Cape Technikon extends agreement with RentWorks to R15m investment in technology

Cape Technikon has once again selected RentWorks as its technology finance provider in upgrading its peripheral technology equipment such as PABXs, photocopiers, printers and faxes. The four-month project, which represents a total investment of R15 million, follows the upgrade of its desktops and laptops.

"We serve 13 000 full-time and 7 000 part-time students and an objective assessment of our technology offering revealed that we were lacking the technology infrastructure necessary to operate effectively and provide our students a competitive-edge in the workplace," comments Paul Slack, chief director of finance at Cape Technikon. "We therefore put in place a project plan to upgrade as many of the facilities as possible and set about finding partners who would help us get the most out of our budget."

Under a RentWorks rental agreement, Cape Technikon will lease the peripheral equipment over 36 months. "We simply could not afford to tie up R15 million in cash in a once-off purchase," explains Slack. "But RentWorks offered us a highly flexible solution, turning a large capital investment into a quarterly expense, which is a much better option for our budgets and offers an immediate return on investment for the Technikon and its students."

As long-term business partners, RentWorks has adapted its offer to meet Cape Technikon`s needs. "One of the key requirements we place on RentWorks is transparency and we set them some considerable challenges in determining a solution that met all our requirements," comments Slack. "But they rose to the challenge and offered us a highly competitive finance structure, both times. "

RentWorks provides rental solutions to a global customer base. Established in Australia in 1988, RentWorks provides rental finance solutions directly to large and medium enterprises and through the development of vendor finance programs for technology manufacturers and large resellers.