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New Year, New Budget, Same Old IT Infrastructure?

The month of December signals not only changes in the weather, but for many private organizations the end of the fiscal year and the beginning of new budget cycles. For small and medium sized businesses and non-profits, this time of year can also be a great time to discuss upcoming Information Technology (IT) needs and implementing a plan for refreshing old and outdated (end of life) hardware and equipment. From a financial perspective, many organizations (no matter their size) generally do not budget properly for the sometimes unforeseen expense of IT equipment failure/obsolescence and the fees and services that accompany any project to replace aging infrastructure.

A great place to start planning for these expenses is not always in the server room, but sometimes the Finance Directors (Comptrollers) office. Having an updated inventory of your IT equipment from the data center to the desktop provides the basic information of, “what do we have, what do we use it for and how old is it?” From there, move on to examine the needs of the organization from a growth perspective and discuss how certain objectives of your strategic plan can be directly addressed by IT; this will assist in sizing any network upgrade projects accurately.

Many Banks do not provide financing specific to IT equipment purchases or project work, especially those under several hundred thousand dollars. Working with a qualified consultant to assess your needs, craft a specific and accurate scope of work, including a detailed bill of materials can provide your company’s finance department with all the information they need to determine how your organization can budget and afford the proposed improvements to your infrastructure. For smaller organizations, request financing options directly from your IT consultant, in some cases they may have an existing relationship with financial institutions that can provide your firm with purchase or lease options. In some cases, the IT Firm you engage can provide financing terms directly to your organization and eliminate the need for outside financing.

Should you have any questions or would like additional information, please contact TBNG Consulting at contact@tbngconsulting.com or at 855-512-4817.
TBNG Blogger

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