Don’t make these mistakes when investing in IT

Don’t make these mistakes when investing in IT

More and more businesses are investing more money in new IT solutions to drive efficiency, enhance customer service, and improve cybersecurity, among others. However, your IT investment might become a waste of money if you make these mistakes.

1. Failing to align new tech with business goals

While many advertisers sell new technologies as the ultimate solution to all your problems, the truth is that not every IT solution is a good fit for all businesses. That's why you need to clarify your company's needs and goals, so you can make the right investments.

2. Not doing your homework

Before investing in a new IT solution, you should ask for IT recommendations from people you trust. Read reviews and case studies about these recommendations and similar IT solutions. Check if those IT solutions will work well with your existing IT systems and if they can accommodate your company's future growth.

By conducting research, you can better understand how those IT solutions work, what short-term and long-term benefits they can bring, and which IT solution is the best fit for your company.

3. Failing to do a cost-benefit analysis

Before purchasing a new IT solution, you must conduct a cost-benefit analysis. This means comparing the costs of the investment (i.e., the price of the IT solution and the costs related to the training, infrastructure, and maintenance required) against the benefits it can bring to your company. Doing so will help you make an informed decision on whether to proceed with the purchase.

4. Not considering your cash flow

When you're evaluating the costs of a new IT solution, it's important to consider your company's cash flow. If you're tight on cash, you may want to wait until your financial situation improves before making an IT investment. While you can always finance the purchase through a loan or line of credit, remember that interest rates will add to your overall costs.

A great way to manage your cash flow is to pick an IT solution that requires a monthly subscription fee rather than a huge upfront cost. But be sure to draft a budget first, as recurring costs can still exhaust your finances.

5. Failing to train the end users

Investing in a great IT solution is pointless if your team doesn't know how to use it. That’s why you must set aside time and money for user training. It's best to ask an IT specialist to conduct the training, as they would know how to simplify complicated steps and take advantage of the IT solution’s features. They may also offer tips on getting the most out of your new IT investment.

Avoiding these mistakes can help you enjoy a positive return on your IT investment. When making major IT decisions for your business, don't be afraid to seek professional help. Consult with us today.

Published with permission from Source.

Shawn Meyer

Shawn Meyer

Shawn has over 20 years experience in utilizing various technologies for implementation, management, and administration of Fortune 100 Enterprise Level distributed environments. As part of the management team, Shawn oversees Enterprise IT and Consulting engagements for RJ2 Technologies’s clients. Prior to RJ2 Technologies, Shawn was the regional IT manager for a large entertainment corporation and was recognized for his change management leadership during a complex system-wide conversion to digital media. In addition, Shawn has worked with various clients throughout the Chicagoland area. Shawn enjoys spending time with his wife and three energetic kids and volunteers for a variety of nonprofit organizations in the Chicagoland area.