The gaming sector has seen rapid growth in recent years, and technology is one of the key drivers of this growth. Video games have evolved a long way from hungry hardware such as consoles and PC’s which require consumers to continuously purchase updated systems as a result of new tv technologies. Those within the industry are tasked with pushing the boundaries to meet the increasing expectations of gamers.
Cloud gaming is quickly becoming an important trend within the world of gaming technology as they look to offer an enhanced user experience and exceed the expectations of their consumers. Furthermore, it allows consumers to access and play the most up to date games without needing to frequently purchase the latest hardware. Virtual Reality (VR), Augmented Reality (AR) are two more areas which are showing consistent growth and expected to become even more popular in time. VR provides the user with a fully immersive experience and those from a variety of different fields are looking to use it to their benefit and none more than the gaming industry. VR headsets are becoming more affordable and the infusion of new technology has contributed to the higher standards of digital content. When you combine amazing graphics with the immersive experience of VR, you can attract and retain more gamers. AR is an interactive experience combining real life and computer generated content. Pokemon Go is a great example of AR in action and it highlights the many unique opportunities available to those within the gaming industry. However, one of the many challenges for those in this industry is the frequency of new equipment and constantly needing to keep it up to date.
Clients have an expectation that they will have access to the latest gaming equipment and the reputation of a company can suffer if anything in it is perceived to be tired or out of date. One way a company can finance constant updating or expansion is through leasing. An equipment lease is an agreement with a financial organisation such as GRENKE where the business has the use of the equipment while making set monthly repayments for specific terms. A major benefit of leasing is that it helps manage your cashflow and conserve working capital. You’ll have predictable monthly expenses and you don’t have to pay anything up front which is really important for your business. What’s more, you’ll be able to keep up with competition without exhausting all your financial resources. It’s important to understand that when you lease equipment, you have the use of it for the term of the lease but you don’t own it outright. There may be an option to purchase at the end of the lease. Also, you will pay interest so the asset will cost more than if you purchased it outright.
Talk to GRENKE today!
As one of the leading financial service providers in the Irish market, GRENKE’s slogan is ‘Fast, Forward, Finance’. GRENKE offers entrepreneurs fast and flexible financial solutions through a range of services including leasing and invoice finance. We match the perfect financial solution to your unique business needs, from small businesses to large enterprises.
Over the last 40 years, GRENKE has provided leasing to numerous styles of businesses and organisations; sole traders, partnerships, public and private limited companies, associations and organisations, medical, health, and educational providers, public hospitals, semi-state institutions, Government bodies and so much more.
Our expertise and strong market position are no coincidence. If you are a business owner looking for financial solutions in Ireland or advice on fast and flexible financing, talk to a GRENKE Account Manager today.