Planning Your It Budget? Don’t Overlook These 6 Factors

Learn how to strategize your IT spending and which technologies are best to invest in.

Published 10 Nov 2021Updated 17 Apr 2023

It’s a fresh beginning of another year!!!

Yeah, the New Year is here. Are you ready with your New Year resolutions? I am sure every one of you has set more than one. However, entrepreneurs have one target with them to achieve that repeats every year. It’s about maximizing profit.

Organizations are experiencing avant-garde transformation by adopting innovative technologies. They are enjoying agility in obtaining their business goals, as advanced technologies streamline and automate their operational, administrative and marketing processes. But, what about investment? While aspiring for higher revenue, one cannot ignore the bottom line.

We write down this post for all those entrepreneurs who are willing to embrace advanced technologies but have budget constraints. Let’s see how to strategize your IT spending and which technologies are best to invest in this year.

1. Seek for Powerful Presence on Mobile

There are businesses that are satisfied with having a website that is not even mobile-friendly. Might be they are getting good business, but sorry to say they are losing their valuable customers and competitiveness in the market by avoiding boosting mobile platforms.

Nowadays, organizations have to deal with tech-savvy clients who use their smartphones for searching any stuff, accomplishing their routine tasks and even making a purchase decision. Creating a mobile app or website enable those to explore your products and services and make a buying decision instantly.

Introducing the BYOD concept, the smartphone helps organizations to empower employees’ productivity by allowing them to perform their job anytime anywhere. So, develop a mobile app not to cut down your IT budget, but to reach out the larger target audience and generate huge revenue.

2. Migrate to The Cloud

Eliminate the cost to set up a personal server for hosting your website, application or software. Well, server installation requires IT infrastructure and proper maintenance to work smoothly. That again increase your IT spending. Cloud Computing Services enable organizations to host their website or other solutions in a shared environment. It directly saves a big amount from your budget.

Go for the private or public or hybrid cloud where you need not establish and maintain a separate IT infrastructure. Entrepreneurs can create a virtual office to run the business and connect with the company from anywhere, at any time. On the other side, technology has its own risks for compliance, security, and privacy.

Gradually, organizations have started using web-enabled devices to have easy access to data. Amazon Web Services and Microsoft Azure are breakthrough cloud computing platforms for your infrastructure needs. These platforms take care of your data security and allow you to focus on what you do best.

Eventually, cloud computing helps you in achieving reduced overall IT cost, business continuity, access to automatic updates, scalability, the flexibility of work practices, collaboration efficiency, and much more.

3. Integrate Ready to Use 3rd Party APIs

No need to develop a separate software or solution for your every need. There are several APIs available in the market for free. They may not be perfect as per your requirements but they are very near to what you are looking for. Try to utilize as many free APIs as you can. It cuts off your costing to develop new tools or solutions. Moreover, it decreases the dependency and allows to move ahead in order to achieve the target faster.

4. Outsource to Highly Experienced IT Company

You will find a list of IT outsourcing services providers with a single search. You can have several options to choose from. However, identification of the best one is really a tough job, as everyone offers exclusive commitments. Analyze work portfolio of IT outsourcing providers; you can have a brief idea about the excellence and expertise of the company.

Ask all your queries before the project confirmation. If you get an adequate understanding and answers of your questions and confusions, then tie up with that IT service providers. Outsourcing to experts aids you in developing the solution quickly with advanced features and functionalities.

5. Move to Virtualisation

One of the most emerging technologies these days. Virtualizations facilitates organizations to run their multiple operating applications and systems from a single computer. It combines hardware to attain immense productivity from fewer servers. The adoption of virtualization enables enterprises to reduce the IT cost by 50% as well as simplify and speed up IT maintenance and management.

Virtualization helps in boosting IT agility and efficiency by reducing the overall IT expenditure. It seems quite complicated to adopt the technology in the current time, as it is in an emerging phase. But, you can definitely consider it as an option for your future IT needs.

6. Digital Marketing

Marketing and advertising require hard efforts to promote the business and derive customers. Thus, it becomes a headache for entrepreneurs to manage both operations and marketing. Here, you can simply select digital marketing experts who work for you. Promote your business through various online marketing channels such as social media, forums, e-mailers, and much more.

Maybe you feel outsourcing to an expert again add some amount to your budget. But, it is highly recommended to take the help of digital marketing experts to have channelized marketing efforts and reach out to a wide consumer base. It will end up delivering lots of branding benefits in the future.

There are many other hi-tech technologies that help organizations in boosting their business efficiency, but those technologies are quite tough to adapt to in the present scenario. Because either they are in the emerging stage or required a large investment or are not available for small to mid-scale organizations.

Being one of the early adopters of web and mobile technologies, Intuz experts continuously study the latest and upcoming technology trends to facilitate the readers with thorough guidelines about how to utilize technologies in real-time to automate and optimize business processes.

Have A Wealthier New Year Ahead!!

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