IT Planning for 2016
Can you believe it is November already? With 2016 quickly approaching, it is time to begin planning and budgeting for the New Year. To help that process, which can be painful sometimes, we have 3 simple hints for budgeting for the New Year.
Here are 3 simple tips for IT budgeting
1. Plan, Plan, Plan and Plan.
Budgeting is similar to disaster planning because planning prevents unexpected issues from disrupting your normal business functions. When your server crashes from where does the money come? Does your budget come equipped with an emergency fund? When budgeting include your key players. They have a good handle on realistic sales numbers and costs for the budgeting timeframe.
2. Be specific.
This does not mean that you need to have a line item for every office supply or expense. In avoiding category labels like ‘miscellaneous’ or ‘stuff’, it allows you to know where your money is going. By being specific and detailed within a budget, it allows you to control where the money is being spent and how it is being spent.
3. Be flexible.
Budgets are to work as a guideline for your money. You might get to March and realize that some of the decisions you made back in December are irrelevant. Then some reorganizing might need to occur. When this happens, make sure to involve the key players again. Budgets have the ability to measure and to be a learning tool. Keep that in mind throughout the year as you may need to make adjustments to it.
Interested in learning more about IT Strategies, Planning and Budgeting as 2016 approaches? Register today for our free webinar, led by i3’s Brian Abraham and Mike Ritsema on November 17th.