If you as an admin enable this setting for your company it activates the possibility for buyout option for devices. The device's value is automatically determined using standard valuation metrics which you enable on category level. If you wish, you can customize the valuation to align with your business preferences at a category level. You can also manually set the buyout price for devices either on the device information page or through a CSV file import.

This article includes the following topics

• Adjust this setting
• Automatic calculation of buyout prices
  • Default valuation
  • Customized valuation
• Custom buyout prices
• How the buyout device flow looks like 
• Tips and troubleshooting 

Adjust this setting

1. Go to your profile to the right in the navigation bar, click on Settings then End of Lifecycle.
   
   
2. Find the toggle called Device buyout. Turn on or off the setting depending on what you want to have as available options for your employees devices.
   
   
3. When you enable the toggle, you’ll see additional details about five categories that support automatic calculation. You'll also find information about the CSV import option. Here is where you decide whether to use the automatic buyout calculation feature or custom your buyout prices. 
   
   
   

Automatic calculation of buyout prices

Defult valuation

If you enable the category phone for example, you’ll see the default valuation for this category.



The valuation is based on a standard depreciation model and the cost information available for the device in Velory, specifically the 'Company cost' field. 

When you enable automatic valuation for a category, the buyout price of all devices in that category will be calculated and updated automatically. The buyout price displayed under a device’s payment details reflects the current buyout cost. This price updates monthly, based on your company’s valuation metrics for that category.

If provided value doesn’t meet your business requirements, you will have an option to:

a) customize estimated value by adjusting some parameters in the customized valuation section

b) override values by uploading CSV with defined buyout values for devices

c) override values manually on individual devices on their information page 

Customized valuation

You can customize the valuation model to align with your buyout expectations for each category. Upon clicking "edit," a window will appear with customizable valuation metrics. 

When you update the valuation metrics here, the estimated buyout value diagram will reflect the changes, allowing you to compare your customized valuation with the default one. Click 'Save Valuation' to save your settings, and the buyout prices for products in that category will be recalculated based on your customized valuation.

Custom buyout prices

If you want to make only certain devices available for buyout, you can update the buyout option and price using the CSV import or on each device individually.

For individual device updates, go to the specific device, toggle the buyout option at the bottom of the page, and set the buyout price. This price will then be available to the employee assigned to that device.

For multiple updates, using the CSV import feature is recommended. Learn more in the article Import of users and device data using CSV template. This will make the buyout option with the price available to employees as their device nears its expiration date.

If you manually enter a price (either when registering a device or through a CSV file), it won’t change until you update it again. However, if you turn on automatic calculation, it will replace the manual price. Automatic calculation only overrides manual prices if you enable it afterwards. If automatic calculation is already on and you manually update the price or upload a file with a price, the manual price will take priority over the automatic one.

How the buyout device flow looks like 

When this option is enabled, employees will have the choice to buy their device for personal use at the end of the renewal period. This choice together with the buyout price will be visible on the device page when the renewal date is approaching. Specifically, the message will appear one month before renewal for one-off devices and three months before for leased devices.

After the Buyout button is clicked the employee will be forwarded to a payment view powered by stripe where the payment is done. A receipt of the payment through Stripe will be sent to the employee’s email when the purchase is successful. The status of the device will be updated to "Active - bought by employee" and it will still be used for work purposes until a replacement device has been received. Therefore when the employee has bought the old device, they should proceed to the store and place a request for a new device. 

Once the new device is in the employee's possession, it should be marked as received. This can be done by either the employee themselves or by you as an admin, depending on company policies. Simply click on the Mark as received button on the device page to complete this step. Regardless of who marks the device as received, its status will be updated to "Active".

Before the old device can be used for personal use it’s important that the new one is set up and the old one's information is transferred and restored. Once a bought-out device is ready to be used for personal use an admin needs to mark the device as released. 

Go to the device information page and click Mark as released and a pop-up message will show. Before releasing a device in Velory, ensure it follows your company's protocol for unused devices, such as removing it from MDM systems. Pressing Mark as released again will update the status changes to "Bought out by employee" and it's no longer visible in the employees active device asset management and the device can be fully used for private use.

Tips and troubleshooting

Buyout payment failure	When a buyout is processed, the payment is made using the user's personal card through Stripe. For more information about card payments, you can refer to this article. If the payment fails during the buyout process, you'll be redirected to the device options page again. At this point, you should double-check that your card has sufficient funds and is enabled for online purchases before you try again. If the card you used isn't supported by Stripe, you'll need to try another card. Once the payment is successful, the buyout will be initiated, and a receipt will be sent to your email.
Mark a device as released - expired device flow	When a device has been bought out through the device lifecycle flow, meaning that the renewal date of the device has been reached and it was time for the user to order a new device, the mark as released possibility will be available on the bought out device when below criteria are meet:  The replacement device is marked as received  The replacement device is assigned to the employee in question The replacement device belongs to the same category (i.e phones)  When all three of these criterias are met for the replacement device the “Mark as released” button will be visible on the bought out device the next morning at 5am (Stockholm time).  The “Mark as released” button is only shown for admins and service accounts. Devices that are ready to be marked as released will be included in the weekly email reminder that is sent on mondays at 9am (Stockholm time) containing all devices that are ready for release.
Mark a device as released - offboarding flow	When a device has been bought out connected to the offboarding flow, meaning the user has initiated offboarding and decided to buyout a device that they have been using, the mark as released possibility will be available on the employee’s last day of employment, at 5am (Stockholm time).  The “Mark as released” button is only shown for admins and service accounts. Devices that are ready to be marked as released will be included in the weekly email reminder that is sent on mondays at 9am (Stockholm time) containing all devices that are ready for release.
Activity information	In the activity tab on your own startpage you’ll see information about the action taken, as soon as the “Keep” button is clicked on the activity is updated with information about the action and that the device is opted to be kept.
Event logs	Admins can also view the event logs on the device to track actions taken. It's a useful feature for monitoring and reviewing device activity when needed.