K Ultra HD HDR LED TV | Currys PC World | £379.00 |
| Franzis Porsche 911 Boxer Engine Kit | Maplin | £159.99 |
| Xbox One Console 500GB, Black (NoKinect), Discounted | CeX | £180.00 |
Source: Kimbino.com.uk
After-Sale Services
There are some other important factors that also need to be considered besides the price and quality of the product, such as the return policy, service agreement as well as warranty of the product.
Return Policy
A good and clear return policy offers customers assurance and confidence in knowing that the product they are purchasing meets up their standards and is assured to be exactly what it says to be. Because a lot of technology purchase decisions are done in order to prevent expensive complications, the financial consequences will most likely occur until the problem is fixed. So keep in mind to check if the products you’re purchasing have a return policy.
Service Agreement
With technology hardware, there are ongoing new versions to be launched and implemented on a regular basis. The reasons these updates are implemented so often are to;
- Improve overall efficiency,
- Add new features,
- Fix security bugs, etc.
Because of faulty technology equipment, operational losses can be very expensive which is why service agreements are required for IT equipment, especially for business functions.
Warranty Of The Product
A warranty guarantees the product’s capability, efficiency, and consistency. It allows the buyer the right to request that the manufacturer addresses any defects that arise in accordance with the product’s terms and conditions. If there is a problem with the product, the manufacturer can repair it for free as long as the warranty is valid.
Buy or lease?
Leasing allows you to use the product without having to worry about the cost however, you must pay it back on the agreed-upon term with the equipment provider. Although the amount you pay at the end of the deal may be less than the original buying price, this choice may end up costing you more in the long run since you have already been making payments. Whereas, purchasing on the other hand allows you to own the product as soon as the transaction with the company has been made.
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