What did Irwin Mitchell want to achieve?
Irwin Mitchell (IM) is one of the largest and most respected full-service law firms in the UK, with expertise in everything from personal injury claims and family law to real estate and corporate law.
The firm focuses on working closely with clients and providing them with the best legal advice, guidance and support.
IM needed to replace hundreds of its laptops, used mainly by its client-facing lawyers and back office staff who are often mobile and reliant on the latest technology.
As part of this replacement, which is normally done every three years, IM also had to manage the disposal of old assets and comply with waste of electrical and electronic equipment (WEEE) regulations.
How did Lombard Technology Services help Irwin Mitchell?
LTS provided an innovative solution for IM which enabled the firm to cut the costs of upgrading their equipment, and relieved it of the burden of having to manage the disposal of the assets at the end of their working lives. This included a £280K facility to support the acquisition of new laptops on three year residual value leases. LTS took on a stake in the value of the equipment at the end of the three years, meaning the total rental costs were less than the cost of acquiring the laptops up front.
LTS will also manage the disposal of WEEE compliance process when these assets are replaced in the future, making life that bit easier for IM when they are about to carry out the next upgrade.
How did Irwin Mitchell benefit?
The real benefits are the cost savings – IM expect to cut their laptop replacement expenditure by nine per cent – and the fact that they will now avoid the headache of managing the compliance issues when disposing of this equipment in three years’ time. This burden will now be taken on by LTS, which means IM’s people can focus on more core areas of their business as a leading provider of legal services.
LTS has also offered a bolt-on option offering a similar facility to manage other forms of communications technology across the firm. This would provide the same potential to generate cost savings and, again, would see LTS take on the disposal management of old equipment.
"Working with Lombard Technology Services has been a seamless process. They have delivered an innovative solution with this financing package which reduces our expenditure on assets which are essential to the day to day service we deliver to our clients." says Andrew Merrick, Chief Financial Officer, Irwin Mitchell
Summary:
- Irwin Mitchell generates nine per cent savings on computing upgrade through an initial sale and lease back and ongoing lease solution
- LTS manage the disposal and compliance issues at end of process
- A seamless process for IM means it will reduce costs and improve efficiency
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Please contact Paul White, relationship Director at Lombard Technology Services for more details or to discuss your requirements.
Mobile: 07967 665 844
email: [email protected]
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