Technology Budgeting Know How: When and Where to Cut in 2016
Technology is a tool and needs to be managed like one.
There are 3 laws for investing in business technology:
- Technology should provide convenience.
- Technology should produce efficiency.
- Technology should promote a competitive advantage.
A few notes on Convenience: Your technology should remove stress from your work day and make tasks easier to accomplish. If your technology doesn’t allow you to grow your team and be more profitable, it’s the wrong kind of technology!
A few notes on Efficiency: In order to qualify as efficient, technology really needs to improve workflow and remove road blocks in the work day. All parts of the network should work as expected to maintain up-time. It’s reasonable to expect for planned outages, which actually help with efficiency in the long run.
A few notes on Competitive Advantage: To get ahead of your competition, select technology solutions that won’t hold you back from growth. Work with a consultant who can offer technology that will make money while also assisting with on-boarding employees and customers/patients. The right infrastructure will ultimately serve your business goals at each stage of business.
How are you spending your IT dollars?
Consider instead of the reactive repair dollar, the proactive change!
.30 cents to Infrastructure
.30 cents to Preventative Maintenance & Security
.20 cents to Strategic Planning
.20 cents to Support
Every other tool in your business can be measured and produces a quantifiable ROI. Learn to get the numbers out of your IT or go buy a boat!
3 Numbers every business needs from their IT:
Itemized Expenditures (AKA a solid IT Budget)
Asset Management and Lifecycle (AKA manage the hard cost)
Productivity Metrics (AKA show the cost benefit to each IT intensive process)
3 Rules to getting IT done (and your job done too…)
1.Determine Delegation Task
2.Evaluate Delegation Pool
3.Defining Responsibilities Before Issues Occur