Introduction

With the increasing demand in the rental industry, the range of products that can be rented is becoming vaster. In the past, IT rental providers were prominent; however, software rentals are now being added to the mix.

Nowadays, purchasing a software license is not considered as cost-effective as renting it. There are two major factors that are driving the surge in renting software – the speed of implementation, and the cost savings aspect.

Organizations that rent software for their usage, often argue that this method can eliminate a number of hidden costs related to purchasing, deploying, maintaining, and customizing the software – not to mention the added cost of hiring a professional to troubleshoot errors.

While some IT experts agree that renting software is better than purchasing it, others argue that purchasing a software license gives additional benefits. This is an ongoing debate that has no real conclusion.

Both renting software and purchasing it have their own pros and cons, but if you are considering software rentals, we have listed down a few reasons why you should go ahead with your decision.

Why is renting software a better option?

During the past year, Software as a Service (SaaS) has become more familiar to companies. If you want your business to stay ahead of the competition, you need to focus on the implementation of new software solutions too. However, this might not always be feasible for you. In that case, you can go for software rentals.

Here are four reasons why renting software is better than purchasing it:

It is cost effective

This is one of the most prominent reasons why businesses are choosing to rent software instead of purchasing a license. When you rent software, you get to know the total cost of leasing, upgrading, and maintaining the software right away. There is no chance of a hidden cost appearing out of nowhere and disrupting your budget. You will have better control of your financing when you choose to rent the software you require.

It is scalable and flexible

When you choose rental software, most lease agreements offer the flexibility to upgrade the software, or they include additional features. This enables scalability, in the sense that you can easily add or remove features from your software, and pay for only those that you require. If you choose to expand your business, you can easily make the necessary changes to your existing agreement, and quickly incorporate those.

It provides easy access to the latest software

Purchasing software requires a lot of research and it is without a doubt, a substantial investment. While buying, sometimes, can prove to be beneficial in the long run financially, you cannot be sure that the software you choose now will be the right solution for you later.

With the constantly evolving technological scenario, you would want to access the latest software at all times. By renting software for your business, you can easily accomplish that.

If you rent software and find out that your requirements are not fulfilled and that you want to upgrade to the latest version, the process becomes easy and cheap.

It provides better maintenance and support

Most rental providers offer maintenance and support services in the rental contract itself. This ensures that you can receive any and all kinds of troubleshooting services if any problems arise. This can reduce your costs of hiring additional personnel to maintain your software. Rental software providers can also provide regular checks to ensure that your software is updated.

Conclusion

As we mentioned before, there is an open debate on whether purchasing software is better than renting it. However, rental software is a good option, if you have just started to manage a workspace, or if you are planning to expand in the near future. Not only is renting a cost-effective method, but it is also a practical one in the long run. If, after reading this, you are considering renting software, you would want to employ the services of the best and most trusted rental software providers in the country, such as Rank Computers.

With Rank Computers, you can rest assured that your software is authentic, and you can count on them for professional set-up, and quality maintenance and support, whenever needed.