End of Lease – The Letter of Intent

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Part One: The Letter of Intent

A ‘Letter of Intent’ is the written declaration that you no longer wish to continue with your current lease agreement.

It could be that your machine is no longer compatible with your current software or that you need a faster, more efficient machine or it could even be that you have the opportunity to save money with a machine that is better suited for your needs. Whatever the reason you no longer wish to continue with your lease it is important that you create this letter in order to let the leasing company know that you are taking steps to return the machine.

Every leasing company requires this letter to be submitted by mail or by email during a very specific time frame. Your LOI window could be anywhere from 30 days before the end of lease date to anywhere between 60 and 120 days. Each lease is unique so ALWAYS be sure to review the ‘End of Lease’ section of your lease prior to signing any official documentation.

So what happens if you miss the LOI window? Well, once that time has passed then the leasing company will automatically renew your lease agreement. This renewal could be anywhere from 30 days to an entire YEAR! This also means that, if you have no other choice than to close the lease due to business closure or other reasons, you might be stuck paying off another 12 months’ worth of lease payments plus additional property taxes.

At Capital Office Products we know that you have a lot more to do than to worry about something that won’t happen for years down the road. Our company handles all of the aspects of the end of lease process for both current and prospective customers. With more than 20 years of experience we have learned the ins and outs of the ever changing lease process to create a smooth and stress free transition toward getting a new machine.

Looking for more information on what else you need to know in order to return your machine? Check back next week for part two: The Condition of your Equipment.

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Case Study – New Copier Technology Streamlines Lab’s Document Processes

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THE SITUATION
Time is of the essence in the healthcare industry. A clinical laboratory, focused on providing personalized services to medical practices, treatment providers, and many other organizations, was experiencing a serious backlog with processing lab results due to an obsolete manual process. A streamlined, cost-effective method of processing lab results was needed in order to expedite results back to doctors and patients.

 

THE CHALLENGE & THE SOLUTION
The lab’s manual process consisted of several inefficient and time-consuming steps. For example, the lab’s administrator scanned and sent the lab results via email. The administrator then created a folder with the patient’s number and saved the lab results to that folder, renaming the file with the patient number and date.

To streamline the process, the Copystar dealer recommended multiple Copystar color MFPs, as well as DMConnect™ with Nuance® OmniPage® to maximize scanning/indexing data at the MFP and provide OCR capability, utilizing Copystar’s keyboard option.

They worked with the customer to create a barcode routing sticker with the patient’s number, generated from the lab’s electronic record management system. These barcodes were attached to each incoming lab report. The DMConnect workflow was designed to read the barcode sticker and then dynamically create a folder with the patient’s number.
The lab results were then routed into that folder with the patient’s number and date as the file name. The workflow was constructed utilizing processing and routing, which allowed for large batch scanning. This workflow greatly reduced the amount of time employees spend at the MFP.

 

THE RESULTS
Increased efficiency by removing several steps and allowing batch processing, which directly addressed their manual process pains. The positive impact was immediately felt and conveyed to other lab locations throughout the state.

 

THE BENEFITS
Implementing a barcode sticker ensured reliable capture process and storage of critical medical lab results, significantly shortening the notification time of lab results and improving the billing process. This information was gathered from several sources, which Copystar deems reliable and to the best of its knowledge are accurate; Copystar however shall not be responsible for inaccuracies.

End Of Lease – 4 Things You Need To Know

End of Lease

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What to do at the end of your lease- 4 Things You Need to Know

So, you leased a copy machine for your business and it’s been a great run. The machine has served its purpose; it’s cranked out the umpteen last-minute jobs you needed, stapled and hole punched according to plan and you’ve only threatened to kick it three or four times (or more, but you don’t have to admit it).

Overall, she’s been a good machine…but now the lease is ending, what comes next? Listen up, cause this next part gets tricky.

  1. Letter of intent- Every lease requires a written confirmation of your intention NOT to renew the lease agreement. But each individual lease document differs in the requirements associated with making sure this is done correctly. Read through your lease carefully to find what is required. Not doing this correctly is costly. Most leasing companies will automatically renew your lease agreement for up to a YEAR if they fail to receive this information.

 

  1. Machine Condition- The leasing company requires that all equipment being returned be in “good, working order”. To them what this means is that the equipment first and foremost will A) Power on, B) pass paper and C) has no cosmetic damage (dented panels, broken parts, etc) One way to prevent any unexpected bills for damage is to take photos and/or video to keep as a record in case you need to dispute an issue later. Return facilities can take up to three months to review the condition of your machine and a lot of dings and dents can happen during that time.

 

  1. Returning the Equipment- Request return instructions from the financial institution that holds the lease on the machine. Usually this prompts a final bill as well. Once the lease has a $0 balance they will give you instructions of where the machine needs to physically go back to. From this point, you need to arrange freight transportation of the equipment and make sure it is insured and packaged properly. Make sure to request delivery confirmation from the shipping company.

 

  1. Call Capital Office Products– If you’re struggling with what to do and can’t seem to find any help, call us today. We handle all aspects of the end of lease process for current and prospective customers. With over 20 years in the copier industry we have learned the ins and outs of the ever-changing end of lease process to help facilitate a smooth return process on your behalf. (This really should have been #1)

Still looking for more information? Stay tuned for our upcoming articles!

Stapling, Punching, & Folding: New Copier Options Make Your Life Easier

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Whether you need your printed documents hole-punched for use in a training manual, stapled together for distribution, or folded into a brochure for client meetings, the right Copystar copier does everything in-house. This will save you the cost and hassle of outsourcing your document processing projects.

Copystar offers a wide range of document handling solutions to provide you with an impressive range of options. From small in house jobs, to full on marketing production, you’ll love the flexible capabilities these machines provide!

Along with the convenience that comes with these advanced document management features is the added security you’ll enjoy by keeping all your information on-site. When you create your own booklets, white papers, and briefings, you’ll retain complete control over all your intellectual resources that might otherwise be compromised by having your printed materials stapled, hole-punched or folded by an outside service provider.

Want to learn more about how you can transform your copier into a full-service, in-house document management station? Contact Capital Office Products today to learn more about the innovative stapling, punching and folding features on the latest generation of copiers from Copystar!

User Friendly Tips for the Friendly User (or, how not to hate your copier)

Working Smarter, Not Harder

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  1. Start at the beginning. Are you using the correct machine? When choosing a copier you don’t want to look at just the price of the machine itself. If you go for the cheapest option, that may cost you more money in the long run when it comes to supplies and repairs. Choose a machine that best fits your needs.

 

  1. Where is the machine being stored? If the area is too hot or humid it can potentially damage your copier and can cause you to have more service issues. Keeping your machine in a climate controlled room will go a long way toward preventing unnecessary down time.

 

  1. Use the right supplies. It may seem cost effective at the time to purchase inexpensive paper and generic toner you may find yourself with more problems down the line that will be costly to repair. Low quality paper can cause more frequent paper jams and you may see an increase in poor images. Your generic toner may be compatible with the machine at all or can lead to it’s on host of service issues.

 

  1. Where are you storing your supplies? Keep everything close to the machine if possible in order to keep track of what you do and do not have. If possible, try to keep a full set of spare supplies on hand. You don’t want to run out of black toner when all you have on hand is three cartridges of cyan.

 

  1. Rotate your supplies. Toner does not have an expiration date printed out on the box but it DOES lose its effectiveness the longer you store it. You should always keep one spare of every color of toner you use. Allow the one in the machine to COMPLETELY run out before you replace it. After using your spare, give us a call so that we can send you a replacement.

 

  1. Paper is important. The type of paper you use does make a difference you should also be aware of the condition of your paper. DON’T use paper that is wet, damaged or warped. Paper that sits too long in storage should be checked for any defects before being placed in the machine.

 

  1. Check your settings: Are you using the correct tray? Do you need color? Do you need single sided to double sided copies? Be sure to choose the correct settings before having to go through the frustration of having to start all over again.

 

  1. Making copies? Check your original documents. Remove any tape, sticky notes, staples or paper clips and make sure that your documents do not have any fresh liquid paper or ink. These can cause paper jams, damaged parts or distorted imaging that will require an experienced technician to repair.

 

  1. Is your machine clean? Dust and other contaminates can cause serious damage over time. If your copier accumulates too much debris then it should be moved to a new environment. If this is not possible then the best thing you can do is schedule a routine cleaning to keep the machine working like it is supposed to.

 

  1. Be gentle and talk sweetly to your machine. Being a friendly user is tough when your machine isn’t working but your machine has the potential to become permanently damaged if you slam the drawers, slap your hands against it, kick it and throw it out of the window. The best thing you can do is to take a step back and give us a call. We will do our best to walk you through a solution or give you an ETA on your technician.

 

As always, Capital Office Products is more than happy to answer any questions or concerns you have about your equipment. Please don’t hesitate to give us a call at 803-407-4321.

Also, don’t forget to check out our Facebook page for more information on your copier and some upcoming useful tips and tricks directly from our experienced team!