As we move into 2020 we’re already reviewing and assigning IT budgets for the coming year. It’s essential to get the best products and services you can with the finances you have, and to optimize your IT spend to make sure you get the most bang for your buck. It’s essential to invest in IT that will improve your productivity, help you achieve optimum efficiency and support your continued innovation. 

The increasing pace of technological change, the pressure to differentiate and to compete effectively are all factors affecting your IT spend. It’s important to set yourself up to thrive by using your IT resources cleverly and making the most of managed service providers.  

The advice below focuses on getting the best possible return on your investment. We’ve highlighted some key advice to help you get the most from your IT expenditure and make sure you’re developing rather than just maintaining your business.  

Choose your technology wisely 

You can be smarter about the money you invest in IT in your business. Savvy business leaders will look at eliminating waste, over capacity and duplication through the use of WhatsApp, Slack, Microsoft Teams and more. You can create a suite of technology solutions that are just right for your business, save costs on the products you don’t need and re-invest those savings in value adding services.  

You need programs and support that are tailored to your specific business objectives, whether you’re managing technology in-house or you’re working with a managed IT provider. Many suppliers will offer bundled solutions and services that come as a package, but it’s difficult to know how many of the solutions your business will use. You may be buying products that you won’t get the full benefit from. The right supplier will tailor IT solutions to  meet your firm’s performance indicators. They will help you to capture and monitor performance data effectively so you can make data-driven decisions and ensure cost optimization.  

You should also look for packages with flexibility to allow you to commission IT support for a given time, one project, or your whole business. You should decide what business outcomes you want to achieve and find a provider that’s flexible and competent to work around your business. Every business is different, so every solution should be different if it is performing at its best. This is counterintuitive in today’s all–inclusive bundles, which seem like good value but tend to have lots of extras that your business doesn’t need. A flexible provider can work around your specific needs and budget.  

Our statistics show that just adding our mobility solutions delivered one customer ten hours more productivity, per employee per month. That saving was achieved through just one smart choice and better use of budget.  This shows that even if you only have the budget or infrastructure to make one change at a time, making the right change can make all the difference.  

Don’t get caught out by additional costs 

In our era of high competition, developing technology and security pressures, many businesses feel under pressure to keep their IT up to date without incurring budget variances.  

Budget variances can be as high as 20–30% per year, and underspending is as inefficient as overspending because it means that your business could be missing out on business-enabling technology advancements and falling behind on innovation.  

Getting the most out of your IT expenditure isn’t about cutting costs – it’s about getting the most you can for your money and making sure your IT is helping your business to be more productive. If an investment of £50,000 in transforming infrastructure results in an increase in productivity of 30% and delivers additional profit of £200,000 then this is good spending. If the amount you need to invest is high, you can consider incremental spending or carefully reviewing your existing spend to look at potential substitutions. 

By seeking help from a managed IT provider you can be sure about annual costs from the start and protect yourself from ongoing unexpected costs for upgrades if you own and maintain IT products and infrastructure in-house. You can be reassured you’re always going to be running effectively without the concern of needing to find more money part-way through the financial year.  

Make the most of managed IT providers 

According to Consultancy Europe, the demand for both application managed services and business process outsourcing grew by 4% in 2019 to £1,033 million and is predicted to rise further, to £1,089 million, in 2020.  

By seeking external support for critical tasks and essential IT services, you can make your budget go further. This means you can generate more profit by freeing your business resources to focus on its core functions. You can take the time to make sure your business is raising the innovation bar. Why not invest in the technology you need to develop that app for you clients? Develop Robotic Process Automation to make processes more efficient and potentially reduce full–time equivalent employee numbers. If your IT is in safe hands, you can focus on providing better experiences for your customers and stakeholders, which can lead to strengthened brand equity and repeat business.  

Businesses can release themselves from the monetary overheads of running in-house functions. If you take steps to outsource to a managed service provider, you have an array of talent and expertise at your fingertips – without the blow to your budget from hiring, training, and maintaining IT staff with the necessary skills and knowledge to help you stay in front.  

Find out more 

You can rely on the expertise of Blue Saffron to help you with all your managed IT needs to help you get the most from your IT budget. We can show you how the right technology can make your business productive, your employees perform better, solve operational challenges, stay safe and compete more successfully in your sector. 

Formed in 2004 and based in London, Blue Saffron has established a reputation for pragmatic thinking and an honest approach to IT. Our client satisfaction ratings average 98%. 

You can get in touch by emailing info@bluesaffron.com or calling 0844 560 0202. 

Further Information

• More about IT for Productivity
• Managed IT for professional services firms
• More about Blue Saffron