Don’t Make These Common IT Budget Mistakes

Creating a successful IT budget takes skill and attention to detail. Even with the most attuned executive team, it can be easy to make mistakes. How can you avoid these IT budget mistakes? Our upcoming webinar on Tuesday, August 16th will walk you through the steps to create a successful IT budget for your company. To register, click here.

Until then, read on to learn the 5 most common mistakes when budgeting for IT:

  1. Underinvesting in training for IT staff: When creating a budget, it can be tempting to cross “training” off the list. Don’t. IT staff training is an investment that will help your company successfully implement and run new technologies that enable long-term growth.
  2. Putting off hardware and software upgrades/replacements: Using outdated hardware and software “because it still works” can be detrimental to your business. This puts your company at risk for complete system failure if/when the outdated systems crash.
  3. Misusing consulting & outsourcing resources: Sometimes it is necessary to bring in an outside consultant to work on a specific IT project. However, if you do not include a knowledge transfer component into your agreement, you are hindering the growth potential and maintenance of your project.
  4. Not investing in backup storage solutions: Different businesses call for different storage solutions. Regardless of what your company chooses, the most important component to remember is a foolproof backup.
  5. Buying the latest and greatest technology (without a plan): In the ever-changing digital marketplace it is easy to get carried away with the arrival of “the next best thing.” Make sure to consult your company’s overall strategic goals and align your IT budget accordingly, rather than impulsively.

Now that you know what NOT to do, join us for our  FREE webinar on Tuesday, August 16th and learn how to create a strategic and successful IT budget. For more details and to reserve your space, click here.

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