Just like phones and laptops, other assets require small updates to keep them modern. This proves your assets aren’t out of date when they reach EOSL. At this point, third-party maintenance (TPMs) providers can step in to extend the life of your hardware.
How to extend the life of your IT Assets
After years of using an asset, it is almost guaranteed you will receive a message at some point from your original equipment manufacturer (OEM), stating they are discontinuing support for your equipment, which can be worrying. This means your equipment has reached its end of warranty, and the company will no longer provide updates, repairs or replacements when needed. When you receive the dreaded message from the OEM, it means that the equipment is entering one of two stages: either it has reached its End of Life (EOL) or End of Service Life (EOSL). The common next step is to replace the hardware, buying everything new and updated as it is believed the old equipment is of no use. This is false- the equipment will work just as well with maintenance and monitoring, just lie before but from a different company. Purchasing new hardware can be expensive and is unnecessary when you are still be left with options that enable you to keep your existing equipment. Third Party Maintenance Providers specialize in helping you make the most of what you already have, and make it work as if its brand new.
What does it mean when you reach the EOL date?
EOL means that the equipment has reached its end-of-life date, a date set by the OEM in which they stop producing the line of hardware you have purchased and focus on bringing in their next range of new products. In the modern world, new assets are released every day, so this date can be very short. This is in attempt to convince existing customers that their current equipment is not sufficient, and they need to buy the new range. The OEM will typically still support your existing equipment, however firmware is pretty stable by this point, so you probably won’t have any updates or patches come through which require support. At this point, the OEM will most likely attempt to push their new products at you, which are not only most likely costly, but also once this new equipment is released to the market, your current equipment will lose value and there will not be much point trying to resell it. Overall, you’re losing out on money and may not see any benefits from “upgrading” if the current equipment worked fine for you, as the End-of-Life date isn’t always accurate- your equipment could work as good as new.
So what is EOSL?
EOSL is the point up until the equipment can be supported and updated by the OEM. OEMs will no longer support your equipment once its reached is EOSL, which is usually the point where your equipment starts to require updates and technical support to keep it running as new. This stage sometimes scares people, as it looks as if the equipment is getting old and may be worn out. This is inaccurate, as most equipment just needs the newest updates installed to keep up to date. If an asset was made in 2015 and reached its EOSL in 2020, it doesn’t mean you can’t use it, it just needs the 2020 update to be modern and not stuck in 2015.
Just like phones and laptops, other assets require small updates to keep them modern. This proves your assets aren’t out of date when they reach EOSL. At this point, third-party maintenance (TPMs) providers can step in to extend the life of your hardware. There is no way to know for certain how long the life of your equipment can be extended for, however TPMs can support it for as long as possible and save your company a lot of money.
How much can I save?
BBC reported that every 3-5 years, servicing your existing equipment rather than buying new hardware can save millions of pounds worldwide across businesses of all sizes. In this example, BBC spent around £60 million the last time they purchased their new hardware. This is a very large sum of money and over 3-5 years, it would’ve been damaging to the BBC’s budget and unnecessary to spend another £60 million on new equipment. Using TPMs to service their hardware and extend its life cost around £20 million, reducing their outgoings substantially.
How long will my equipment really last for?
Third Party Maintenance Providers can’t calculate how long your equipment will last for exactly, with maintenance. However, TPM Providers will always be transparent with you, keeping you updated with any issues the assets have, as well as when it seems like a good time to upgrade. TPM Providers’ main priority is to keep your business working to its optimum and will always mention if it seems like an asset needs replacing- they are the experts after all.
You can save up to 60% on Maintenance Costs when opting for TPM, which is why its so popular and has grown in the past few years. Large organizations are saving millions on their overall IT costs, allowing them to invest more in other things and grow. There have been multiple studies to show how companies of all sizes have benefitted greatly by investing in Third- Party Maintenance, having saved money which has allowed them to spend it in other ways.
What Velez Provide
Here at Velez, we will support you for as long as your assets are fully functionable. We offer a cost-effective solution that ensures your equipment is functionable for as long as possible, providing first-class warranty support and keeping your hardware updated where possible. We will evaluate your equipment yearly and offer a continual renewal of warranty support and maintenance. The price of maintenance will increase as your equipment becomes older; however, our prolonged support provision will help you reduce costs by avoiding having to buy new equipment from OEMs on a regular basis.
Save money and the hassle by reaching out to us for EOSL/ EOL support. We will give you the best support for the lowest available price and save you the hassle of buying new lines of equipment every few years. Weather it is a whole team worth of hardware or just an individual, Velez can provide you with support.
You can find out when your assets will reach their end of life/ end of service life date by looking on our EOSL Database.
Learn more at velezmanagedservices.com.