How can I optimize my IT spending?

Published on September 2, 2024

Davey CatterlinLinkedIn
  • Technology
  • Security
  • Consulting
Myrtle Beach, South Carolina, United States, United States
In an era where technology is integral to business success, managing IT spending efficiently is crucial. Overspending on IT can drain resources, while underinvestment can leave your company vulnerable and uncompetitive.
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Published on September 4, 2024

Amar VirLinkedIn
  • Consulting
  • Education
  • Financial Services
  • Insurance
  • Technology
Sandy, United States
If you're running a small or medium-sized business (SMB), you probably know how quickly IT costs can add up. The good news is, there are several ways to optimize your IT spending without compromising the quality or performance. Below, we will dive into some practical tips and tools to help you get the most out of your IT budget. 
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Published on September 2, 2024

Sapientia (Spent) ThomasLinkedIn
  • Healthcare
  • Hospitality
  • Legal
  • Manufacturing
  • Education
Ballston Spa, United States
One of the most common requests consultants get from small businesses is about reducing IT costs. While in some cases that’s necessary and beneficial, IT experts will often use the term “optimizing spending" when discussing IT budgets because it’s a bit more reflective of the underlying questions that most businesses have when they’re reaching out for help.  “How do I know if I’m spending the right amount of money on IT for my size business?” and “How do I know if I’m spending money on the right tools and IT infrastructure?” Optimizing spending generally means reducing or removing unnecessary or redundant IT tools while re-allocating those saved dollars in proactive ways to save your small business from future IT Emergency or hidden costs. While there’s no exact formula that IT professionals use, there are a handful of ways IT consultants determine how much and on what services a specific business will get the most ROI from.  For larger companies of 500 – 2,000 employees, “how much” can usually be determined by finding the typical IT budget across a specific industry. Hospitality, for instance, typically spends 2-3% of their annual revenue on IT, where as software or tech companies can spend as much as 16-19% of their revenue reinvested into IT.  For smaller companies, “how much” varies widely, and the IT solutions that small business invests in depends heavily on a business’s industry, 1-5 year business goals, and immediate challenges.
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