Budgeting is an important part of managing a business. Many times, budgeting requires the use of individual budgets for different departments or tasks. For just about every business nowadays, IT is a crucial part of the operations. You may wonder about the best way to set up a company IT budget for new equipment, such as adding servers, new computers, and more. Here are some suggestions to get you on the right track so you can expand your IT capacity.
- First, consider what equipment it is you want to add. Figure out your budget for that equipment. Obtain more than one price estimate so you can compare prices.
- Next, budget for personnel costs. Many times, you have to have a person (or people) who can manage new IT equipment for you. With personnel costs often the largest chunk of a business budget, don’t underestimate the cost to have employees who will handle the new equipment.
- Consider software. If you have the hardware, you may very well need software, too. Do your research on what software is needed so you’re not surprised by any additional costs in this realm.
- Add network-related budgeting costs. Will your new equipment require any new network capacities at your business, such as additional internet capacity? Does the new equipment incur any additional telecommunication costs, such as business landlines or cell phones that your employees will use?
- Add equipment. Wait, we’re talking about equipment already, so what does this line item mean? It means that your big-ticket purchase may require its own equipment, including wires, screens, workstations for employees, and more.
- Include insurance and maintenance costs. It’s exciting to get a new piece of IT equipment, but that also comes with some additional responsibilities. One of those responsibilities may be purchasing insurance and/or an accident protection policy for the equipment. At the same time, you likely will need someone who can perform regular maintenance on the equipment and handle repairs when things break down. It can be easy to forget the costs involved with these two areas, so don’t neglect them.
- Don’t forget security costs. With cyber threats an ever-growing concern for businesses and the general public, it’s definitely possible that the new IT equipment you are purchasing is vulnerable to hacking or a virus. Look into the costs involved to protect your new equipment from these types of threats.
If you’re feeling flummoxed about making a budget for your new IT equipment in Bradenton, let Futra help you stress less. We can help guide you to the right equipment for your business, all while staying in budget. Find us online at MyFutra.com, or call us at 941-254-6900.