6 Top Tips to spending your IT budget more efficiently
- Business Objectives – Use the knowledge of your executives and IT managers combined with your IT strategies and business objectives to ensure that you are sustaining a manageable growth. You need a good relationship between IT managers and key staff in order for successful IT implementation.
- Tailor technology investments – 57% of employees believe that directors rely heavily on what they read in the press when making IT decisions. Pay attentions to the landscape of your technology – ensure your investments are primarily driven by what’s happening inside your business.
- Don’t be scared of new technology – Find balance between implementing IT when it’s best for your business and future proofing you brand by mastering new technologies to gain advantage.
- Technology can simplify your workflow! Each employee wastes an average of 13.6 minutes per day due to IT malfunctions! 28.8% of which can be attributed to printers! Technology shouldn’t be making processes more complex – so consider updating your old machines. If equipment is costing more to maintain than it would to replace it has no place in your business!
- Think of the future! – Keep on top of evaluating your IT expenses. If you want to invest in lasting solutions over quick fixes – careful implementation of technology for the long term will reduce total cost of ownership and increase the return on investment. On average businesses are spending less than a quarter of their IT budget strategically.
- Look at the advantages of outsourcing! The average cost of outsourcing accounted for 10.2% of IT expenditure in 2014 – but it can free up internal resources that are better spent somewhere else. Depending on its budget and requirements, your budget may benefit from increased efficiency by handing over certain IT functions to external parties.