About Econocom Group
Econocom is a major European digital services provider. Econocom is the only player in the digital transformation market that combines both digital and financing expertise.
- 18 countries
- 10,800 employees
- €3.0 bn 2018 revenue
- Over 40 years’ experience
- 7 million digital assets managed
Econocom UK specialises in innovative subscriptions and as a service solutions (aaS), designed specifically to assist our clients and partners in realising digital transformation.
We are expert at providing the financial wraparound for often complex digital projects, thereby matching the cost of the project with the benefits it brings and ensuring partners get paid on time.
The world is changing
We are living in a ‘renter society’, in which consumers subscribe to goods, services and experiences via regular payments, rather than purchasing them outright.
Having transformed consumer markets, these ‘renter society’ models are also becoming increasingly prevalent in the business world.
In B2B, digital decision makers can struggle to gain internal financing support for capital projects, and at the same time, are concerned with the obsolescence risks of ownership.
On the flip side, even businesses that are cash-rich need to justify a return on investment. While at the same time, they need to future-proof their business to compete in an increasingly global market place.
This change from CAPEX to OPEX is changing the ways in which companies update their digital estate.
Why using as-a-service (aaS) subscriptions
Econocom’s aaS solutions empower your business with an unprecedented level of agility, allowing you to operate more proactively than ever before.
You spread the cost over time and remove painful upfront investments, therefore you can allocate your budget to strategic activities. Costs are also predictable, which makes budgeting simple and your life easier!
Our rolling subscription models help you upgrade your digital infrastructure in-line with the latest tech, thus future-proofing its operations and delivering the best possible user experience.
What can be included in your aaS subscriptions?
Econocom builds bespoke subscriptions for any digital asset (smartphones, tablets, laptops, IoT, Wi-Fi, servers etc.), large infrastructure projects (screens, smart buildings, networks etc.), software (CRM, ERP, CMS, PMS etc.), apps and all delivered services and consultancy.
This is a non-exhaustive list! Econocom can finance all the elements of digital & infrastructure projects for you to pay for them over time. You tell what needs to be included in your subscription, which suppliers you want to work with, what payment terms are best and Econocom take care of the rest.
The financial benefits of using Nice Network as-a-service solutions, powered by Econocom
- Cashflow /budget
- Equipment Investment Cost is spread over e.g. 2 /3 /4 /5 years thereby matching costs / returns
- Rentals charged to Op Ex budget (away from Cap Ex)
- Econocom can ‘warehouse’ project costs to the beginning of the next quarter
- Return of pre-invested funds by Econocom ‘Sale and Leaseback’
- Lower Cost
- Typical saving 12.5%: ‘zero % finance’ by econocom: client cost is less than 90% of CapEx
- Typical saving 5.0%: GDPR data wipe & WEEE recycling included
- Typical saving 2%: All equipment is insured by econocom against on-site accident /fire /theft (at our cost)
- Improved Client Financial ratios
- Op Ex: Investment can be off-balance sheet
- ROCE ratio etc. improved
- VAT (if applicable) is spread over lifetime of Agreement
- Rentals charged to P&L, reducing client tax liability
The operational benefits of using Nice Network as-a-service solutions, powered by Econocom
- Your existing IT trusted supplier relationships are not affected
- Econocom works with your existing digital suppliers and is multi-vendor
- Budget is pre-approved by client finance dept
- Econocom request budget approval from client FD before project begins
- Reduced client Admin
- Econocom issues P.O.s / gathers invoices & serial numbers /processes payments
- Refresh cycle = better security = higher availability
- Avoids obsolescence issues: lower break /fix IT incidents
- Better security with supported Op Sys and Apps
- Econocom collects and recycles all equipment (WEEE /GDPR)
- On-site collection by certified ‘two men and a truck’
- WEEE collection /recycling
- GDPR data wipe
- All at our cost saving you approx 5% on end-of-life costs