MFP Copier Blog

This Week in the Copier Industry Ten Years Ago

Second Week of August 2011

Stay turned for tomorrow (Sunday) Premium/VIP video!  I'll be much of my knowledge about leasing programs, when and where they will work along with some other neat talk tracks I've developed over the years.

Enjoy These Great Copier Threads from Ten Year Ago this Week!

Short chat with Brett Apold from Arcoa. What Arcoa does and how they can help office equipment dealers increase revenue with adding a new profit center for ITAD services. In addition we discuss what's required to start providing ITAD services (IT asset disposition)

This Week in the Copier Industry Five Years Ago

Second Week of August 2016

It's getting crazy here in NJ with the Delta variant in N.J.  Today our Governor has ordered that K-12 schools (students and staff) will be required to wear masks at the start of the school season. In addition he has recommended that all citizens wear masks again when indoors (vaccinated or not).  I'm thinking my Monday of next week there will be a mandatory mask mandate again for everyone when they are indoors.  Also heard that many larger financial firms in NYC have now delayed a full return to the office until 2022

Enjoy These Awesome Copier Threads from 5 Years Ago

-=Good Selling=-

DocuWare is SOC 2Type 2 Certified

~ Business is built on trust and this global certification guarantees better data security ~

New Windsor NY, August 5, 2021 – DocuWare, provider of cloud solutions for document management and workflow automation has successfully undergone an audit process and earned its System and Organization Controls (SOC) 2 Type 2 Certification. The audit was conducted by CohnReznick in accordance with the requirements of the American Institute of Certified Public Accountants. SOC 2 Type 2 is considered the gold standard for data security and provides companies with assurance that, as a leading cloud service provider, DocuWare complies with industry security standards.

The audit to verify DocuWare’s eligibility to be upgraded from SOC 2 Type 1 to SOC 2 Type 2 took place from Oct. 1, 2020 to March 31, 2021 and the certification is valid through to the next audit. The auditing process included an in-depth review of company policies and procedures for data handling, tests of the organization’s security controls, employee interviews, a walkthrough of the office and a guided overview of the data center spaces. The audit ensures that service providers securely manage data to protect the interests of the organization and the privacy of clients. For security-conscious businesses such as DocuWare, SOC 2 Type 2 compliance is a necessary requirement internally and externally.

As a leading provider of cloud-based document management software, DocuWare integrates with other third-party technology services and must first assess and address the risks associated with these services. “The SOC 2 Type 2 certification is recognized globally,” says Dr. Michael Berger, DocuWare President. “As a global SaaS technology provider, DocuWare maintains the highest security and compliance standards and we plan to partner with service providers who meet similar certification levels. This gives us and our partners the highest level of security and strengthens our customers trust in us.”

As demand for DocuWare Cloud continues to increase with the expansion of remote and hybrid workforces. Customers demand a secure SaaS provider that follows strict information security policies and procedures based heavily in the Trust Services Principles. With the SOC 2 Type 2 Certification, technology providers who do or are planning to do business with DocuWare, know that its service commitments and system requirements were achieved based on the trust services criteria relevant to security and availability (applicable trust services criteria) set forth in TSP section 100, 2017 Trust Services Criteria for Security, Availability, Processing Integrity, Confidentiality, and Privacy (AICPA, Trust Services Criteria).

DocuWare’s commitment to global security standards and adherence to industry best practices in implementing data privacy controls builds stronger trust amongst industry partners.

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About DocuWare

Headquartered in Germany & the US, DocuWare provides document management and workflow automation solutions in the cloud. DocuWare has helped 15,000 customers across 100 countries simplify their work through digitizing, automating and transforming key processes.

It's common knowledge that I've been struggling with hitting my numbers for the last 8 weeks.  I should have expected a run like this since I had a run of 14 months that were above average.  Instead of saying "Why Me", I'd rather stick to "Why Not Me".

I had five appointments in the field today and that gave me a lot of windshield time and time to think.  Because of the pandemic and now the ensuing Delta variant I have at least 5-6 leases that are in renewal.  At this time I've not found a way to get those clients to upgrade.  In most cases it's easy to show the show the savings on the maintenance side in order to facilitate the  upgrade.  I have three clients that can save thousands yet they still won't pull the trigger and  are in rollover with month to month to month clause.

With most copiers leases there are four options at the end of the lease.

• upgrade
• purchase
• return
• don't return and don't buy, just keep renting on a month to month, or every two months and some leases will auto renew for 12 months

I would tend to think that most copier dealers that use leasing companies have these options in the lease.  The fourth clause can be different from each dealer and or leasing company.

I'm also aware that there are many dealers that have their own leasing companies and they may dictate the end of lease terms differently from what I've seen and what I use in the field.

Car Leases

I just looked up the terms of my car lease and at the end I have three options. One is to purchase the leased vehicle, upgrade to a new lease or return the car and walk away.  There is no rollover clause that I know of, however I have heard that some of the car manufacturers will grant a short term extension of the lease if needed.  Pretty simple stuff right?

Times Like These

We've never endured times like these before in our industry.  I've got five to six leases in rollovers and I can only imagine how many others are in the same boat as me.  It's times like these that make you think about those terms and conditions and if they could be changed to help facilitate upgrades in a more timely manner.

Rollovers

At some point in time these clients will pull the trigger on the upgrade but when you're struggling you tend to think that just maybe there is another option to add or takeway.  Most leases state if you don't exercise your option the lease will renew on a month to month, every two months and then some that have a 12 month rollover.  I've heard that some of the leasing companies will roll a portion of that rental back to the dealer.  So, that's great for the dealer but not so great for the sales person because they don't see any of that revenue. Thus good for the leasing company and somewhat good for the dealer.

What I Would Like to See

I'm not sure if I'll be around when the next pandemic hits, but it would make sense to me that a dealer may want to re-think the the fourth option of the roll over.  Now this idea comes from chats with many clients that have asked me about the end of lease options. When I get to option 4 which is the roll over some of the clients asked me if there is an additional cost for the device once the lease goes into the month to month. The reaction from the client is more like they thought there would be an increase at the end of the term.  Of course there isn't but what if there was?  Why can't the month to month rental double in cost or there is no month to month option and the equipment has to be purchased, upgraded or sent back.

If we had these additional covenants it would be a win for the leasing company (especially if the lease went to rollover at double the cost), win for the dealer and the sales person would have a much better chase of securing the upgrade at the end of the lease.

Again the only reason that this came to mind is my current situation but it does get you thinking and when you compare the end of lease options with a car it seems to be that they are better at protecting the upgrade process.

As my buddy @VinceMcHugh, just my two cents

-=Good Selling=-