How your organisation can future-proof your IT budget this financial year
As the financial year begins in full swing, IT Managers and CIOs around the country are getting stuck into their spreadsheets. After a year of inflation, increasing cyber threats and talent shortages, organisations around the country are looking to make the most of their budgets, bolstering resilience and setting the stage for growth.
But how do you accurately forecast your IT spend in a time where the future seems somewhat uncertain? And are there ways you can reduce costs without compromising your security or customer satisfaction?
At Truis, we've helped out customers future-proof their IT budgets with enterprise-grade solutions for decades. Our approach? Take stock of your current situation, and then strategically plan for the future. Here’s how you can implement the same approach in your organisation.
Take stock of your IT infrastructure
Before you start allocating funds, we always advise our clients to assess the entire ecosystem of their IT environment. You’ll want to determine all of the upgrades and refreshes required across your hardware, software and network resources in the next year, as well as proactively plan for growth within your company, and how that will affect your resources.
Remember that extending the life of outdated infrastructure, while cost-effective, will often introduce new challenges to your business, such as security threats and unplanned outage issues. Here are our top three focus areas when planning your IT budgets.
1. Your hardware endpoints
Inventory all servers, computers, data centres, switches, hubs, routers and physical equipment that falls under your team’s purview. Check which devices or equipment will require replacements, upgrades, or expansions, so you won’t be surprised by additional costs later in the financial year.
2. Your software licences
Start by creating a detailed list of all software applications that are used by your team. We recommend noting down the current costs, numbers of seats, and payment plans. Send the list around to each team to ensure the information is correct — it’s likely you’ll be surprised at how many efficiencies you can implement by eliminating redundant licences, switching to a different licencing structure, or shopping around for a better offer.
3. Your network and security protocols
Your IT network includes all connectivity components from your wired and wireless networks to your internet connectivity, firewalls, and security protocols. The new financial year is the perfect time to assess your network performance and security measures, and whether there’s room for improvement — including potential upgrades, expert advice, or a new scalable solution that will support business growth.
Look for opportunities to reduce costs in the upcoming year
Once you’ve assessed your IT infrastructure, consider how you could change your business practices to trim your budget in the upcoming year. At Truis, we can help you navigate new opportunities that help you reduce costs or increase efficiencies. This is the perfect time to review your processes to try and spot opportunities for improvements.
The new financial year could also be the perfect time to make the switch to managed network services, a leaner option that allows businesses to completely outsource their daily network management. It’s one way that your business can enjoy a high-performance, scalable, and resilient network without the overhead of regular in-house management.
Need support in planning and optimising your IT budgets this financial year? We’d love to help. Book a completely free consult with our expert team.
