10 Ways to Spend Your Year-End IT Budget

It’s that time of the year again when business executives and IT professionals start budgeting for their company’s future expenses. Since most people are hyper-focused on the allocation of their spending limits next year, they tend to fail to account for the extra IT budget left for this year.

Many will spend it on short-term projects or low-cost equipment without thinking twice. But there are smarter ways to spend your year-end budget.

At Integr8, we encourage you to invest your money wisely in the following 10 ways.

1. Planning Your IT Budget Proactively

When planning your IT budget for next year, your main priority should be to cut back on costs or improve your employees’ productivity. Business owners usually do this by investing in equipment or software that allows streamlining of processes. If you have this in mind, goal-setting for your business and budgeting gets much easier.

A team planning their IT budget

2. Disaster and Recovery Planning

Accidents happen in and out of the workplace. If you’re left unprepared for mishaps, your income will take a nosedive. Investing in disaster recovery for your important files can save you time and money in the future. Look for devices that have updated recovery models and replace the outdated ones.

3. Streamlining Hardware

Consolidating hardware is one of the best ways to cut costs and free up your IT budget immensely. By decreasing the number of hardware you use, you also decrease your carbon footprint, which is great for the environment. Allocating a chunk of your IT budget to invest in newer, technologically advanced, and sustainable hardware is the key to staying ahead of your competition.

4. Security Planning

On average, companies spend about three to six percent of their total IT budget on security. It’s safe to assume that security is often overlooked in both corporations and smaller businesses. But not investing in the security of your files makes you susceptible to cybersecurity breaches.

5. Switching To The Cloud

Gone are the days of filing documents manually. These days, data is stored in the cloud, where everyone can have access to them with just a few clicks. But merely having cloud storage can only do so much. It’s also important that your data can be accessed by multiple devices—such as printers, scanners, or fax machines—for a more efficient process. Set up your budget accordingly, and include a cloud storage plan that works best for your company.

a group of employees working on the cloud

6. Preparing For An Operating System Failure

As technological advancement continues to rise, companies also need to keep up with the latest trends. When operating systems end their life cycles, businesses are left to quickly replace them with other software. You’ll benefit from staying updated whenever your systems need to be replaced.

7. Having Device Management Solutions

As difficult as it is to admit, people live on their mobile phones these days. Even if it’s for official business, your employees will most likely use their phones to finish some of their responsibilities. However, this makes their devices vulnerable to phishing scams—one click on that suspicious email and your company’s data could be infiltrated. Investing in technology that protects you from this incident should always be on your IT budget.

8. Managing Your Human Resources

Your human resources are the literal backbone of your company. Make sure you’re allocating some part of your IT budget into upgrading software systems that make filing data, applications, onboarding documents, and other HR-related aspects easier to manage. Doing so lessens your business’s overall expenses in the long run, too.

9. Investing In Training and Development

Investing in training for your employees does not stop at leadership development courses. Your IT budget should also be allocated to training your employees in using your software and equipment. If they continue to struggle with such tasks, their productivity will also take a hit.

10. Working On Self-Service Options

Another efficient way to free up human resources is by investing in self-service IT options. This is great because it allows you to provide online customer support without the use of representatives from your company. Allocating a percentage of your IT budget to developing automated support systems reduces administrative tasks for your IT team.

Spend Your IT Budget Wisely With Managed IT Services From Integr8

At Integr8, we always have your best interest at heart. As the unrivalled managed IT services in Canada and the U.S., we offer numerous packages with many features and benefits.

We’re ready to suggest innovative ways to help make your company an efficient and highly productive place of business.

Get in touch with us today to learn more!

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