XFER Blog

XFER has been serving Michigan since 1994, providing IT Support such as technical helpdesk support, computer support, and consulting to small and medium-sized businesses.

Budgeting for IT Can Benefit Your Business’ Bottom Line

Budgeting for IT Can Benefit Your Business’ Bottom Line

Your business depends on a budget to come out in the black at the end of the fiscal year, and the way you invest that budget will have a considerable impact. As you create this budget, your IT needs to be one of your top considerations - after all, it is what effectively powers the modern business. Here, we’ll discuss how diligently incorporating your IT into your budget can help your business be more successful down the line.

How to Approach Your IT Spending
When determining an IT budget, perspective is an important part of the process. It can be tempting to view your IT as just another cost of doing business, but it really is more than that. Your technology (and the state it is in) has ramifications that spread to your entire business, so if it is lacking, everything will be. Employee morale will suffer, your productivity will slow, and your incoming cash flow will falter.

After all, an IT budget needs to account for a lot. There are the costs associated with acquiring and subsequently upgrading your information technology, as well as training your staff to properly leverage these solutions. However, a good IT budget will also account for the odd inconveniences that will require some financial spending to resolve. Furthermore, with your budget in mind as a reference, explore some of your options as far as cost-savings go… are you paying for more resources than you need? Are you leaving money on the table anywhere when those funds could be used more effectively contributing to another goal? While information technology is hugely helpful when leveraged properly, it can become a financial burden if over-invested (or even under-invested) in.

This is how you should actually consider your IT budget: an investment. While some of it will be classified as a business expense, much of your spending will be into endeavors that help your business, either by increasing efficiency or reducing waste. Either way, your IT can be used to put your company in a better financial situation.

Encouraging Financial Well-Being with an IT Budget
If you’re unsure of how to proceed with budgeting your IT, we’ve compiled a handy list of things you should (and shouldn’t) do during the process.

  • Have a set budget for your IT. In order for your business to be able to utilize the caliber of technology solutions it needs for success, you need to put forward the investment into those solutions.
  • Invest in business-enhancing solutions. Whether you’re boosting your internal productivity or fortifying your business against threats that could keep you from conducting business as usual, your IT budget should be spent in ways that directly benefit your operations.
  • Don’t shoot from the hip. Like we alluded to above, if you aren’t investing in your IT solutions correctly, you could find yourself in a worse spot than before. It is crucial that you go about investing in your IT strategically, directing funds to where they are needed and where they will help you to generate more revenue.

Alexa von Tobel, CEO of LearnVest.com, said, “We all have pretty much similar dreams, and at the root of all those dreams is being able to be in control of your money.” We agree, which is why we’re dedicated to providing you with the most value in our IT services without emptying your coffers. To learn more about the easily-budgetable services that we have to offer, reach out to us at 734-927-6666 / 800-Get-XFER.

Cybersecurity Industry Update
Tip of the Week: Avoiding Scams
 

Comments

No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Guest
Thursday, September 20 2018
If you'd like to register, please fill in the username, password and name fields.

Captcha Image

Mobile? Grab this Article!

QR-Code dieser Seite

Tag Cloud

Security Technology Tip of the Week Privacy Microsoft Internet Cloud Best Practices Saving Money Backup Software Workplace Tips Managed Service Provider Business Computing Small Business Hackers Data Hosted Solutions Google Productivity Hardware Mobile Devices Mobile Office VoIP Email Gadgets Quick Tips Malware Network Security IT Support Network Efficiency Innovation Social Media Business Management IT Services Miscellaneous Business Continuity Server Smartphones Upgrade Business Virtualization Windows Communication Disaster Recovery Microsoft Office Managed IT Services Communications Users Computer Passwords User Tips Data Backup Mobile Device Management Android Browser Save Money Marketing Smartphone Alert WiFi Holiday Tech Term Mobile Computing Ransomware Data Recovery Vendor Management Operating System Windows 10 Internet of Things Remote Monitoring Cybercrime Outsourced IT Avoiding Downtime Cloud Computing Computers Bring Your Own Device Apple BDR BYOD Information Technology Best Practice Big Data History Remote Computing VPN IT Solutions The Internet of Things Artificial Intelligence Firewall Chrome Router Telephone Systems Automation Going Green Current Events Employer-Employee Relationship Phone System Cybersecurity Trending Wireless Technology Application Facebook Collaboration IT Consultant Hacking Social Engineering Spam Health Office Managed IT Services Excel Budget App Printer Lithium-ion Battery Bandwidth Money Proactive IT Unified Threat Management Business Intelligence Applications Maintenance Windows 8 Two-factor Authentication Mobility iPhone How To Recovery Content Filtering Business Managament Fax Server Networking Gmail PowerPoint Office 365 Data Protection Antivirus Analytics Data Security Customer Relationship Management Hard Drives Training Mouse Managed IT User Error Humor Value Outlook Sports Tutorials Phishing Apps Private Cloud Virus Website Windows 10 Redundancy Law Enforcement IT Support Flexibility Encryption Entertainment Vulnerability Blockchain Saving Time Connectivity Word Tech Support Retail Settings Identity Theft Downtime File Sharing Memory Google Drive Network Congestion Inbound Marketing Conferencing IT Management Productivity Tablet Administration Search Save Time Twitter Mobile Device Social Networking Office Tips Digital Payment Document Management Computer Repair Data Management Streaming Media Risk Management Analysis Compliance Managed Service Solid State Drive Paperless Office OneNote IBM Skype Piracy Update Black Market Programming Instant Messaging Administrator Data Storage Leadership Environment Cleaning Password Running Cable Wireless Comparison Physical Security Augmented Reality Intranet Data Breach Human Resources Windows 7 Public Cloud Computer Accessories Wearable Technology Virtual Assistant Work/Life Balance SaaS Biometrics Scam Workers IT service Hacker Social Best Available Data storage Credit Cards Bluetooth Access Control Internet Exlporer People Data loss eWaste Servers PDF Samsung Touchscreen Smart Tech HaaS End of Support Spam Blocking Robot Safety CES Wi-Fi USB Online Currency YouTube Machine Learning IT Plan Government Information Point of Sale Meetings Recycling Video Surveillance Content Management Education Webinar Infrastructure Statistics Unsupported Software DDoS Practices HIPAA Upgrades Analyitcs Webcam Sync Uninterrupted Power Supply Cables nternet Crowdfunding Help Desk Hiring/Firing Customers Remote Support Windows Server 2008 Amazon Web Services Advertising Addiction Customer Service Accountants Business Technology Software Tips Distributed Denial of Service Remote Work Files Company Culture Wiring Hosted Solution Chromecast Password Manager Law Firm IT Enterprise Content Management Computer Care Consultant Hosted Computing Proactive Keyboard Telephony Unified Communications Students PC Care Scheduling Notifications Online Shopping LinkedIn Cache Cameras Audit 3D Google Docs Staff Colocation Net Neutrality Devices GDPR Netflix eBay Botnet Laptop Business Mangement Password Management Licensing Inventory Macro Remote Monitoring and Maintenance Virtual Reality Start Menu Shadow IT Theft Healthcare WIndows 7 Root Cause Analysis Alerts Data Warehousing SharePoint Specifications Windows 8.1 Update Supercomputer Regulations Evernote Hybrid Cloud Wireless Internet Printer Server Computer Fan Shortcut Voice over Internet Protocol Digital Signature Display IoT Co-managed IT Telephone System HBO IaaS Computing Infrastructure Thought Leadership E-Commerce Worker Commute Text Messaging Travel Touchpad Criminal Debate NIST User Line of Business Bloatware Gaming Console Mobile Cortana Legal Electronic Health Records Managing Stress Domains Work Station Millennials Relocation Knowledge Science Wireless Charging Wire FENG Multi-Factor Security Monitor Strategy Frequently Asked Questions Fraud Content Filter Patch Management Cryptocurrency Authentication MSP 360 Emails Entrepreneur Professional Services Google Apps Screen Mirroring Workforce Insurance Tablets Flash Fiber-Optic Smart Office Electronic Medical Records Lifestyle Reputation Tip of the week Amazon Internet exploMicrosoft Storage Windows Media Player Windows 10s Virtual Desktop Software as a Service IT Security Safe Mode Business Owner Hiring/Firing Telecommuting Nanotechnology Remote Worker Cost Management Tools NarrowBand Print Server HVAC Charger Cast Thank You Benefits Automobile Public Computer IT solutions Scalability Employer Employee Relationship CrashOverride Congratulations Smart Technology Books How to Loyalty Experience Techology Content Two Factor Authentication Emergency Music Worker Regulation Audiobook Camera Assessment Rootkit Politics Printers Transportation Battery Television Troubleshooting Webinar Video Games

Sign up for our Newsletter!

  • Company Name *
  • First Name *
  • Last Name *