Controlling costs and adding more predictability to your business spending is important no matter the market conditions, but in the wake of the economic impact of COVID-19, these principles take on even more meaning. Burroughs’ TransacTec™ Device as a Service (DaaS) solution offers retailers and banks the best of both worlds: industry-leading devices leased to your business paired with expert service, all wrapped up in a consistent, all-inclusive price that can easily scale with your business.
In addition to offering your customers the latest features and your business great visibility into your payment and transaction ecosystem, leveraging TransacTec™ also means turning what would be a fixed, long-term capital expense (CapEx) into a more flexible operating expense (OpEx).
So what does that mean for your payment and transaction devices and, more importantly, your bottom line?
What is TransacTec™ Device as a Service?
Gartner shows that 25 percent of the average IT budget is spent on capital, including new investments and ongoing maintenance and servicing. In addition to offering you industry-leading devices backed by 24/7 expert service, TransacTec™ wraps up everything into a turnkey offering with a predictable single leasing fee each month based only on the devices and services you use, helping your company rein in those variable capital expenditures. You get the peace of mind, plus best-in-class middleware, analytical software, and device software for a full ecosystem of products and services through our existing and growing partnerships with leading industry providers.
In other words, in addition to having access to the latest payment and transaction technologies, your business can eliminate those hidden costs of ownership and maintenance. All ongoing and proactive service is part of the platform, including required security and compliance upgrades and access to new features that can be tuned to provide your employees and customers with a more personalized experience.
How TransacTec™ Device as a Service Can Improve Your Bottom Line
Leveraging Burroughs as your integrated end-to-end solutions provider and adopting TransacTec™ also means big benefits for your bottom line - you can be smarter with your cash flow, spending forecasts, and projected CapEx.
Traditionally, businesses buy their payment and transaction devices, incurring a CapEx and using money, collateral, or debt to purchase it or invest in upgrading an existing one. In other words, buying a device is a longer-term, and often more expensive, total cost of ownership. These capital investments are recorded as assets on your balance sheet and are depreciated at fixed intervals over their useful life, or until they are sold.
On the other hand, with TransacTec™, leasing your industry-leading payment and transaction devices will offer your business lower upfront costs as well as the ability to record the cost as an OpEx, and expense required for day-to-day functioning of a business. This means that as market conditions and business needs change, which and how many devices your company needs can easily scale up or down on a month-by-month basis, without locking you into a long-term cost or contract.
Because TransacTec™ devices are backed by a nationwide network of experienced service technicians, Remote Managed Services, and a 24/7 support center, your business will have peace of mind knowing that in the event of theft, error, or disaster, Burroughs will be there.
Benefit from Burroughs’ Expertise
Partnering with Burroughs via the TransacTec™ program is a clear solution for any company looking to turn its CapEx into OpEx, keep less cash locked up in assets, and improve its service delivery while maintaining access to industry-leading devices.
Burroughs is an OEM-agnostic provider that can manage all of your payment and transaction devices on a single platform, for more streamlined insights and support.
For more information on TransacTec™ and how Burroughs can help reduce capital expenditures for your business, contact us today.