Like any budgeting process, creating your IT budget involves walking a tightrope. Despite the constant pressure to reduce IT costs, it’s equally vital to ensure that priority areas get the funding they need.
This year, managing your IT budget for success while also cutting costs is especially challenging. According to a Spiceworks Ziff Davis report on the state of IT, 80% of businesses are expecting their IT budgets to remain steady—or even grow—in the coming year.
Lack of certainty plays a role in that. Workplace trends are shifting rapidly in response to global events. As a result, funding is being increasingly channeled toward versatile software and cloud solutions. The same Spiceworks Ziff Davis report noted that hosted and cloud services are going to see higher allocations in 2021 IT budgets.
And that trend will likely continue over the long term. IDC, a leading provider of market intelligence, is predicting that the number of mobile workers will expand to 93.5 million in the United States in 2024. Those mobile and remote workers will need to be supported by cloud services and flexible business processes.
With that in mind, how can you achieve IT spending reductions without compromising security or sacrificing productivity? Here are four important things to consider.