A Guide for 2018 IT Budgeting
As 2018 approaches, IT decision makers must look ahead to next year and decide where to focus IT resources. CIOs are faced with the challenge of planning an IT budget that both drives efficiency and creates value for their business. Though challenging, IT budgeting doesn’t need to be a painful process. We’ve compiled some IT budgeting trends and tips to use as a guide for ensuring your budget aligns with your strategic goals:
IT budget trends for 2018
A 2018 State of IT survey by Spiceworks reports the following budget trends expected for next year:
· As technology in the workplace continues to increase, 2018 holds an expected stabilization or rise in IT budgets. Of the companies that responded to the survey, 44% expect an increased IT budget for next year, making room in the budget for investments in IT staffing and new technology trends.
· Considering the high-profile security breaches that have occurred in the past few years, it should come as no surprise that 66% of the respondents are planning to invest more in advanced security solutions. This is the largest area of increased investment slated for 2018.
· Because of the increasingly mobile workforce and the flexibility and scalability of cloud solutions, cloud investment also continues to rise. Of those surveyed, 41% are budgeting for cloud infrastructure to support their disaster recovery solutions.
· Hardware and software account for the largest share of surveyed budgets for 2018, at 57% of total planned investments.
· Smaller companies look to allocate their managed services budget toward managed hosting while larger companies will invest in managed cloud infrastructure.
Depending on the size of your company and business needs, you may want to include these trending items in your budget plans.
Tips for IT budget planning
Keep these tips in mind during budget planning to help the process move smoothly:
· Be consistent with corporate strategy and align IT budget decisions with corporate strategic goals to drive business-wide value. Work with budget owners to gain a clear understanding of long and short-term business goals.
· Collaborate by involving the accounting, sales and human resources departments to create a budget that is best fitting to your company’s strategy. Be sure to make plans accessible beyond the IT department.
· Budget language should be simple for everyone on the team to understand. Don’t be overly technical in your descriptions. Include an explanation of the value of each item to help prioritize budget spending for the year.
· Don’t overlook planning ahead– make room in your budget for spending on the unforeseen. If you’re not backing up your data, it can be detrimental to your business. Be sure to budget for a reliable backup solution and its upkeep.
Throughout the planning and budgeting process, contact Immedion’s technical advisors to help determine the right IT solution for your business’s needs. Immedion’s engineers can work with you every step of the way to architect a custom solution that incorporates the exact level of compliance and management your technical environment requires.