Three Considerations for Your Yearly Technology Budget

Around this time, most companies prepare an annual budget for the upcoming year. Top management, particularly the CEO, is responsible for approving the yearly plan that becomes the guidebook for operations that year. As your organization grapples with difficult decisions about prioritizing expenditures, we wanted to give you three bits of advice about utilizing funds to upgrade technology.

Technology has made fantastic leaps in the past 12 months, and leveraging these advancements could lead to better engagement among team members, healthier work-life balance and more productive processes overall. Here’s what we suggest before mapping out your yearly plan:

1. Poll Employees

Before you dive headfirst into digital transformation goals, poll your employees about what they need to be successful. Perhaps they want a way to connect face to face with clients or other coworkers across the country because they’re tired of flying to meetings. Or there may be issues with uptime or phone connections. Regardless of the specific issues, it’s important to arm employees with the resources needed to do their best work. Encourage open dialogue about what’s working—and what’s not—and factor that into your annual plan. Once you’ve unpacked common issues, create a wish list or suggestion box that the annual budget could potentially address.

2. Shadow Your IT Team

As you’re mapping digital transformation goals, it’s imperative to spend time with the folks who resolve your organization’s problems. If those people have repeatedly received complaints from users that the phone system is confusing or the online portal consistently crashes, those are areas to focus in on and upgrade. While you’re spending time with your IT team, also pay close attention to redundancies or ways to streamline tasks. If you’re noticing your IT team spending a lot of time troubleshooting, perhaps it’s time to update that system or outsource certain tasks so your team can focus on the bottom line. Interested in learning more about aligning business and technology in the age of shadow IT? Check out this blog.

3. Check Assumptions

Many IT leaders assume technology upgrades are expensive, difficult to deploy or not much better than what they currently have. If you’re considering using annual funds toward improving technological functions, it’s worthwhile to hire an expert to assess your IT landscape and make custom suggestions that could transform the way you do business. In this case, you want to work with a non-partisan, value-added reseller that is stocked with expertise and options. When it comes to technology, it’s easy to get trapped in a narrow view of your resources, especially if you lack the time to really consider ways to better support your infrastructure. By consulting with a third party, you can learn about the wide variety of upgrades available. And, if you want to learn more about getting the most out of a technology-driven workplace, read our article.

Technology Has Come a Long Way in 12 Months

Like we said in the opening, technology has positioned us well to succeed. Many organizations can now fully support remote workers, for example. And, with more efficient processes, organizations have more time to think critically about the future and attaining business goals.

If you’re interested in digital transformation for 2019, and have the budget to support it, contact us today.

If you’re interested in learning more about digital transformation more generally, check out our blog, “How Digital Transformations Will Change in 2019.”