The realities of inflation and a changing economy can make it difficult for any business to survive, let alone thrive. Establishing and maintaining a budget that works for your SMB may be challenging, but it is necessary to remain competitive and run efficiently. When considering the complexities of an overall budget, some companies may wonder if any of their IT services can be scaled back. However, in an era of IoT and ever-evolving technologies, state-of-the-art IT capability is more important than ever. How should your Sarasota small business approach the need for IT competitiveness and rising costs? Here are 5 ideas from our experts.
- Reevaluate Any Subscriptions: One of the easiest ways to save on IT expenses is to consolidate and streamline technology subscriptions. By determining the current need for each subscription – and identifying any overlapping services – you can meaningfully reduce IT costs. Identifying and eliminating empty seats or licenses is also an effective method for tightening up your budget. Begin by asking each vendor to explain what you are paying for, assess your current needs, and renegotiate your contract. Service providers will generally be happy to work with clients to come up with a plan that accurately represents the company’s current needs. When you meet with the service provider, be ready to discuss your business goals and present any documents that show what you are currently paying for.
- Integrate the Cloud: Another way to effectively maintain a realistic IT budget is by integrating cloud service solutions. As they have evolved, cloud-based services have become more cost-effective than traditional on-site solutions- while offering the flexibility that contemporary remote and hybrid workspaces require. By migrating more of your operations to the cloud, your small business can shift IT resources to other tasks. Cloud-based services often include the integration of internet-based VoIP phone systems. In addition, cloud-based servers may provide a secure and less expensive solution.
- Outsource IT Services: The cost of dedicated, in-house IT staff can consume much of your budget – while an outsourced managed services company provides a team of experts with less overhead and expense. With flexible pricing and options, an IT services organization that offers a range of IT solutions can help small businesses in many ways – for instance, by reducing software and hardware costs and optimizing the existing technology infrastructure. SMBs will no longer have to worry about keeping up with expensive hardware innovations, but can still take advantage of the functionality and efficiency these solutions provide. Today’s IT departments face a compelling issue when it comes to the skills gap – it is exceptionally challenging to identify, recruit, and compensate professionals with all the needed IT skills, especially as the technology continues to evolve. Managed IT services provide companies with a significant advantage – allowing access to knowledgeable experts without having to carry the overhead that recruitment and employment represent.
- Prioritize Cybersecurity: Resolving an unexpected issue always costs more than avoiding the issue in the first place. This is especially relevant when dealing with cybersecurity, as cyber-attacks and data breaches can be exceptionally devastating – both financially and in regards to company reputation and goodwill with the community. Proactively making cybersecurity a priority will help companies avoid unauthorized access to customer data while preventing any downtime that can adversely impact the organization.
By routinely reviewing, assessing, and adjusting your IT expenses, you can ensure that your budget for technology is most beneficial for your business and aligned with your mission and objectives. If you need guidance regarding how to take the first steps, call the professionals at Alliance IT – we can help you evaluate your current situation, make recommendations, and deliver the cloud and IT services you require to thrive.
