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IT FOCUS AREA: Financial
more in Financial

Fortune 1000 Company under Budget Pressure from CFO Turns to Asset Recovery

AUTHOR: John Carcone Rich Bauer
Piggy Bank with Clamp - Budget Pressure

A large Fortune 1000 company was under budget pressure from its chief financial officer (CFO). By using an asset recovery solution, the company could gain access to the right technology at the right time.

 

Challenge

  • Company spending approximately $115,000 per month to lease a storage solution
  • 20 months left on lease
  • New and immediate business requirements for IT
  • Company did not want to place additional capacity to existing storage
 

Solution

  • A partial technology refresh to the existing environment
  • A 44-month lease
  • Remaining equipment on lease terminating on the original date
 

Results

  • New equipment and increased capacity
  • Existing leases terminated
  • Started the new lease with $0 rent, saving two months of budgeted costs
  • Lowered company’s annual budget expenditures on an ongoing basis
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