IT Budget Planning: Are You Prepared?

money-coins-1523383_1920Are you ready for IT budget planning? InformationWeek reports that "getting the job done with limited resources in an era where you also have to invest in technology that provides a competitive edge is one of the challenges of digital transformation." Business leaders are finding that they need to increase IT budgets to meet growing security risks, and hire and retain top talent as the market for expert IT support tightens. 

But how can a business secure its infrastructure, increase efficiency, and remain competitive, all while operating within a predictable budget? The number of concerns and initiatives that businesses must tackle with their IT budget has grown in scale and importance. As a result, businesses are migrating to the safety and security of the cloud. According to the 2018 Insight Intelligent Technology Index Report: 

  • Monitoring budgets and costs is a top technology concern for 52% of companies.
  • 44% of IT influencers identify overall cost increases in infrastructure as their top concern when evaluating the potential of cloud computing.
  • IT budgets are expected to increase by 19% on average. 

Click here to read InformationWeek's article on "Preparing for IT Budget Season." 

One area where businesses often fall short is how they budget for their IT systems. Maintaining existing on-premise systems makes up the largest percentage of overall spend—specifically in meeting security risks and operating everything in-house. In many cases, IT hardware and software that's considered "fine," inevitably ends up catching the IT department off guard with security issues that arise. Every minute that an application or component of a company's infrastructure spends without proper maintenance increases the chances of a devastating failure. 

When looking at IT budget planning, business owners should first consider these important questions: 

  • What are your business goals?
  • How will you achieve these goals with your current IT infrastructure?
  • Where are the gaps?
  • How are you meeting the new challenges of cybersecurity threats and compliance requirements?
  • How can you improve efficiencies across your entire company?
  • Will you continue to fall behind by using the same systems and getting the same results? Or will you leverage the cloud to set your business up for success?

What does your IT budget plan include for 2019? Knowing where your IT systems stand and where you want to go in the next 12 to 24 months will significantly help your strategic planning. Check out our post on IT Budget Planning – Mapping Your Strategy to learn how to start your planning.

Need help planning for 2019?

Are you ready to start exploring options for moving to the cloud? Maybe you’re in the middle of planning and could use some help moving it along. Either way, take a look at the cloud-hosted desktop solutions that IBIS Technology has to offer. We’re experts at planning, moving, and managing enterprise transformations from end to end. It’s what we do. We’ve helped many businesses like yours migrate to the cloud. To learn more, schedule an assessment with us. We’d be happy to set a time to answer any questions and help you get started on your journey to the cloud.

Where are you in your journey to the cloud?

If you have concerns about moving to the cloud, you’re not alone. That’s why we put together this insightful eBook, Ending the Cloud Confusion: Understanding Cloud IT, to help break through the tech talk and demystify the cloud.

IBIS-Technology-Cloud-eBook

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