Businesses across many different industries rely on equipment to carry out their day-to-day operations and maximize their profits, and many companies simply wouldn’t be able to cope or even continue to exist without the equipment they use each day.
Factories and warehouses, for example, can depend on a wide range of large-scale machines to keep the chains of production moving, while those working in office environments rely on computers and technological innovations to allow workers to operate efficiently and effectively.
Unfortunately, equipment isn’t immune to damage, and there are all kinds of hazards, like storms, leaks, fires, and corrosion, which can cause pieces of equipment to break down.
Whenever this happens, a company starts to suffer. Profits and productivity levels take an immediate hit when pieces of equipment are put out of action, and in the heat of the moment, business owners and managers have to make key decisions about how to solve the problem.
In this kind of situation, you’re usually faced with two major choices: either get the equipment repaired and restored or instead choose to replace the damaged items with new ones. This guide will explore some key reasons why restoration is always a better option than replacement.
One of the benefits of equipment restoration over replacement is the simple and proven fact that it’s almost always cheaper to get equipment restored rather than replaced. Not only that, but getting your equipment restored can help to save you money and provide additional value in other ways too, and since every business is driven by profits, it makes sense to choose whichever method is more affordable.
It’s only logical that repairing and restoring a damaged item will usually cost less than buying a new one, as the repair prices will never usually exceed the actual value of the equipment in question. What’s more, repairs and restorations are usually faster to carry out than full-scale replacements, so your company can get back up and running as soon as possible and start making money once more.
Downtime can be very costly for any business. Statistics show that the cost of IT downtime is over $5,000 per minute, for example, and for other businesses, being without vital equipment can be even more costly. A chemical plant that has suffered fire damage to equipment, for example, maybe completely unable to operate, losing literally millions of dollars until the equipment is back up and running.
This is where another key benefit of restoration comes into play: it’s usually a lot faster to get your gear repaired rather than having to order replacements, get the old equipment moved in, wait for the new gear to arrive, and then install your new equipment in place. Indeed, there are many case studies that show how restoring equipment can be done weeks or even months faster than full-scale replacements.
There’s also the question of environmental concerns when it comes to restoring or replacing equipment. In today’s world, more and more businesses and individuals are thinking about their own impacts on the environment, and we’re increasingly seeing companies across many industries make greater efforts to reduce the amount of waste they produce and minimize their carbon footprints.
This can therefore be a big factor to think about when you’re dealing with damaged equipment. Simply tossing that equipment out and replacing it with new gear is clearly not the most eco-friendly act, but trying to preserve it and make the most of what you have is a lot greener overall. Companies that make green decisions like this also tend to be looked on more favorably by consumers.
Warranties and Insurance
There’s also the matter of both warranty and insurance claims when it comes to damaged equipment. Let’s start by discussing warranties. In most cases, history has shown that while manufacturers don’t typically offer disaster recovery services, they do tend to be more willing to help their customers when a third-party specialist recovery company enters the equation and is able to demonstrate that equipment has been fully restored to the highest standard.
For insurance, it’s important to understand that when your equipment gets damaged and you have to make claims, your premiums will tend to rise. However, if you work with an equipment restoration company, insurance companies will be more willing to extend coverage and continue to provide the protection you need. In short, both insurance providers and manufacturers tend to look favorably on companies that invest in restoration.
It’s clear to see that getting your damaged business equipment restored can offer a lot of benefits. So the next time you’re faced with downtime, don’t make the mistake of assuming that replacement is the best or only option available.