Networks, hardware, software, apps, cybersecurity: IT encompasses a wide ranges of products, services, and responsibilities. Budgeting for IT needs has become an increasingly complex exercise, especially since many companies now support remote workers.
At Jurrens & Associates, we understand how difficult budgeting for IT can be. That’s why we help our clients plan for upcoming IT needs and always make sure they have a budget for routine maintenance. This minimizes any costly surprises and helps them maintain a balanced book throughout the year.
Think before You Allocate
When you are preparing your IT budget, take a moment to assess how you spent your IT budget over the last five years. Use your findings to recalibrate your allocations, rather than copying and pasting your number from last year. For example, you may have spent a lot of money maintaining older PCs over the last few years. But if you’ve recently updated to newer machines, you can anticipate your repair and maintenance costs will be lower than in past years.
Plan for 80 Percent
When allocating funds for your different IT needs, it pays to be conservative. Assume the amount you anticipate you’ll need is 80 percent of your actual needs. That way, you will have a buffer for emergent IT costs. You never know when you’ll need to spend the extra 10 or 20 percent in a pinch. And if you don’t use it, you can move the unused allocation to your reserve funds.
Reserve Funds for IT Upgrades
New computers, new apps, and other IT investments all have up-front costs. Building up your reserve funds helps you afford these essential IT updates. Based on past maintenance costs, identify the systems that you should replace or upgrade. In your hunt for new equipment and tools, choose solutions that offer integration and automation to help your team work smarter.
Save Money by Outsourcing
An outsourced team brings a wealth of expertise for the fraction of the cost of hiring a full-time or part-time employee. When you partner with Jurrens & Associates, you gain decades of managed IT and custom software experience and expertise. Our talented team can keep you up and running and help you plan for you future IT needs. Looking for help putting together your IT budget this year? Get in touch with the team at Jurrens for expert advice.