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Your operations are, more or less, contingent on your budget. As such, your business will rely on its budget to guide it fiscally through the next year of operation. Unfortunately, IT resources care little about your budget, and you can see this in how unpredictable it can be. We’ll discuss ways that you can keep your IT budget from breaking the bank, as well as how you can improve success over time through proper management of your IT assets.

How to Approach Your IT Spending
It might seem like IT is simply another cost of doing business, but we urge you to resist the temptation to lump it in with resources like electricity and air conditioning. Instead, you should consider how your technology (and its current state of being) affect your organization in the grand scheme of things. If your technology doesn’t work properly, your employee morale could suffer, as well as productivity slowing to a halt. Your income could be affected as well, creating a major issue for your business.

An IT budget needs to take a lot of information into account. There are countless costs that can be associated with information technology, and that’s without mentioning what it takes to train your staff to actually take advantage of these solutions. The right IT budget will also include even minor inconveniences that come from setbacks you could potentially increase. For example, are you paying too much for a multifaceted solution when in reality you only need one of its features? Are you throwing away money on unused solutions that could be better spent elsewhere within your organization? Even if you have technology solutions for your business, they are only as effective as the way you’re using them.

Overall, you should consider your IT budget an investment. Some of it might be seen as a business expense, but overall, much of the spending will be dedicated to eliminating waste and unnecessary expenses. No matter how you see it, your IT should be used to put your business in a positive financial situation.

Encouraging Financial Wellbeing with an IT Budget
If you don’t know how to proceed with developing an IT budget, we’ve put together a list of topics to consider:

  • Have a set budget for your IT: If you’re going to implement solutions, you should have a set budget for your IT that cannot be exceeded so as to preserve funds for other endeavors. Invest in business-enhancing solutions: Whether it’s boosting productivity or protecting against threats, you’re trying to improve your organization. Your IT budget should be dedicated to preserving this status-quo.
  • Don’t shoot from the hip: If you’re not investing in IT properly, you could wind up in a nasty situation where your IT spending is actually holding you back. You should invest funds to where they need to go, but most importantly where they can make you more money.

Does your business need help with managing an IT budget? Palindrome Consulting can help. To learn more, reach out to us at 305-944-7300.

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Elizabeth Mitrani
Elizabeth Mitrani
17:23 06 Aug 19
Palindrome Consulting was key in establishing my business and helps me keep it running. They are the consummate... professionals, incredibly knowledgeable and are always available to help. They have gone above and beyond to ensure that I was up and running quickly and that any issues that may arise on my end or dealt with immediately. I highly recommend Palindrome Consulting.read more
Moshe Rubinstein
Moshe Rubinstein
14:57 28 Jun 19
They are there every step of the way. Responsive and timely. The full service mentality mixed with the problem solving... abilities, is what makes them an easy choice.read more
Benjamin Wainberg
Benjamin Wainberg
14:09 28 Jun 19
Palindrome Consulting is customer centric. For Palindrome Data Safety is paramount; they keep their and our systems... updated with the newest technologies and are not shy at changing to better alternatives. Their platforms are always running and in the odd case there is an event, their technical team has an awesome response time.read more
Copier Man
Copier Man
13:56 28 Jun 19
We have been using Palindrome since 2005. They make my company feel like we are #1 all the time. Expert staff are... always available to help all my users all around the country.read more
Martin Feldman
Martin Feldman
16:43 26 Jun 19
As a partner in Fischer & Feldman, P.A. we have utilized Palindrome Consulting as our IT experts for many years. In... addition to keeping our server up and running, they are available to consult on the everchanging cloud and web landscape. We could not function as a successful law firm without their constant care, attention and almost IMMEDIATE RESPONSE TIME.read more
Rebecca Fischer
Rebecca Fischer
16:39 26 Jun 19
Palindrome has been my IT company for more than 15 years. We have been through four server and computer replacements... over the years all of which went smoothly. As technology has changed Palindrome has kept us current in their recommendations and are extremely responsive when we run into a software or hardware problem. We have been through hurricanes with Palindrome and felt confident they would have us up and running as quickly as possible and despite the fact we are probably a smaller client, they have treated us as one of their most important clients. I highly recommend Palindrome and have complete confidence in their capabilities and service. They have even gone the extra mile when we wanted to donate our old computers to a children's special needs school and delivered the computers, set them up and provided service for the same. Ilan Sredni is the consummate professional and has surrounded himself with top professionals and skilled technicians.read more
Nelson T
Nelson T
20:32 25 Jun 19
Palindrome Consulting has proven itself time and time again to be the epitome of professionalism and technical... expertise. They take the time to listen to your needs and then apply their wealth of technical knowledge to create truly innovative and robust solutions. They truly deliver piece of mind.read more
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