Finance software company Codeweavers has called on software vendors to offer shorter contracts for new technology and software.

The Staffordshire-based company, introduced a 30-day contract in September of last year, and claimed to see a 48% increase in sales.

Codeweavers said that lengthy contracts were unnecessary, and shorter agreements allowed software lessees to be able to react to changes in the market. Shaun Harris, sales director at Codeweavers, said that access to new technology was important for finance dealers.

He said: “In today’s dynamic market, dealers need to have access to innovative technology that is relevant to the market needs of the moment.

“Technology that is seen as fast, flexible and reactive should have the capacity to be superseded by a better option, as this becomes available.”

In a previous issue of Leasing Life, it was found that demands for more flexible terms for leasing software and technology were gaining impetus as trends such as the Internet of Things (IoT) continued to develop. Those interviewed told Leasing Life that the proportion of technology leasing devoted to software had risen to 75%.

Harris added: “Dealers should question the value of long-term IT contracts, which can constrain their need for a nimble, entrepreneurial approach.”