One of the more frustrating parts of running a business with an IT budget is the rush to spend all those dollars before they get redistributed to other departments. This happens more often than you might think, yet despite this, you have businesses spending without thought, trying to use up the funds before they dry up. In reality, you want to have each of your IT purchases be an investment in the future of your business—an investment made with intention and thought.
Today, we want to discuss how you can get the maximum ROI on any investment you make in your company’s IT purchases.
Smart Technology Investments for SMBs
Let’s get one thing out of the way; investments and expenses are two different things. An expense is where you take your capital and spend it, while an investment is essentially transforming that expense into more capital over time. This is where the idea of a return on investment comes from. You make back what you spend on IT in the efficiency and productivity it brings.
Here are some of the easiest investments you can make in your IT:
Security Measures
The value of security solutions isn’t always visible, but rest assured, it’s there. You’re basically preventing major problems from occurring—problems that could wipe your business off the face of the planet if left unchecked. Here are some of the precautions you can consider implementing:
- Implementing MFA (multi-factor authentication) wherever possible.
- Utilizing EDR (endpoint detection and response).
- Leaning on consultants for penetration testing and other objectives.
These safeguards are worth investing in, even if you don’t think they are, with the most noteworthy reason being the compliance obligations that your business is likely subject to. They will help you avoid fines and other negative consequences of ignoring regulatory bodies.
Training
Security is not a “set it and forget it” kind of technology. You want to invest in the training you give your employees so they can augment your security measures. An educated staff basically becomes a human firewall of sorts. Train them on phishing emails, run simulations, and perform random checks to make sure your team is in-the-know. Then use what you learn to improve over time through iteration.
Planning Ahead
If you reach the end of the year and you still have funds left in your IT budget (wouldn’t that be nice), you can dedicate them to upgrades you implement in Q1. If you make this decision early enough, you can lock in your prices and minimize the impact that these improvements will have on your budget next year.
What Upgrades to Consider
If you want to make some simple upgrades to your tools and services, you can safely invest in the following:
- Tools that centralize monitoring, asset tracking, and documentation of your IT to help you streamline operations
- Tools that help you maintain your data hygiene, like cloud migration services or data cleanup projects. This will help you invest in services in the future according to operational needs, too.
Let Us Help Along the Way
Curious how we can help? Business Solutions & Software Group works with businesses like you to make better IT investments and smarter technology decisions across the board. Learn more today by calling us at (954) 575-3992.
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