With the new year quickly approaching, now is an excellent time to review your organization’s budget to ensure you have the resources needed to continue to grow and prosper in the coming year.
It is important to understand that in today’s highly digitized environment, technology should not be an afterthought. Your business must have a clear and well-defined IT budget since an unanticipated technology issue in the middle of the year could cause major setbacks.
“Some small business owners may be unsure how much to budget to allocate for IT needs, which can lead to overspending or underspending,” said Director of IT Operations at Clearview Group, Matt Cooke. “However, these budgets are vital as they help create a well-defined IT strategy for your organization that will align with company strategy and IT maturity.”
As technology advances at a rapid pace, regular technology refreshers become increasingly essential for any company hoping to stay successful. Rather than simply assuming you will need the same IT budget as last year, take the time to assess your organization’s current needs, as well as how upgrading or moving to different platforms might help your company meet its goals.
Just like most technology-backed businesses, your business should allocate its IT budget to improve four key areas:
Hackers are constantly on the lookout for vulnerabilities in a company’s network. You must identify these weaknesses in your IT infrastructure, so your business network is not compromised. Ensure to continuously monitor your network with a vulnerability scanning solution to identify potential problems and develop the best preventive measures.
Businesses frequently neglect critical IT projects, such as securing their networks. This could leave your business vulnerable to attacks. Hackers can easily access your network if your employees use unsecured Wi-Fi. Risks associated with free Wi-Fi hotspots include network compromise, evil twin attacks, and exploits. Setting up a secure VPN for your virtual workforce is a seamless way to avoid these events.
Keeping legacy systems may appear to be the easiest and most economically sound option, but it can decrease employee productivity and harm your bottom line. Your business is also more susceptible to hacking if your security patches are outdated. As a result, annual technology refreshers are critical to ensuring the optimal performance of your IT infrastructure.
Your business will need a plan in place to tackle any accidents or incidents, such as a cybercriminal demanding a ransom. Discovering that hackers have encrypted all your systems can be disastrous, not just financially but also in terms of your company’s reputation. When planning your technology budget, focus on strengthening your cybersecurity posture so your business can mitigate today's sophisticated threats.
An IT service provider can play a vital role in guiding your business through anything IT-related, including cybersecurity, backup, compliance, budgeting, and more. Some small businesses have an internal IT department or IT team, while others may have only one IT staff member or none at all. If your business has an existing internal IT team, there could be opportunity to implement a combination of internal and external IT services. This is helpful when your internal team has areas they cannot cover; you can outsource those areas to an IT service provider.
For other small businesses, an external IT service provider is precisely what they need. These providers can support your business in multiple ways, such as assessing your IT infrastructure to formulate a plan for budgeting decisions, providing advice on the best IT solutions, and assisting with implementation and setup.
Outsourcing your IT needs or opting for hybrid support alongside your internal IT team can reduce a great deal of stress. These specialists can help lighten the load and show you the right way to prepare a budget. Get started with a no-obligation consultation.
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