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
Monday, January 21 2019

Captcha Image

Mobile? Grab this Article!

QR-Code dieser Seite

Tag Cloud

Data Recovery Physical Security Social Media Law Enforcement User Error Avoiding Downtime Windows 10s Data Security Cleaning Windows 7 Word Addiction Innovation Remote Monitoring Privacy IT Services Virtual Assistant Windows Best Practices Mobility Efficiency Twitter Data Backup Employer-Employee Relationship Windows 10 Saving Money Gmail Remote Worker Sports Practices Microchip Facebook App Smartphone Communication Computer Workplace Tips Fraud Networking Virtualization Botnet Miscellaneous Workforce Disaster Recovery Cybersecurity Backup Google Docs Telephony Nanotechnology Netflix Blockchain Root Cause Analysis Server Ransomware Phishing Redundancy Encryption Network Security File Sharing Business Computing Trending Government Spam Blocking Operating System NIST Mobile Device Management IT Management Software as a Service Meetings Telephone Systems Internet of Things Advertising Mobile Device Knowledge Automation Voice over Internet Protocol Social Engineering Unsupported Software Access Control Productivity User Tips Managed IT Bandwidth Hardware Technology Excel Tip of the week Password Router Data Protection Mobile Devices How To Servers Telecommuting Windows Server 2008 Wi-Fi Amazon Scam Keyboard BDR Sync Google Apps Business Continuity Private Cloud Wireless Charging Staff Communications Cybercrime Business Apps OneNote Public Cloud Information IT Support Training Camera Managing Stress Shortcuts Data Outsourced IT Identity Theft Network Recovery Software Managed Service Provider Telephone System Smart Tech Holiday BYOD Business Intelligence Administrator Cloud Applications webinar Hosted Solutions Security Electronic Medical Records Windows 10 Data Storage Android Update VPN Microsoft Office Malware Gadgets VoIP Email Microsoft Money Password Management Two-factor Authentication Hackers Collaboration Chrome Managed IT Services Smart Office Small Business Tip of the Week Frequently Asked Questions Spam Google Content Management Comparison Connectivity Vulnerability Smartphones Millennials Passwords Infrastructure IT Plan Amazon Web Services Remote Work Charger Business Management Office 365 Bring Your Own Device Paperless Office Website Computers Artificial Intelligence CES Human Resources Alert FENG Conferencing Upgrade Data Breach Tech Term Google Drive Company Culture Cloud Computing Save Money Cortana Browser Multi-Factor Security Internet Settings Machine Learning Managed Service Managed IT Services

Newsletter Sign Up