IT is integral to business, and along with staying ahead of new technology needs and security requirements, fiscal planning is crucial. Budgeting for upcoming projects, maintenance and upgrades requires diligent thought and preparation, including an assessment of your future capital and operating expenditures.
Evaluate the Value of IT
Businesses need technology like humans need air. However, each operation is unique and the types of technology, productivity tools, and security requirements differ from business to business. Take time to talk with each department about what they use, how they use it and what they might need.
Review What you Have
Knowing what you have is a great start to knowing what you need. When was the last time you took an inventory of your hardware, software and subscriptions? Take time to review your inventory, and then prioritize upgrade and replacement needs to fit into your overall budget.
Forecast for the Future
Technology changes rapidly, and there is a continuous stream of new products and solutions to help businesses improve productivity and security. As your infrastructure ages, there are many options for replacement, such as virtualizing or migrating to a hybrid cloud environment.