The Rent Vs. Buy conversation (I won’t say argument although I have seen people get heated on the subject) comes up in different markets: housing, office space, software and even wedding apparel. I am going to dive into the pros and cons of each for software so when you make the decision to implement a solution you know which option is best for you.
Let’s take a first look at renting software. If you are a startup and want to lower your upfront fees, renting may be a great option for you. You won’t have the initial large investment and the lower fees may be more affordable to your business budget.
You also have the peace of mind of knowing that all upgrades and support are included in the monthly fee so there isn’t another bill coming later (that is for Envisioneer anyway, this may change for other companies).
For tax purposes, rental software is considered an operating expense and can be deducted in your yearly taxes, consult with your tax professional for all the information.
Now the downfalls, over the long term you will be paying more when renting and if you stop paying you have nothing. It is a nontransferable license. So, if you are going to be using the software for a long period of time you may want to outright purchase the software.
Outright software purchases are great for companies that know they will be using it for a long period of time. The long-term costs, including yearly upgrades, are less over time if you outright purchase. You also have an asset that you can sell if you no longer need it one day. If you stay on the latest version you have full support.
Either way, Envisioneer is the same application in a rental or an outright purchase scenario. Whichever fits your personal business needs is right for you, it is your choice and we are happy to offer whichever option is best for you.