Do you have concerns about your IT budget? IT professionals are seeing varied results in their yearly budget estimations says Spiceworks’ 2019 State of IT Report. While 58 percent of businesses plan to add more funds to their IT budget than last year, 27 percent plan to stay the same. 7 percent of businesses are cutting their IT budget. Regardless of the survey results, IT managers look hard for cost cutting ideas to optimize their IT dollars.
Many costs are mandatory, such as cybersecurity and local regulations and there is no wiggle room for these. There is also the occasional unplanned cost that pops up taking more cash from the budget. The business world is seeing a digital transformation and with it comes ideas and solutions to help reign in and control IT spending.
Utilize Services in the Cloud
It’s been said that cloud services can save a company money on their yearly budget. How can spending money on service be considered part of a cost-cutting strategy? There are two areas of cloud-based services where the budget may be able to be trimmed.
SaaS (software as a service) model:
Updating hardware and software, finding and fixing bugs and installing patches for security are areas that can be very time-consuming for the IT department. These all take the technicians away from other important IT issues. The updates alone require studious testing before they can be installed. By using this service, you won’t have to worry about being behind on important updates.
IaaS (infrastructure as a service) model:
Virtual servers offer businesses the ability to store their information, operating system and more offsite for a fee. Their IT technicians no longer have to worry about maintaining physical servers on-site. This, in turn, will lower technology investments cost and improve production. Statistics say 76 percent and more are utilizing virtualized servers to help trim the budget item.
Encourage Employees to Bring Their Own Technology
>Personal mobile devices can be securely connected to the business network. Advances in endpoint security allow for employees to take care of emails, collaborate with the team and examine documents without compromising privacy. Companies have seen a 34 percent increase in productivity among employees who use their own devices according to recent studies. Add the fact that half of the employees who were questioned were confident that the technology they use in their daily lives enhances their performance at work. Encouraging a policy that allows for personal tech use in the work environment has also shown to save $350-$1300 per year per team member. How’s that for cost management?
The Benefits of a Managed Services Provider
IT professionals spend a lot of time taking care of service issues, some of which is out of their realm of experience. Hiring an MSP (managed services provider) to take care of these problems allows your team to work proactively for the company, rather than troubleshooting issues that can be handled quickly by a more knowledgeable group of technicians.
The return on investment is substantial simply by not having to pay for extensive training for your group. Inform the MSP what level of expertise you need and they will handle the training of their staff to accommodate your needs.
Your IT Budget – Looking Forward
As you work towards reducing your operational budgets, you may find some of the above-mentioned tips will help, especially when you team up with a managed service provider. A competent and trustworthy MSP will help you take a look at your budget and suggest ways to cut costs while helping to guide your IT team to better productivity for the company.