fbpx
253.777.0763    Get SUPPORT

Graemouse Technologies Blog

Budgeting for IT Can Benefit Your Business’ Bottom Line

Budgeting for IT Can Benefit Your Business’ Bottom Line

Your business depends on a budget to come out in the black at the end of the fiscal year, and the way you invest that budget will have a considerable impact. As you create this budget, your IT needs to be one of your top considerations - after all, it is what effectively powers the modern business. Here, we’ll discuss how diligently incorporating your IT into your budget can help your business be more successful down the line.

How to Approach Your IT Spending
When determining an IT budget, perspective is an important part of the process. It can be tempting to view your IT as just another cost of doing business, but it really is more than that. Your technology (and the state it is in) has ramifications that spread to your entire business, so if it is lacking, everything will be. Employee morale will suffer, your productivity will slow, and your incoming cash flow will falter.

After all, an IT budget needs to account for a lot. There are the costs associated with acquiring and subsequently upgrading your information technology, as well as training your staff to properly leverage these solutions. However, a good IT budget will also account for the odd inconveniences that will require some financial spending to resolve. Furthermore, with your budget in mind as a reference, explore some of your options as far as cost-savings go… are you paying for more resources than you need? Are you leaving money on the table anywhere when those funds could be used more effectively contributing to another goal? While information technology is hugely helpful when leveraged properly, it can become a financial burden if over-invested (or even under-invested) in.

This is how you should actually consider your IT budget: an investment. While some of it will be classified as a business expense, much of your spending will be into endeavors that help your business, either by increasing efficiency or reducing waste. Either way, your IT can be used to put your company in a better financial situation.

Encouraging Financial Well-Being with an IT Budget
If you’re unsure of how to proceed with budgeting your IT, we’ve compiled a handy list of things you should (and shouldn’t) do during the process.

  • Have a set budget for your IT. In order for your business to be able to utilize the caliber of technology solutions it needs for success, you need to put forward the investment into those solutions.
  • Invest in business-enhancing solutions. Whether you’re boosting your internal productivity or fortifying your business against threats that could keep you from conducting business as usual, your IT budget should be spent in ways that directly benefit your operations.
  • Don’t shoot from the hip. Like we alluded to above, if you aren’t investing in your IT solutions correctly, you could find yourself in a worse spot than before. It is crucial that you go about investing in your IT strategically, directing funds to where they are needed and where they will help you to generate more revenue.

Alexa von Tobel, CEO of LearnVest.com, said, “We all have pretty much similar dreams, and at the root of all those dreams is being able to be in control of your money.” We agree, which is why we’re dedicated to providing you with the most value in our IT services without emptying your coffers. To learn more about the easily-budgetable services that we have to offer, reach out to us at 253.777.0763.

Our 2018 Business Technology Overview
Tip of the Week: Avoiding Scams
 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Saturday, April 20 2019

Captcha Image

Mobile? Grab this Article!

QR-Code dieser Seite

Tag Cloud

Telephony Software as a Service Technology Tools Business Mangement Emergency Quick Tips VoIP Windows 10 Printer Avoiding Downtime Security Workplace Tips Cloud Two-factor Authentication IBM Backup Business Knowledge Infrastructure User Tips HaaS Computers Human Resources Hybrid Cloud Access Control Display Settings Budget Google Docs Website Data Recovery Training Unsupported Software Hardware Smartphone Machine Learning Microsoft Gadgets Data Storage Best Practices Money Remote Monitoring Spam Blocking Business Intelligence Cast Network Voice over Internet Protocol Hackers Internet of Things Vulnerability Bandwidth Innovation Smartphones Tech Term Windows 7 Server Productivity Business Technology Business Computing FENG Save Money Encryption Windows Alert Managed IT Services Government CES Wireless Charging Operating System Google Drive Botnet Automation Data Breach Collaboration Cryptocurrency BYOD Apple Hacker Health Social Engineering Malware Facebook Public Cloud Chrome Comparison Staff Word Marketing Disaster Recovery Microsoft Office History HVAC Safe Mode Google Search Current Events Scam Password Keyboard Managed IT Services Spam Social Media Update Accountants Blockchain Windows 10s Software Productivity Paperless Office Tip of the Week Saving Money Wi-Fi Upgrade Mobile Device Router Biometric Security Virtual Assistant Online Information Email Unified Threat Management Servers Fraud Apps Cybersecurity Bring Your Own Device Help Desk Hosted Solutions Firewall Networking Passwords Root Cause Analysis BDR Miscellaneous Business Continuity Frequently Asked Questions Files OneNote Mobile Device Management Wireless Internet Identity Theft Augmented Reality Efficiency Communication Windows 10 Mouse Telephone System Netflix VPN Content Management Phishing Browser Small Business Computer Privacy Cybercrime Private Cloud Managed Service Holiday Net Neutrality Connectivity End of Support Charger Ransomware Data Security Android Communications Outsourced IT The Internet of Things Cloud Computing webinar Business Management Data Protection Meetings Devices Artificial Intelligence Safety Telephone Systems Employer-Employee Relationship How To Managed IT IT Plan Office 365 Data Backup Law Enforcement IT Services Internet Network Security IT Management Relocation Redundancy Virtualization Google Wire IT Support Mobile Devices Sports App Data Applications

Newsletter Sign Up