Every business, including yours, needs technology to run smoothly. However, when planning your annual budget, you may only consider the basics that keep everything running, not necessarily what else you might need. Here are 3 categories of tech budgeting business owners overlook.
In this article, we’ll explore three different but essential budget categories — projects, refreshes, and accidents/incidents -that are often overlooked but can significantly impact your company if something goes wrong. By taking these into account in your yearly budgeting process, you can avoid any unpleasant surprises later down the road.
Never ignore the following categories:
Thoroughly budgeting for the following crucial categories will ensure your business’ success. If they have not been part of your budget until now, consider a change in approach.
Projects
It can be easy for small businesses to unintentionally ignore important IT projects, such as securing networks and upgrading equipment. To combat this, include re-evaluating your security needs annually in your projects, so you’re always up-to-date with the latest verification of all secured equipment and software patches. Additionally, ensure that wifi and firewalls are performing correctly.
Hardware and Software Refreshes
As your business expands, you must ensure your technology infrastructure can keep up. One way to do this is by regularly refreshing your hardware and software.
While it might seem like retaining legacy systems is the easy option or more financially responsible, it can harm employee productivity and damage your bottom line. In addition, if security patches are outdated, you could even be vulnerable to attacks from hackers.
By upgrading your infrastructure regularly, you can ensure that employees always have access to the most up-to-date technology tools available—helping them stay productive while keeping your company safe from potential threats.
Accidents or Incidents
Businesses should budget for disasters. But unfortunately, when it comes to accidents or incidents, cybercriminals are always looking for new ways to take advantage of businesses that don’t keep up with security and updates.
Not only can ransomware hackers bring down your business, but data loss from failed equipment also needs consideration as an unfortunate side effect if something goes wrong during daily operations.
How long can you be without IT services? What possible costs, including backup plans, might prevent these situations from arising through proper planning?
Build a disaster buffer and invest in disaster prevention. Remember, smoke detectors are less expensive than firetrucks!
IT Partner Collaborate for Success
IT budgeting can be tricky, especially if you’re not a technology pro. That’s where working with an IT Partner can help!
For more information, visit IT Budgeting Tips for Small Businesses – how to properly budget for your technology to avoid surprises (computer-center.com) or if you have further questions, contact us