Over the past year, COVID-19 has hit the U.S. economy hard, forcing businesses to make difficult financial decisions. As the economy reopens and budget constraints lessen their grip, learn how to put your IT budget to good use. By optimizing this section of your budget, you can get the most out of your outsourced IT support. Follow along to learn our top tips on how to optimize your business’s IT budget in the new American economy.
Employ IT Financial Management Software
You can’t have a budget without the dollars and cents that power it. It is difficult to make financial decisions when you don’t have a solid understanding of where your money is going. IT financial management software allows you to track expenses, serving as a measure of accountability and providing insights into IT’s value. With the reports generated by IT financial management software, you’ll have the information needed to make decisions in your business’s best financial interest.
Enact an Asset Management Strategy
A successful asset management strategy allows you to save thousands on physical assets. With information technology asset management, you may also be able to reduce your overall IT spending. How? Asset management allows decision-makers to detect any waste in your IT budget. Do you need to cancel unused subscriptions? Or maybe your system is running on outdated software in need of an upgrade. Either way, an asset management strategy allows you to gauge the effectiveness of your budget to make any necessary changes. It can also be integrated with your IT financial management software.
Focus on Your Priorities
As with any budget, the key part of optimization is prioritization. You can’t make the necessary changes without first assessing where your priorities lie. Financial management software and/or asset management strategies can help you address the question of what to focus on. However, your team should also be involved in the decision-making process to ensure you’re making the best possible choices about each item.
Automate What You Can
Automation may seem counterintuitive given the high level of value IT support brings to your business. However, by automating certain repetitive tasks, your IT support team will be freed up to focus on more important things. Examples of automation include chatbots and self-service options that provide solutions without the need for human interaction. Automation can also streamline the ticketing process and workflow for all your business’s departments, not just IT.
Store Information in the Cloud
Moving information to the cloud can free up physical space and decrease your operating costs. If you wish, you can even transition away from a physical workspace entirely. When you no longer have to pay for utilities and all that goes into running on-site data centers, your budget can be used for other things. Additionally, the increased flexibility and speed afforded by the cloud are hard to beat when compared with traditional on-site systems.
Consider Open-Source Software
Software expenses can eat up a large chunk of your business expenses. One way to lower these costs is to use open-source software. Source codes can be easily accessed and customized to suit your company’s needs. The fact that developers worldwide contribute to updates means these updates are often more frequent and efficient. When you choose open-source software, you can say goodbye to lengthy contracts and annual maintenance fees. Plus, if you do encounter any issues, you’re not bound to one company; you can seek help from anyone you choose.
Focus on the Team
Your enterprise wouldn’t be where it is today without the hard work of your employees and IT team. When you work with outsourced IT support that is appropriately compensated, highly trained, and well treated, you are sure to see improved results. When workers are overworked and underpaid, the quality of their work begins to decline. That’s why it’s essential to work with an IT company with integrity, as well as a rigorous screening process. While this tip may seem superfluous, it truly is a little-known key to increasing your ROI.
More IT work is outsourced today than ever before. When you work with a managed service provider, you can quickly implement best practices, new strategies, and technologies, and make use of their technical expertise. You may also benefit from reduced costs and access to top tech talent you might not otherwise find. In the long haul, consider outsourcing as a way of lowering your IT costs and refocusing your attention on your business itself.
Are You Seeking Outsourced IT Support?
When you are in need of outsourced IT support or any other form of technology management, reach our experts at the Haber Group. Our people-focused approach to IT allows us to deliver you the ingenious solutions you need to power your business. Having served the New York City area since 2000, we are dedicated to providing sophisticated IT support at affordable prices. To learn more about how we can help your business thrive, don’t hesitate to contact us today!