Keep These 3 Technology Budget Categories in Mind

By Samudra Vijay In Blog

17

Nov
2022

Keep These 3 Technology Budget Categories in Mind

Are all relevant technology categories considered when developing your annual budget?

Any modern company, including yours, must use technology, but it’s easy to focus solely on the routine services that keep the lights on. This can lead to you overlooking important budget categories, leaving you in a bind when unexpected needs arise.

Continue reading to learn more about three critical budget areas that are frequently overlooked in business: projects, refreshes, and accidents/incidents.

Do not disregard these categories

You can ensure that your business has the resources it needs to succeed by making an effort to budget for the following categories. If they are not anticipated in your budget, you may need to change your strategy.

Projects

It’s easy for a small business like yours to put off important IT tasks, such as network security, but doing so exposes you to threats. Hackers can quickly gain access to your network if your employees use unsecured Wi-Fi. Free Wi-Fi hotspots put your network at risk of compromise, evil twin attacks, and exploits. The best way to avoid these situations is to provide your entire team with a secure VPN work environment. Employees can connect to a secure network in this manner, protecting your company from potential threats.

Refreshes

You must ensure that your technology infrastructure can support your company’s growth. One approach is to perform routine technical updates. This necessitates regular hardware and software upgrades.

While maintaining old systems may appear to be a simple or financially sound option, doing so may reduce staff productivity and negatively impact your bottom line. If your security patches are out of date, your vulnerability to hackers may even increase. You can make sure your business is always utilizing the most recent technology by routinely upgrading your infrastructure. Accidents or Incidents

Cybercriminals are constantly looking for new ways to exploit businesses in the event of a mishap or incident. In the case of a ransomware attack, for example, a cybercriminal may demand a ransom in exchange for the decryption key, which could overwhelm you.

If you don’t have a solid backup, you might have to pay a ransom to prevent data loss, and you might not even get your data back. As a result, your company may suffer financial and reputational harm. You can defend yourself against today’s complex attacks by investing in the appropriate security solutions.

How We Can Help

When you try to cut costs, you risk overlooking important budget categories like the ones mentioned above. Working with an IT service provider like us can help you avoid this. We can collaborate with you

to develop more cost-effective solutions and identify any areas where you may be overspending or underspending.

Furthermore, we can monitor your IT budget to ensure that no critical costs are overlooked.