On average, companies spend 8% of their revenue on tech and IT services. That could mean thousands to millions of dollars, depending on the company’s size. What’s more, most business leaders expect their IT budgets to rise in the coming year.
Clearly, IT is not cheap — and it’s only getting pricier as demand for digital transformation and cybersecurity soar. But the good news is, you can save money on IT without compromising your company’s digital performance. Here are seven proven ways to do just that:
1. Switch to VoIP phone services
You probably pay too much for communication if you still rely on the traditional telephone system to make business calls. It’s about time you switched to VoIP (Voice over Internet Protocol), the most cost-effective telephone system for business. According to VoIP providers, you can simply slash your monthly telecom costs by more than half by adopting internet-based phones.
In addition to cost savings, VoIP comes with a myriad of useful features such as virtual meetings, video/audio conferencing, automated call routing and answering, voicemail-to-email, and call analytics.
2. Ditch physical workstations for virtual desktops
Getting a desktop or laptop computer for every employee can be quite expensive. So, rather than purchasing the actual hardware, it makes more economic sense to sign users onto virtual desktops. A virtual desktop infrastructure (VDI) is a computer operating environment that runs on a “thin” endpoint, which only supports WIMP (windows, icons, menus, pointer) interactions.
There are countless Desktop-as-a-service providers offering all kinds of virtual desktops on a subscription basis. You can also set up your own VDI on a local server.
3. Migrate to the cloud
Besides virtual desktops, the cloud provides several other cost-cutting IT capabilities, including virtual data storage, systems development and hosting platforms, and virtual workplaces. Enterprise cloud services are invaluable when it comes to cost saving. It’s one of the main reasons enterprises are so keen on moving their workloads and data to the cloud.
4. Upgrade your aging hardware
It might seem counterintuitive to buy new hardware in the name of cutting costs. But saving money on IT services starts with updating all your old equipment. Older hardware is often inefficient, slow, and prone to downtime, meaning it costs more to run than newer equipment. Plus, outdated IT systems are more vulnerable to cyberattacks.
While you can’t really put a finger on the cost of IT performance, running your IT processes on the latest systems definitely makes for a better bottom line. It could be through lower energy consumption, faster workflows, or higher quality outputs.
5. Keep up with security updates
Cyberattacks are becoming increasingly rampant, sophisticated, and devastating. According to IBM, a single data breach costs, on average, $4.35 million. That’s a financial loss you don’t want to risk. Reinforce your cybersecurity posture in the following ways to avoid falling victim to crippling cyber incidents:
- Educate your employees on cybersecurity
- Install the latest firewalls, antimalware tools, and threat detection systems
- Continuously back up all your data
- Secure your endpoints and networks
- Implement robust authentication systems, preferably multi-factor authentication
- Enforce a strict zero-trust security policy
- Evaluate and update your cybersecurity posture regularly
6. Review your software licenses
Audit your software and user licenses to determine how much you spend on software applications. From there, you can determine what’s really worth paying for while considering less expensive alternatives. For instance, you might come across inactive user accounts, redundant services, or unnecessary software licenses that only pile on the IT budget.
7. Get proactive support and maintenance services
Proactive IT support and maintenance ensures your IT infrastructure performs optimally in terms of reliability, efficiency, security, and cost. A proactive IT management style prevents costly technical downtime and cyber incidents by resolving minor issues before they escalate into disastrous problems.
Regarding cost-conscious IT management, GB Tech is here to lend you a helping hand. We understand the importance of maximizing IT performance while checking costs. That’s how to get the most out of your organization’s IT investment — and our world-class managed IT services ensure that you do. Contact us to start your tech optimization journey with a caring IT partner.