2B — October 10 - 23, 2014 — New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
N ew J ersey
Electronic Office Systems Protect your Co. & clients from “dirty rotten scoundrels” in the office equipment business A lthough 97% of the professionals in the o f f i c e equ i pment enough of this “dark side” to caution the general business community about some of the biggest pitfalls to avoid. est) winds up being $14,813 over 63 months. That’s over a the leasing company.” A likely story told time and again but
plies included. At 3 years you can upgrade this machine to something new and differ- ent.” What happens here is that the remaining 2 years of equipment lease and interest is added to the cost of new equipment balance with new interest charges for the next 5 years. Nothing is forgiven. You wind up paying interest on top of interest. Pitfall #4 ...“And this is your equipment lease pay- ment eachmonth.” What most fail to see in the fine print is an up to 15% yearly pay- ment escalation clause. This oversight winds up turning a $15,000 lease into an $18,800 lease funding to the sales or- ganization while no one was looking! Pitfall #5 …Nice smile, nice suit, and a pretty “Shades of Grey” proposal. If you are go- ing to shop, which we highly recommend you do, shop for what’s important. Initially, phone interview sales repre- sentatives (their responsive- ness? Industry tenure?) and have them pre-sell you a little bit about the advantages of using their company. Then meet with three competent sales reps from quality com- panies (get proof sources). Ex- amples of these sources would be; years in business (10+), awards and industry recogni- tions. Visiting their location provides the best feedback. Email shopping doesn’t work!! Shop product-mainframes, exact features and exact ac- cessories. A “finisher” may be $2,800, $1,800, $1,000 or $500. They are all very different in features and functionality. Compare system’s; apples for apples-pricing, financing terms, maintenance agree- ments and guarantees. The personal face time you put in up front will pay dividends for you in the future. We at Electronic Office Systems welcome the oppor- tunity to help you by analyzing your existing equipment and in-place contracts along with new proposals being offered by your suppliers, pointing out “the good, the bad and the ugly” as we see it. All we require is five minutes of your time to illustrate why we might be a great consideration as your next supplier. Andrew Ritschel is the owner and president of Electronic Office Systems. n
business are smart, dedi- cated, hon- est and hard- working, the r ema i n i n g 3% can cause utter havoc and immense f i n a n c i a l
“We at Electronic Office Systems welcome the opportunity to help you by analyzing your existing equipment and in-place contracts along with new proposals being offered by your suppliers”
Pitfall #1 ...“Just sign here and here Mr.Business Own- er…I’ll fill in the rest of the paperwork (lease term) after I leave your office!” This is a warning sign that the paper- work may never be filled out properly with the proposed and intended 36 month lease term. Miraculously it becomes a 63 month lease. In plain terms, what should have been $10,000 over 36 months at $277 per month (with inter-
50% increase being funded to your supplier!! What’s more, it can happen well under your radar and may not be detected for 37 months. Pitfall #2 ...“Sure, we’ll pay off the remaining balance of your old lease and return your old equipment back to
never completed in actuality by the unreliable and unscru- pulous. The end result leaves your company holding the bag for two leases and unpaid fees. Pitfall #3 …”Mr. Prospect, this is a 5 year lease with 3 years of service and sup-
Andrew Ritschel
heartache that can truly over- shadow the good reputation of our industry. After all, I speak from experience..over 36 years in this business. I’ve seen
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