253.777.0763    Get SUPPORT

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
Wednesday, September 26 2018
If you'd like to register, please fill in the username, password and name fields.

Captcha Image

Mobile? Grab this Article!

QR-Code dieser Seite

Tag Cloud

The Internet of Things How To VPN Workplace Tips Router Google Drive Humor Electronic Medical Records Server Save Money Remote Worker IT Consultant Workforce Productivity Sports Miscellaneous Mobile Device Management Inventory Business Continuity Big Data Public Cloud Bandwidth Remote Monitoring Government Two-factor Authentication Document Management Saving Money Wireless Internet Amazon Hosted Solutions Computers Chrome Wiring IBM Redundancy Emails Windows 10 PDF Hardware Backup Entertainment Apps Amazon Web Services Addiction Technology Ransomware Managing Stress HaaS Managed IT Services Multi-Factor Security Employer-Employee Relationship Update Connectivity Cloud Operating System Private Cloud Word Firewall Passwords Smart Tech Emergency Artificial Intelligence Servers Apple Business Small Business Communications Managed IT Services Cybercrime Telephony Information CES History Safe Mode Blockchain Leadership Hybrid Cloud Innovation Bring Your Own Device Training Samsung IT Support IT Management Business Computing Safety Windows 10 IT Plan Phishing Password Recovery Unsupported Software Computer Care Cache Content Management Upgrade Settings Facebook Fraud Data Breach Paperless Office Security Audit Social Media Cloud Computing VoIP Microsoft Data loss Software Infrastructure Office 365 Efficiency App Sync Smartphones Business Intelligence Virtual Assistant Computer Spam Trending Downtime Internet of Things Managed IT Millennials Cryptocurrency Windows iPhone Productivity Disaster Recovery BDR Gmail End of Support Website Online Browser Automation Hackers Network Security Microsoft Office Data Storage Email Smartphone User Tips Hosted Computing Marketing IT Services Data Protection Alert Encryption Vulnerability Solid State Drive Privacy Money Telephone Systems Identity Theft Supercomputer Android Comparison Tip of the Week Google BYOD Law Enforcement Networking Staff Internet exploMicrosoft Communication Data Data Recovery Budget Business Management Windows 7 Google Apps Outlook Avoiding Downtime Social Engineering Mobile Devices Voice over Internet Protocol Tech Term Cybersecurity Managed Service Telecommuting OneNote Outsourced IT Best Practices Data Security Screen Mirroring Collaboration Data Backup Tip of the week Wi-Fi Gadgets Business Mangement Malware Spam Blocking HBO Internet Applications Wireless Charging Virtualization NIST Network

Newsletter Sign Up