In a recession, sometimes spending a bit on technology can actually end up saving your business money over the long term. Investments in virtualization, thin clients, Web conferencing, and other technologies can pay off.
“Strap in, it’s going to be a bumpy night,” to quote the immortal actress Bette Davis. More than a famous movie line, it could also be used as a metaphor expressing the rising anxiety among business owners as the economy seems to sink a little further into recession each day.
For most organizations, IT is major piece of the pie when financial managers look at their operating costs. When it comes time to make cuts, it may seem like the low-hanging fruit because it’s such a big target, but think again. Chances are the IT budget doesn’t need to be cut.
“IT budgets for small to mid-sized businesses are always tight, even when the economy is good. So in lean times, it’s less likely there are that many opportunities to trim back costs,” says Jim Browning, a senior research analyst from Gartner, of Stamford, Conn.
That being said, it may be time to re-evaluate how that money is being spent and reshuffle priorities according to which technologies will actually pay for themselves and help the bottom line.
Technology choices can save $$$
There are countless ways technology can save organizations money. After all, technology is meant to be a tool and by definition is supposed to increase efficiency which always translates to saving money.
However, there are a number of areas where the IT department can be especially helpful in giving the budget an assist in this economy. As small to mid-sized businesses take inventory of their technology choices, here are some technologies that can translate to big buck savings.
10 technologies that can save money
The mandate to save money may be clear, but which technologies actually pay for themselves is a tougher call to make for many businesses. Here are ten options that many small to midsize businesses are trending towards and reaping significant financial rewards.