When it comes to procuring technology and working on technology projects, budgeting is a key issue that must be ironed out long before project implementation begins. This process can be troublesome and fraught with all sorts of challenges, but you don’t have to do it alone! We’ve got your back. Here’s a crash course on how you can manage your IT budget for maximum value.
With the COVID-19 outbreak forcing businesses into unenviable situations, it’s probably not surprising that business owners and decision makers are looking at what expenses they need to cut in order to keep their businesses afloat. Today, we’ll discuss the trends we are seeing and how managed IT services can be a godsend in situations like this.
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.
Marketing your business is one of the most crucial factors to its success. Unfortunately, it can also be one of the most expensive. To avoid this, you must plan a budget for your marketing initiatives. What follows is a step-by-step guide to crafting a budget that best fits your needs as a company.
Your operations are, more or less, contingent on your budget. As such, your business will rely on its budget to guide it fiscally through the next year of operation. Unfortunately, IT resources care little about your budget, and you can see this in how unpredictable it can be. We’ll discuss ways that you can keep your IT budget from breaking the bank, as well as how you can improve success over time through proper management of your IT assets.
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.
Wouldn’t it be nice if you could provide your staff an over-the-top benefits package similar to what Google offers their employees (aka, “Googlers”)? For most SMBs, making Glassdoor’s annual list of “50 Best Places to Work” (a list routinely dominated by Google) is a fantasy; primarily due to the fact that the average enterprise operates within the confines of a strict budget. As the owner of an SMB, this reality often means making tough decisions and budget cuts.
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.
Putting together an IT budget is an exceptionally tricky procedure. Every year presents unique technical challenges that need to be addressed, but the slightest miscalculation can be detrimental to an IT budget. Here are five tips to give your organization some breathing room when it comes to planning out next year’s IT expenses.
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.
Chances are that when you begin going through your expense reports, one of the most glaring expenses your business has is payroll. It is possibly the most crucial cost you will be subject to. In fact, small businesses need to realize that by hiring employees, a large portion of your operational budget is out the window. To properly grow a business, you may need to take an alternative view to the traditional business model; including your technology management.