Business Success Depends On Strategic Technology Budgeting

IT Budget Planning Helps Meet Business Goals in 2020 and Beyond

Discover why your business needs an IT budget in 2020 that aligns your technology needs with critical strategic priorities and how to get help to build one 

In 2020, businesses are expected to leverage technology at every turn to satisfy customers, drive efficiency and improve profit margins.

The critical role of technology today means IT planning that’s integrated with your strategic planning and budgeting. Aligning your technology needs with broader business goals lets you plan for and leverage innovative tools and approaches. A recent survey found that IT budgeting priorities include security (63 percent of respondents), cloud services (48 percent) and employee training (44 percent).

Here are some of the key benefits behind the importance of an IT budget in 2020.

How Does IT Prepare for Business Evolution?

Having an IT budget in 2020 helps your business stay ahead. Budgeting is important for both short- and long-term results. In the short term, there are basic operating issues that need to be accounted for — software that needs to be upgraded (for example, the Windows 7 operating system will no longer be supported as of mid-January 2020) and hardware that needs to be repaired and replaced. Planning for PC replacement, for example, helps keep your employees working on the latest machines and reduces the risk that laggy, older computers slow down work. It’s also about leveraging new tools that can keep your business at the forefront of product and service innovation, outstanding customer service and transformational new business models, business processes and revenue streams.

How Does IT Budget Planning Help With Maintenance?

Machines are going to have problems. They are used too often every day. When those machines — whether they’re desktop computers, laptops or servers — stop working, it’s a costly issue. Not only will business potentially grind to a halt, but you’ll also need to pay for repairs.

Today’s businesses can use tools that reduce the risk of downtime and maintenance. Automated monitoring detects issues before they become problems. Software can be updated automatically via the cloud, giving your employees the latest updates and new features that improve workflows. Break-fix maintenance is no way to plan for your IT needs.

Can IT Budget Planning Keep Data Secure?

Increasingly, states, countries and regions where you do business are setting stringent data security guidelines. IT budget planning can help you manage new data regulations imposed by government bodies or new regulatory mandates. Using technologies like cloud storage, business continuity and disaster recovery, firewalls and anti-malware and anti-phishing software keeps you and your data protected.

How Can IT Budget Planning Help With the Big Picture?

When you work with an outside IT expert like SemTech IT Solutions, you have a thinking partner ready to discuss your greatest business challenges and opportunities. SemTech experts can identify technology solutions that help in 2020 and in future years. By planning the projects, technologies, budgets and timelines of these important investments, you can align your IT work with your strategic priorities.

To learn more about how SemTech can help you with an IT budget in 2020, contact us today.