Ditch the Mobile Tech Fund

Jul 25, 2020|Technology

Ditch the Mobile Tech Fund and free your business...‍

Tech Funds are common place for businesses in the UK. They are effectively "off balance sheet loans" that are built up over the duration of the mobile phone contract which includes the device and the airtime. Tech funds are restrictive to businesses and today there are alternatives to procuring your mobile hardware and airtime

Below we'll explain why the Tech Fund has had it's day...


OVERSPENDING

With the Tech Fund model, you are signed into a contract where you are given a "free" device as part of the deal, but in reality we all know there's no such thing as free. The networks use this model to lock you in for as long as they possibly can, usually 24 months for Business Contracts where they accrue the sum of the fund via your airtime bill. Take a look at our example below to see how overspending takes place...

  • ‍From O2 Website on 24/07/2020 - iPhone ProMax 256Gb with Unlimited Data, Calls, and Texts on O2 (24 Month Contract) = £75.50 ex. VAT per Month - TOTAL CONTRACT COST - £1,812.00 ex. VAT
  • ‍Qubiti DaaS Example - iPhone ProMax 256Gb - £1,299.00 on a DaaS plan (Device as a Subscription) = £38.97 ex. VAT per Month - Unlimited Data, Calls, and Texts on O2 (30 Day SIMO) = £20 ex. VAT per Month - TOTAL CONTRACT COST - £1,415.28 ex. VAT

‍Our DaaS plans allow you to subscribe to your hardware, and hand it back at the end of the term or even continue if you like. Our partners have worked hard to secure the best residual values for devices, meaning we are able to pass on the savings to our customers. DaaS, is bringing a consumer like purchasing experience into the business world, and we believe it's the future of ICT Procurement. We already subscribe to Office 365, Netflix, Amazon, so why not your mobile device?


‍LIMITED TRANSPARENCY & FLEXIBILITY

Tech Funds generally mean that you can only purchase your devices from the network, meaning they are locked to that network for the duration of the contract, it's how the networks make you 'Sticky', in industry speak. Usually when entering a contract it is difficult to see the true cost of the tariff and the handset. With the fact that your devices are locked to that network, then you can't swap networks if you need to , for example if you have an employee who moves house and their currently on Vodafone, but moving means they have poor coverage in that area you are unable to swap them to say O2 or EE.


NEGATIVE IMPACT ON YOUR MOBILITY STRATEGY

Businesses are generally holding on to their devices for longer, and their requirements have changed. No longer is a mobile just for making calls, in fact it's the least used feature of a mobile device with 8 out of every 10 minutes spent on a device being used to access digital apps. Mobility is a business wide strategy that encompasses many aspects including, unified comms, email, digital applications, lone worker solutions, mobile device management and anything else businesses require, meaning the way in which we procure our mobiles has changed drastically.


Mobility is changing...

We're in no doubt that the requirements for business mobiles have changed in recent years, and recent events are seeing these needs change even further. People are more mobile, and are using more data, making more calls, and generally connecting in more ways than we've seen. We have been working closely with customers new and existing to help educate them in better ways to procure and meet their mobile requirements. Recently we have provided savings from 20 to 50% to our customers. along with greater flexibility and hardware choices. The benefits of working with us are -

  • ‍Flexible Contracts from 30 days to 60 months
  • Leasing and DaaS (Device as a Subscription) options
  • Options on all UK Networks, and 50 Global Networks
  • Unlocked Devices
  • Full Range of Recycled Devices
  • Dedicated and named Account Manager
  • Staff Discounts
  • Lease or Subscribe your entire ICT Estate

 

If you'd like more info on how we are helping businesses across the UK save money, then please call us on 01387 442919 or email us on hello@qubiti.co.uk