Ferrum Technology Services Blog

We just wanted to provide a public notice that Microsoft intends to increase the price of its Microsoft 365 and Office 365 offerings. If your business relies on these tools in its operations, you can expect to see your costs for them go up, regardless of where they are sourced from.

That’s the bad news. The good news is, we can help you get the greatest mileage out of these solutions… potentially by introducing you to capabilities that you have yet to take advantage of.

When budgeting capital for your company’s technology, it isn’t always simple to know how much to allocate. In fact, a lot of times it can be a convoluted and troublesome experience. Our consultants spend quite a bit of time and effort working out workable budgets for our clients and today, we thought we would talk about how we come about our figures to comprehensively support a business’ technology.

A survey from Splunk and Enterprise Strategy Group indicates that organizations tend to invest a significant amount of their capital into cybersecurity. Even more interesting is that 88 percent of respondents in this survey reported that they would increase these investments, with 35 percent reporting that they will be substantial. What other insights can we glean from this survey?

Most modern businesses are using information systems to accelerate their profitability. In fact, small and medium-sized businesses are expected to spend over $650 billion in 2021. The question becomes what technologies are they spending their money on, and are they objectively the right investments to make? Today, we will unpack these questions by highlighting two investments that many businesses are pursuing.

Sad to say, but for the foreseeable future, cost control is going to be the number one priority for almost every business. With the COVID-19 pandemic into its sixth month, and revenue streams interrupted, businesses are being extremely cautious with their capital. One place where most businesses can cut back is on printing. Let’s discuss how to cut your organization’s printing costs. 

Millions of businesses are being affected by the COVID-19 outbreak. As a result, it may not surprise you that you will have to adjust your budget to accommodate the massive amount of changes that we will see when the outbreak is handled and everyday life begins to normalize. Today, we thought we’d take you through some of the financial challenges your business is sure to have to deal with when the stay-at-home orders lift.

Running a business isn’t cheap, which results in budgets becoming strained under their operational needs. A major contributor to this strain is often the security-focused line items. However, there are a few means and methods to getting the most out of your security budget.

It’s clear that one of the best ways you can improve your organization’s operations is through investing in new IT solutions, but these expenses change from year-to-year. However, as years go by, the amount that your business invests in IT is sure to shift. Though this year saw a minor decrease in IT spending, Gartner predicts that next year will be another huge opportunity to invest in new technology and IT systems.

Specifically, Gartner predicts a 2.9 percent growth rate in IT expenditures during 2017. ComputerWorld reports this growth as part of a global IT spending of $3.49 trillion. Gartner also predicts that spending on devices will increase by 0.4 percent to an astounding $600 billion. Global software spending growth will exceed 7.2 percent to $357 billion, while IT service spending will increase by 4.8 percent to $943 billion.

This growth is attributed to businesses’ desires to grow and become authoritative figures in their communities and industries--or so says John-David Lovelock from Gartner. He states, “Leading organizations, as well as those that wish to lead, are spending on IT and nurturing their IT investments as the means to grow their business.”

One of the most noteworthy trends in these growing numbers comes from the fact that organizations are increasing their spending while cutting out unnecessary costs. These figures show that businesses want to eliminate unneeded expenses, but also to reinvest the saved revenue into new, more innovative technology solutions. In other words, organizations are attempting to invest their returns to improve operations, and it’s easier to do so than you would initially think.

In fact, this increase in IT spending can mean that businesses are more willing to invest in enterprise-level solutions that create more flexibility and scalability in the workplace, allowing for more growth. The right technology services have an uncanny knack for decreasing capital expenses and freeing up valuable time and resources for more important endeavors. One way that businesses are doing so is by outsourcing services like help desk support and email hosting to third parties in order to free up work hours and reduce their bottom line.

When it comes to making progress on your organization’s future, your IT budget presents your business with a major roadblock. We bet that it would feel great to eliminate the stress associated with your IT budget. Here are three ways that you can plan for your business’s future and keep that IT budget slimmed down.