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When developing the IT budget for your company, it can be easy to get lost in the minutia of the dollars and cents. You want to keep your technology spending to the bare minimum, but you also want to have the funding necessary to allow your business to stay at the forefront of technology. Having a plan of attack for your IT budget can ensure you have the money set aside to do the projects you have in mind and also be secure should any issue crop up throughout the year. Use these tips in creating your IT budget, and you’ll find that you can make the investments you want without feeling the pinch later in the year.

Look at the big technology picture

As you begin to strategize and piece together your IT budget, it is imperative that you take time to look at the big picture when it comes to technology. Knowing where and what you will spend your budget on in the near-term can allow you to adjust your expenses as necessary. Think about what type of software and hardware will benefit your business and allow it to improve the customer experience without reaching beyond its limits.

Ensure everything works together

When deciding on what type of technology to upgrade to, it is a smart bet to choose solutions that are designed to work together. Integrating systems that are designed to work together can give your company a tech boost without creating havoc or added costs that can blow your IT budget. Think ahead before you implement equipment that doesn’t comply with your current computer systems. This is a sure-fire way to ensure you stay within the budget you have laid out for your IT department.

Invest in cybersecurity

This year should be dedicated to making sure your company is protected from a cybersecurity attack. Looking for holes in your network system where a cyber attacker can easily get access to your customer’s personal data can be a costly problem that can hurt your reputation as an IT manager and your business as a whole. Be sure to invest in measures that will protect your company from a cyberthreat and make them a priority in your IT budget. This could be costly, but the ramifications of a security breach could be devastating and cost your company its livelihood.

Keep your bandwidth big

The employees at your business expect to be able to perform their job responsibilities without having to contend with bandwidth issues. As your bandwidth needs grows, keep up with the demand without creating an interruption in your business. Anticipating the bandwidth needs of your business are an essential component of your IT budget. Allow for adequate funds yearly to boost speed for your company to have digital access without comprise. Planning for it now will ensure you keep up with your company’s bandwidth growth each year.

Don’t forget big data

In 2018, you’ll see more data come to light than ever before. Companies are becoming savvy to the advantages of big data and taking advantage of the information collection opportunities that are available to them. Your IT budget needs to be flexible to the needs of big data and allow for employment of the technologies that advance this data collection. Use your IT budget to your advantage and dedicate funds to making big data a regular part of your business operations. Your company will benefit from the information, and you’ll be tasked with finding more and more ways to understand the desires of your customers.

Set aside money for your IT team

Your IT budget should also consider the needs of your IT team. You may need additional training, support or mentoring that can be a line expense in an IT budget that is easily overlooked. Take care to think about the areas where your IT department can improve in and what it will take to challenge and teach each member of your team on new technologies advancements that will need to be made now and in the coming years.

Set aside funding for new projects

As an IT manager, it can often be difficult to foresee all the tech projects that your team will need to be in charge of in the coming year. To alleviate potential projects from cropping up without warning and more importantly without funding, you need to set aside money in your IT budget to help cover special project costs. Earmarking money for new ideas and implementations can prevent you from being caught off guard and allow you to undertake these endeavors with excitement and fury.

When your IT department is in need of assistance planning for the future or implementing new technology strategies today, contact Resolute Technologies. We have a team of experienced consultants ready to assist you with all your company’s IT requirements. Contact us today!

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