Budget-Based Best Practices for Replacing Essential Tech
Proper forecasting can get a business through lean times and set it up for sustained growth. But with all the unknowns and shifting variables, even the most skilled analysts must be thorough and strategic in steering the businesses toward continued success.
That often begins with a clear picture of the IT needs of your team. Because without the right growth-focused tools, the road ahead will be full of frustrating starts and stops.
Use these destinations to guide the journey as you map out your 2023 tech budget.
1. Be discerning about tech trends.
Venture capitalist Peter Thiel describes technology as, “’that which is changing fast’. If the other things are not defined as ‘technology,’ we filter them out and we don’t even look at them.”
Consider this encouragement to not just follow IT trends, but really analyze them. Anything can be marketed as the next big thing in tech, but only a few will live up to the hype.
Instead of overhauling your tech stack or laptop fleet every time something new hits the shelves, be selective and carefully catalog what may be suitable to help you advance to the next phase of your mission.
If you’re trying to balance what’s trending from what’s staying, consider doing a deeper dive into technologies that utilize or are capable of supporting:
- Artificial intelligence
- VR + AR
- Machine learning
- Blockchains
- Cloud computing
- 5G networks
- IoT technologies
- Digital environments like the Metaverse
Most of the above require the aid of a high-performing machine to support your tech-savvy workforce. When selecting your 2023 devices, be mindful to view them through a hybrid work lens. That usually equates to functionality like extended battery life, a minimum CPU speed of 2.5GHz, and sizable solid-state drives (SSDs).
2. Prioritize strategic equipment purchases.
Realistically, you’ll probably need to update at least a few laptops and computers around the office. Even if you do so gradually, be sure to set aside enough funds to replace the majority of the machines in rotation.
It’s always better to swap out equipment before it starts acting up, lest you risk losing valuable data and uptime. The general recommendation is to sunset a laptop between years three and five. And though it may technically outlast that timeframe, you never want to push it. Once a machine runs out of storage to support advanced applications or complete critical security updates, it becomes a liability.
Some signs you’re ready for an update include:
- Noisy internal fans
- Difficulty multitasking or program switching
- Slow startup and shutdown times
- Outdated security systems
3. Never let data security out of your sight.
That last one can’t be overstated. Increasing cybersecurity threats don’t just jeopardize the survival of your business. In some cases, it’s literally life or death.
According to a Gartner roundup of 2023-2025 Cybersecurity Predictions, “By 2025, cyber-attackers will be able to use operational technology environments as weapons successfully enough to cause human casualties.”
If you do nothing else going into the new year, make sure you invest in:
- Enterprise-level firewall
- Current antivirus software
- On-site video surveillance (if applicable)
- Management software that allows for monitoring and advanced access controls
- Company-issued devices instead of BYOD program
- Cloud technology with advanced encryption
“Unlike marketing, sales, engineering, and support — where ROI can be more easily explained — the math of cybersecurity’s ROI is not simple,” explains TechTarget. “However, with the costs and occurrences of data breaches rising by the minute, securing budget and ensuring it is spent appropriately are more critical for today’s CISO than ever before.”
In other words, if you’re looking for a place to cut costs, keep looking.
Cruising into the new year, remember that your workplace technology is second only to your workforce. Outdated, unreliable equipment really pumps the brakes on your team’s productivity. Budget with these three pit stops in mind and you’re more likely to have a smooth ride.
Content created and provided by ONEAFFINITI.
