How to save up to 70% on tech costs with Loop Business

For many businesses, costs are rising significantly, with three quarters hit by rising costs of staff equipment since the pandemic. And that’s considering most organisations already set aside a huge amount of budget for tech costs, including a quarter of UK companies who spend nearly $2,000 per person per year. For a company of 250 people, that’s half a million dollars spent each year on new tech.

Those are some eye-watering numbers.

What’s more, for 1 in 4 businesses we surveyed, employee devices were replaced every 18 months, which contributes to these high costs. A better solution lies in buying refurbished technology, which offers cost benefits, quality guarantees, and greater sustainability.

That’s why we developed Loop Business, a platform that helps companies purchase high-quality refurbished devices. That means no matter the size of your business, you can purchase technology at an accessible price.

Unlocking big savings

Unsurprisingly, half of companies surveyed said cost savings are their primary motivation for purchasing refurbished devices.

These savings can be as much as 70% off the price of buying new, and the money saved can be diverted elsewhere. Small businesses can reinvest these significant savings into growth areas like marketing, training, or new hires, while medium to large-sized enterprises can use refurb savings to scale up operations without bloating IT costs.

To find out just how much money and CO2 your business can save by buying refurbished technology, use our GreenTech savings calculator here.

As well as these upfront savings, there are other potential financial advantages when buying refurbished, such as tax benefits. These benefits will be specific to where your business is based, so it’s best to do some research before you buy, but typically they might include certain deductions or credits.

Maximising value through trade-ins

Another area in which you might be able to save – or even add – money to your budget is through trading in your unused devices. Currently, 62% of companies simply dispose of or let employees keep useable devices, foregoing serious value. Why leave that money on the table?

The best way to know how much you’ll get by trading in your old devices is by getting a valuation of your tech estate, so you know exactly how much your devices are worth. At Alchemy, we can do that for you, giving you a specific valuation based on your tech stack. This can be as much as 30% of your initial purchase value, which you can reclaim when you return your devices. By trading them in, you can reinvest the savings into other parts of your business.

It's a win-win. You get a cash injection while avoiding the environmental impact of discarding still-functional tech. And, if you then buy refurbished devices to replace your old ones, you’ll get reliability and performance equal to brand new models - but at a fraction of the cost.

The refurb advantage

There’s no doubt, then, there are cost advantages to buying refurbished. But if you still have lingering doubts around reliability, security, or quality issues, let us put your mind at rest.

Thanks to our industry-leading stringent testing and data-wipe processes, our second-life devices are up to date and dependable. You can be confident they’ll perform as well as anything fresh off the production line.

And the benefits don’t stop there. Buying refurbished isn’t just smart for your bottom line; it’s a savvy choice for the environment too. Manufacturing new electronics has a large carbon footprint. So, when you choose refreshed tech, you're actively reducing e-waste and contributing to a more sustainable future.

What you can do today

The key factors you should use to convince your business to buy refreshed tech are:

1. Add up the cost savings: Compare the outlay of buying refurbished technology with brand new to paint a clear picture of the money you’re saving.
2. Reinvest the trade-in budget: Highlight the potential cash flow from trade-in programs, which can be reinvested to further boost your tech budget.
3. Maximize the financial benefits: Make sure your company knows about the potential tax advantages and cash from trade-in programs they could receive - these additional advantages can play a big part in boosting budgets.

Get in touch today to discover the purest pre-loved tech fit for your business.