Technology spending is an issue that every business has to confront. There are a lot of options out there and a lot of promises made of which many won’t ever come to fruition, so it’s important to know exactly what it is that your business needs before committing to any technology investment. This month, we discuss six variables to consider when deciding on your next technology move.
Over the past year (and change) millions of businesses have been affected by the COVID-19 pandemic. As a result, it may not surprise you that you will have to adjust your budget to accommodate the massive amount of changes that we will see as everyday life begins to normalize. Today, we thought we’d take you through some of the financial challenges your business is sure to have to deal with when social distancing is a distant memory.
Budgeting anything can be difficult, but with many business’ organizational reliance on information systems, finding the money to get your IT initiatives off the ground can be a challenge. That hasn’t stopped the IT sector growing fast. In fact, IT spending in business is at its highest levels since 2007. Let’s take a look at how your IT budget actually helps keep your organizational technology initiatives moving forward.
Those in the business sector in charge of making decisions can often break down the choices they face as follows: benefit the short term vs the long term. If you’ve got experience with decision making, then you realize that planning for the long term works out better for all parties involved, including your bottom line. This is especially the case when it comes to big decisions involving technology.
Let’s say you get a bill in the mail for technology support, but you don’t necessarily know why you got it. Pretty troubling, right? Clearly someone in your organization isn’t privy about the proper method of getting help for their technology, but if you regularly work with a break-fix IT provider, this kind of correspondence (and cost) is unavoidable. Thankfully, there’s a simple solution to make sure that something like this doesn’t happen again.
When a business finds new software solutions that can effectively replace their older, less efficient systems, applications can often go unused for extended periods of time. However, these unnecessary apps can waste time and money for your business, which can add up quickly. In fact, as much as 38 percent of enterprise applications are wasting away on organizations’ networks.
Every business wants to be like Google and provide employees with a dynamic place to work, filled with amenities. It would probably be a dream come true for your organization to sit next to Google on Glassdoor’s annual list of “50 Best Places to Work.” Reality check: you’re not Google, as you’re reminded of this every time you attempt to balance your company’s budget.
We live in a world where money is the solution to all problems. If you have a problematic piece of technology, what do you do to fix it? You can call in the professionals, or shell out for new hardware or software. Either way, you’re spending money, but the difference in how much you need to spend depends on the policies your IT support budget specifies.
It’s the nature of technology to grow more complex over time, and as it does, the types of threats grow alongside it. Security is now more important than ever before, and if your business is not prepared to handle the threats that lurk in the shadows, your organization could be running with an unnecessary crutch.
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