How Much Should You Budget for IT in 2017-2018?

Technology takes on a greater role in the workplace every year, and the trend shows no signs of slowing. As more businesses follow IT trends and digital natives continue to enter the workforce, it’s becoming apparent that businesses that embrace technology and use it to its fullest potential are setting themselves up for success. Those that stick with older methods are starting to lag behind.

Allocating part of your budget for IT purposes is more than just a way for your business to get ahead, however. In addition to streamlining your workflows and empowering your employees to work with a new sense of independence, a strong IT budget will also help insulate you from cyber threats – from inside or outside your business.

Budget Trends for 2017-2018

Every business is different, so it’s nearly impossible to create a spontaneous estimate for your company’s IT budget. However, there is an observable trend that small and medium sized businesses tend to spend more per capita than their larger counterparts. This makes sense, as larger companies are more capable of buying hardware and services in bulk. Meanwhile, smaller businesses are more popular targets for malicious parties, warranting extra precautions. All that said, you don’t have to break the bank on IT to find success as a small business; oftentimes the best performers are a bit more frugal and focus on solutions that return results, making it even more important to find a managed service provider that won’t overcharge or nickel and dime you.

As for how IT budgets are being spent, it’s clear that cloud-based projects are on the rise, but hardware and software projects are still dominating most budgets.

The motivations for spending money on IT services, especially with the aim of shoring up security, vary widely. Two motivations stand out above the rest, however: the protection of sensitive data, and regulatory compliance.

What You’re Getting When You Budget for IT

When you allocate the proper amount of money for IT spending, it doesn’t just disappear into some black hole. You should begin to see tangible benefits for your business and employees as professional IT solutions are implemented.

The end goal of great IT is to change the way your business functions for the better. That’s not just limited to virus protection and fabulous cable management. Adopting cloud services can help protect your data and progress against hardware failure. Using a digital workspace fosters collaboration and streamlines workflows.

Managed service providers also offer training and expert knowledge on the latest cyber threats. Additionally, some IT trends show an increased focus on NOC services, which can see threats coming from a long way off. They also eliminate bottlenecks and inefficiencies in your network.

Of course, it’s difficult to know exactly how to budget for IT without some level of professional consultation. 3Points will consult with you to determine your 24-month technology roadmap. Then we’ll recommend the IT solutions that you need without nickel-and-diming you for things you don’t. If you’d like a complimentary audit with recommended solutions and budget guidelines – just drop us a line.