In today's fast-paced business environment, companies constantly seek innovative solutions to reduce costs, improve efficiency, and stay ahead of the competition.
Light as a Service (LaaS) is one such solution that has proven effective across various industries, including the outdoor lighting sector. CU Phosco, the largest family-owned UK designer and manufacturer of exterior lighting, is proud to offer LaaS as part of our new affordable asset finance options. In this blog, we'll explore what LaaS is, its key benefits, and why our offering stands out.
What is Light as a Service (LaaS)?
Netflix do it, as does Amazon Prime, and even Santander Cycles, we are all familiar with the booming subscription industry. Similarly, Light as a Service (LaaS) is a subscription-based business model in which we provide lighting as a managed service.
Rather than making a substantial upfront investment in new lighting equipment, local authorities, businesses, or contractors can pay a monthly fee for access to the latest lighting technology and services. This model, successfully implemented in various sectors, is now making significant inroads into lighting, offering a cost-effective and flexible solution for streetlighting upgrades and high mast projects.
Key Benefits of LaaS
1. No Upfront Costs
One of the most significant advantages of LaaS is the elimination of upfront costs. You can upgrade to the latest LED lighting technology without substantial capital investment by shifting from CAPEX to OPEX. This is particularly beneficial in today's economic climate, where preserving capital and managing cash flow are critical concerns.
2. Improved Cash Flow
With LaaS, businesses can spread the cost of their lighting over time, making managing budgets and cash flow easier. This shift from large, sporadic expenditures to regular, predictable payments provides greater financial stability and planning certainty, instilling confidence in your financial management.
3. Access to Cutting-Edge Technology
LaaS ensures customers can access the most advanced lighting technologies, such as energy-efficient LEDs and intelligent control systems. This not only improves lighting quality but also reduces energy consumption and operational costs.
4. Maintenance and Support
LaaS includes comprehensive maintenance and support packages. CU Phosco takes care of all aspects of lighting management, from installation and commissioning to maintenance and repairs. This ensures smooth, uninterrupted operation and allows businesses to focus on their core activities, providing you with a sense of reassurance and support.
5. Enhanced Sustainability and Circularity
LaaS supports sustainability by promoting the reuse and recycling of lighting equipment. At the end of a LaaS contract, CU Phosco reclaims valuable materials from the returned equipment, minimising waste and environmental impact. This circular approach aligns with our commitment to sustainability and helps businesses reduce their carbon footprint.
The CU Phosco LaaS Offer
CU Phosco's LaaS solution is designed to provide our customers with a flexible, performance-based lighting management service. Here's what sets our offering apart:
- Third-Party Management: We handle everything from design and installation to operation and maintenance, ensuring a hassle-free experience for our clients.
- A Contract for You: Our LaaS contracts are tailored to meet each customer's specific needs, incorporating additional services such as technical support and operational insights.
- Environmental Responsibility: We manage the recycling of all reusable materials and equipment, contributing to a more sustainable future.
- Risk-Free Decision: CU Phosco bears the product and liability risk, guaranteeing the smooth operation of the lighting system.
Explore Other Finance Options
If LaaS is not your preferred model, CU Phosco offers additional asset finance options in collaboration with Siemens Financial Services. These include lease or hire agreements that allow businesses to spread the cost of lighting projects over time. Both options provide the financial flexibility to manage and upgrade lighting systems effectively.
Light as a Service (LaaS) presents a compelling opportunity for companies or local authorities to upgrade their lighting systems without the burden of upfront costs. By choosing CU Phosco's LaaS solution, you can benefit from the latest technology, improved cash flow, comprehensive maintenance, and enhanced sustainability.
Contact your Area Sales Manager or email us at hello@cuphosco.com to learn more about how LaaS can transform your lighting infrastructure and support your financial stability.