An investment is time, energy, or matter spent in the hope of future benefits. Often any time money is spent it is considered an expense, however this should not always be the case. Rather, every time money is spent it should be looked at as an investment, if spent correctly. Technology can be a rather large investment, but when done correctly a company can really reap the benefits of their decision. Below are just a few examples of what originally may come off to some as an expense, but really is a company investing in their IT, to see a great return in the end.
A complete workstation refresh for the entire company
Looking at this many may think, how is spending thousands of dollars to get machines for all of my employees not an expense? Well, for example, just a couple weeks ago Microsoft ended support for all of their XP machines. Many businesses recognized the threat and decided to completely refresh their machines. Had these companies viewed this as an expense and decided not to do it, they would be leaving their entire organization vulnerable to security risks and support issues. So the organizations that decided to make this investment, were protecting themselves from putting their entire organization at a huge risk of being attacked by hackers, losing or destroying valuable information.
Put together a 4 year technology plan
So really spending hours on hours putting together a plan, or paying someone to put together a strategic IT plan is not spending money? Yes! By putting together a strategic technology plan that aligns your technology plans with the plans of the organization, you will be investing a lot of time and money up front, to save even more time and money in the long run. Putting together a technology plan will help layout where money needs to be invested and why, to help avoid overlap in future technology purchases.
Implement a strong backup solution for your business
I know what some of you may be thinking, I have seen what I have to spend on some of those backup solutions, there is no way I can get a return on that. Well, actually you can. A strong backup is like the insurance policy on your business, and you will sure be thankful you have it if ever needed. Putting the investment into your backups will leave you worry free, and in the event of a disaster you will certainly be glad you invested the money upfront, rather than the large expense afterwards.
Overall by taking the time to make the right decisions, you will be investing in your technology, and thus investing in your business. Budgets are tight, so instead of spending money let’s make smart decisions and invest it wisely!