man woman working on IT budget

3 crucial steps to fix your IT budget

IT technologies are the norm across a myriad of industries and business applications. However, having an inefficient IT budget can leave your company exposed to risks, surprises and foreign intrusion. These elements can serve as obstacles to fund innovation, while affecting every aspect of your overall business communications and processes.

With this in mind, here are 3 effective steps you can take to fix and manage your IT budget.

1. Eliminate errors and save crucial time

In the IT world, time is purely of essence. Even the slightest computer software or hardware malfunction can lead to loss of business and revenue. Therefore, it is essential to have a sound IT plan in place; one that monitors and eliminates all types of errors and saves time.

Here are some of the best practices your company can adopt, adapt and implement across multiple departments.

  • Ensure your servers, software –hardware and computers all up to date across the board. Work with your in-house IT team to map out possible scenarios (IT risk management), while having the right deployment in place to tackle any unforeseen errors or network mishaps.
  • Make sure your system drivers; anti-malware, anti-spyware, anti-ransomware and anti-adware apps are updated and fully functional. Network security is pivotal in staying on track and within budget. The last thing you need is to incur out-of-pocket expenses due to gaps, holes or vulnerabilities within your business IT network and platforms.
  • Do not wait for your IT team to get to the root of the problem. Encourage your employees and team-members to understand the core aspects and intricacies of your IT security needs. With everyone on the same page, you get a comprehensive and cohesive approach to safe computing daily.

2. Reduce overspending surprises that result in emergency budget cuts

An IT budget is no different than your home or personal budget. You want to allocate enough funds to maintain IT support for daily business goals and directives. However, anything and everything can happen in the world of online business. From hacks and intrusion to viruses and system malfunction, overspending surprises are actually not surprises at all.

With nearly 70% of global businesses affected by some type of malware or data breaches in 2017, this year has been no different with companies having to cut their budgets in favor of financing IT damages and recovery.

Here are a few ways you can reduce overspending surprises:

  • Analyze and assess your immediate and long-term IT needs. By doing this, you pay only for the services that you need; network security monitoring, app development, cloud security, data backups, maintenance, repair, etc. This allows you to stay within budget, while allocating a portion of your revenue to handle any IT-related emergencies or disasters.
  • IT professionals can overhaul your security networks to expose and eliminate susceptible or vulnerable areas. Similarly, they are able to see which areas are performing well, along with which areas need security improvements or data protection. This should fall within your IT budgeting plan – and also ensures your company’s technological infrastructure is safe, sound and ready to use.
  • From spam filtering and monitoring BYOD plans to determining which mobile apps are safe to use for employees, even the slightest security gesture can have lasting and profound effects on any business IT budget – in any niche.

3. Reduce wasteful padding that prevents funding for innovation

Businesses are always on the pulse of new technologies and trending innovations. However, many brands tend to overpay for security padding – resulting in lack of revenue to foster and facilitate new innovations in technology and app development.

With managed IT services, you are able to work within your IT budget to strategize, mobilize and move forward with your plans for new products and services.