3 Ways Business Technology Affects Your Bottom Dollar

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Business Technology

Most business owners know that they need to budget for IT equipment, software and services. However, many do not take into account the other ways that technology can affect your bottom line. By having a full and clear picture of your technological needs, you can make smarter business decisions that will protect you from surprises and may even save you money.

1. Foregoing security is expensive.

Network security can be a hefty investment. However, the costs of the right security pale in comparison to those potentially incurred by foregoing the security standards that will help keep your business and your customers safe. Choosing the right measures now can save you money and can protect you from negative consequences in the long run.

2. Storage costs can be hard to predict.

Buying too much storage means paying for services and equipment that go unused. But, failing to pay for enough can lead to emergency spending later on and business slowdowns while storage dilemmas are solved. Work with experienced professionals to make sure that you are using the right storage options for your business. For instance, expandable cloud storage is a great, flexible choice for many businesses. For some applications, you may wish to have a combination of on-site and cloud storage for protection.

3. Always remember the total cost of ownership (TCO).

IT costs don't end when you buy a piece of equipment or a license for an application. Training, maintenance and other costs should be figured into your budget to make sure you stay on track. Experts say that a piece of equipment's initial cost only represents 20% of the TCO over its life. Optimizing your operation can help you cut your TCO and spend your money in the ways that get you the most bang for your buck.

Knowledge and understanding can help you control costs and make your IT investment work for you. We can help you choose the right services and equipment to serve your business well. Get in touch today to learn more about how good IT services can help your bottom line.