Properly registering can protect your interest should any of your customers not pay instalments or go broke. Even if the goods or assets are sold on, mixed or installed onto other goods.
Making a registration helps protect your interest in your goods or assets when they are not in your possession.
If you don’t make a registration of your interest in those goods or assets and your customer goes broke before they have fully paid you, your stuff may be sold to pay other creditors first, including those such as banks who have registered security over all the property of the customer.
If you are not registered, you will be an unsecured creditor in an insolvency and may not recover much, if anything, of what you are owed.
But if you are leasing or hiring out goods you may have a purchase money security interest (PMSI) enabling you to claim super-priority over other registered claimants, provided you follow the right steps.