 |  IT Budget Planning
by Jon Nitto
"Budget, what budget?" At The RetroTechs, we hear this more often than you might think.
As we move through the final months of 2009, I look back (begrudingly) at what was one of the toughest years we've faced. As with most companies, we witnessed a decline in certain areas of our business. Our ability to withstand and adapt can be credited to two things: the knowledge we've acquired from being in business over 19 years and having a budget.
Operating without a budget is the fastest way to erode any success you've enjoyed. During good times, a budget will let you build up your reserves. During bad times, a budget is the difference between staying open and closing the doors. This is why establishing a budget and sticking to it is critical to businesses of all sizes.
So, what's the easiest way to start a budget? Look at your expenditures, year over year, for the past 2-3 years. This will help in two ways: it gives you an average that you can use as a starting point for your 2010 budget and second, and perhaps more importantly, it will highlight areas that you might not have thought of before. And it's always a good idea to consult a professional. Consider asking a trusted CPA, financial advisor or possibly even your banker to help you create a budget. They can get you started on a budgeting system that is suited for your business's needs.
Once you have a budget, check it every month to verify if you're on track. If you're not on track, you need to address why - perhaps you need to adjust your budget, which is common. Use a budget for restraint, not constraint.
In today's world, technology plays a critical role in almost every business. Yet we have found that some businesses do not plan or budget for IT expenditures, whether it's new equipment or service on their existing equipment. In some cases, IT expenditures are pushed into "Misc" or "Emergency" budgets. With technology being so important to the success of your daily operation, it probably deserves its own budget. Let me put it to you this way - you pay your electric bill every month. But when the electricity goes out, WHY is that important and HOW does it affect your business? Is it the lights, or the refrigerator? Probably not. You're probably more concerned with being able to get that email out to your client (and we can make that possible, even without electricity).
The RetroTechs has offered plans to fit practically any budget. In the past few years, we've continued to improve those plans and, as a result, been able to provide flat-fee plans that actually save our clients money. We do this through our SmartStart Technologies™, which combines our unique proactive technology and our world-class professional expertise.
If you need help creating a budget for IT, or simply want another set of eyes on your current budget, give us a call or drop us an email. We've been doing this for our clients, as their trusted advisor, for over 19 years. Don't wait until we're halfway through 2010 - contact us today to eliminate any IT surprises in your budget. Call 404 352 6210 and press 4 for Technical Assistance.
Posted by Elizabethon Tuesday, November 17 2009 - 19:00:00 |  | |
