If this year has taught us anything, it’s that businesses must remain alert and agile to be ready for what’s coming. And while the “R” word (recession) looms large in conversations, many businesses are only focusing on how they can cut IT costs as a strategy to shore up their businesses.
Yes, it is imperative to manage cash flow, but you also need a solid IT strategy in place to ensure your business doesn’t lose efficiencies or productivity. Let’s look at how you can set up your tech management to right size your spending while keeping IT running smoothly.
Step 1: Leverage the Capabilities of What You Already Have in Place
Your company has likely already invested in tools and technologies you’re not fully using. For example: Office 365. Most companies only use about 10–20% of the 12+ products housed under the Office 365 umbrella. Why pay for what you’re not using?
Squeeze every possible dollar out of the money you are already spending and, as an additional benefit, you’ll find more tools you didn’t know you had that can help you be productive.
Step 2: Consider an MSP as an Alternative
While it may seem counterintuitive to add IT costs to your budget right now, hiring a managed service provider can actually save you time and money in the long run. Because agreements are based on the number of computers or users you have, you’ll spend less if your staff shrinks during hard times.
Outsourcing IT to an MSP like itSynergy can help you gain efficiencies, improve operations and provide cost flexibility based on your IT needs.
Step 3: Re-Engineer Your IT Strategy
If you often find yourself in reactive mode with regards to your IT (focused on dousing whichever flames are highest on a given day), it can be hard to make appropriate adjustments during financially challenging times.
On the other hand, if you have a solid, effective tech management strategy in place, it will be easier to make decisions and adjustments as conditions change. Look to see what internal resources you can leverage, and reach out to outside experts to fill in the gaps.
Step 4: Don’t Skimp on Cybersecurity
Another new expense? Sheesh. And yet, investing in cybersecurity right now is absolutely critical for every company. With so many people working remotely and with new technology in place, there are new vulnerabilities that put your IT systems at risk. If it has been a while since you conducted a security audit, make the time to do so, soon.
Step 5: Be Wary of Making Long-Term Decisions During Short-Term Change
As overwhelming as the current financial crisis can seem, it will end. At some point, we will recover and move on. Guard against making big, long-term decisions during a recession. If you’re considering a major overhaul of your IT systems, put the decision off and find a stopgap solution that keeps your systems chugging along until things have normalized. You don’t want to make a major investment that you may not be able to afford if things get worse.
Find a Partner Who Can Help You Navigate These Murky Waters
These are certainly unprecedented times, and your business is addressing plenty of concerns without adding tech management to the workload.
Most day-to-day tech team members do not have the skillset to really take a 360-degree look at their larger IT strategy. Partnering with a managed service provider who doesn’t simply “check the boxes” in terms of IT services, but who actually offers a consultative approach, can provide you the level of IT expertise you need to make important high-level decisions about your business’ IT needs.
Ready to recession-proof your business? Call itSynergy to set up your risk assessment. It’s a great time to do it!