4 Ways You’re Wasting Money on Your Technology

Every day businesses have to mitigate risk when they consider their IT budgets. They have to take time to understand that if their budget is X, they have to choose between the things that they want most and compromise to balance their risk while still maintaining optimal productivity. It’s a fine line and can sometimes feel a little bit tight. Are you struggling to find room in your technology budget to complete new projects, upgrade your existing infrastructure or try out a new software? There could be some room in there that you’re not seeing. If you’re looking to get more out of your IT budget, it might be time to look at how you’re spending your money. Here are 4 ways that you’re wasting your money on your technology.

1. You bought the exact same workstation for everyone.
   Many people think that the better the machine, the less frequently they have to replace it. To a certain extent this is true, but you also have to consider that machine’s use. Purchasing a ton of the same machine because it’s easier might work out well for you from a convenience perspective, but the reality is that different roles require different machines. A graphic designer in your marketing department might require more storage space, so that large resolution images and advertisements don’t bog down their machine. Some users might spend more of their time in a cloud-hosted application, like Salesforce for your sales department, while your administrative team spends a lot of their time in files and processing documents. Matching a workstation to the employee’s role and customizing it accordingly will save you money in the cost of the workstations and also in productivity while the machine is being used. Remember that changing out your workstations on a predictable schedule will help maintain a consistent budget and quality machines.
2. You’re paying for too much cloud storage.
   While in some cases the “more is better” adage rings true, paying more for cloud storage “for the future” just doesn’t make sense. Because of the way cloud services are priced, you never want to pay to “grow into” your storage. Many cloud services can be upgraded as your organization grows, which saves a significant portion of your monthly subscription. Your provider will let you know when you’ve exceeded your storage allocation and help you choose a new plan when the time comes.
3. You’re not using your SaaS applications.
   It’s easy to get excited about new project management, industry or sales applications that could be useful to your employees. Truth be told, when it comes to workflows and processes, you have to consider how a new software will factor in to that. If your employees are very set in their processes, a new software introduction should be carefully planned and orchestrated. Rather than investing in new software haphazardly, make sure that your employees will use it and it can supplement their workflows properly rather than causing more headaches or data entry work on their part. There’s nothing worse than being struck in a contract on a software application that your employees don’t use.
4. You haven’t renegotiated your vendor agreements.
   When your vendor agreements expire, it’s easy to just renew the contract that they send. But the fact is that shopping around for other services could be a huge cost savings. Often, companies are offering promotions to their new customers and it’s really as simple as asking for a special promotion. Vendors like internet, VoIP phone service and other contract services run regular promotions. Your Managed Services Provider can often handle these negotiations on your behalf to ensure that you’re getting the most for your money.
5. You’re spending too much on gadgets.
   If you have a lot of tech-savvy employees or millennial employees, they can get very excited by the latest gadgets. While tablets could potentially be a game changer for those that are on the go, make sure that you’re not investing budget in extra gadgets just because. If an employee wants a new gadget, have them answer a few questions and provide you with some applicable uses for it. This will help them brainstorm new ways to use the technology and make sure that it’s something that will truly assist them from a productivity perspective.

Technology is exciting. We’re lucky enough to help a wide variety of companies discover new technologies and manage their budget along the way. We’ve seen a lot of wasted money, saved hundreds of thousands of dollars for our clients and innovated their workflows and productivity along the way. Regardless of your technology budget, you always have to mitigate risk and make the best decisions for your unique needs. Engage a professional to assist you in choosing the technology that will work for you before you spend your budget on things that may not yield the value that you need from them.