Skip to content
Stay Ahead: Key IT Budgeting Trends for the Coming Year
It’s almost the most wonderful time of the year: budgeting season. Wait, you don’t look forward to hours of number crunching and trying to foretell the future of the economy? If the word “budget” makes you shudder, you’re not alone—more than half of businesses don’t budget at all.
But when it comes to your business, creating a budget is crucial for staying on track and achieving your goals. And when it comes to the IT budget, there are some specific trends and changes worth considering before drafting next year’s fiscal game plan.
While we don’t have a crystal ball, we do have over two decades of experience in the IT industry, and that helps us recognize the game-changers from the duds. Here are our top IT cybersecurity trends to take into consideration before drafting next year’s IT budget:
1. Cloud Computing
We all know now that the cloud is no longer just a buzzword—it’s becoming the norm for business operations, with Gartner predicting that almost two-thirds (65.9%) of businesses of spending for application software will be going to the cloud by 2025.
Why do business owners love the cloud so much? For starters, it allows for greater flexibility, scalability, and disaster recovery plan protection and options. Plus, you only pay for the storage and services that you actually use, making budgeting a breeze.
Our Microsoft 365 is a great solution for businesses that are looking to move to the cloud. It offers a suite of tools including Office 365, Windows 10 Enterprise, and Enterprise Mobility + Security, all in one subscription. This makes it easy for businesses looking to switch to the cloud and start taking advantage of its benefits.
Consider budgeting for cloud migration or adoption in your next fiscal year’s plans. You may also want to consider investing in managed cloud services to ensure that all of your cloud needs are met and monitored (think things like security, backups, and disaster recovery).
2. Cybersecurity
Ah, cybersecurity. We’ll never get enough of it. Just like there will always be people out there willing to pick your pocket, there will always be cybercriminals looking to steal your data. And as more and more business operations move online, the need for top-notch cybersecurity becomes even greater. The online world is still like the Wild West—very few laws and even fewer consequences for those who break the rules.
Cybercrime is on the rise, and it’s not just big corporations that fall victim—employees at a small businesses are 350% more likely to be the victim of a scam attempt than an employee at a large enterprise. It makes sense—why attack Fort Knox when you can rob a mom-and-pop store?
Cybersecurity is an ongoing investment and if you work with a managed service provider (MSP), it can also be a set expense for your IT budget. If you’re interested in having someone else take care of the IT work, a good MSP will be upfront about its pricing structure and even include cybersecurity in its fixed monthly fees.
3. WFP: Work-From-Phone
Back in 2019, 75% of business employees were already using their own mobile devices for work purposes—whether it was checking email, accessing documents, or conducting video conferences. With the takeover of work-from-home, that number has definitely skyrocketed.
This trend towards the use of personal devices in the workplace is called “bring your own device” (BYOD) or “choose your own device” (CYOD). While BYOD and CYOD can offer cost savings for the business, it’s important to consider budgeting for mobile device management software and policies to ensure that company data is secure on employees’ devices.
4. Digital Transformation
How M365 Digital transformation is all about using technology to improve or even disrupt traditional business processes and operations. In the last year, we’ve seen this in action with everything from virtual fitness classes to online grocery shopping and meal delivery services.
Investing in digital transformation can have big pay-offs for your business—improved efficiency, better communication, and increased customer satisfaction. But it’s important to consider budgeting for not just the technology, but also for things like staff training and change management to ensure a smooth transition.
5. Managed IT Services Model
You probably outsource a lot already: your bookkeeping, HR, cleaning services. You do it because it takes something off your plate that you don’t have the time or resources for. The same goes for your IT services partner.
Many businesses have made the switch to utilizing a managed IT solutions provider (MSP) for their IT needs. This means they pay a fixed monthly fee, and the MSP takes care of things like monitoring and maintaining the network, handling security threats, and providing outsource IT help desk support.
Instead of paying for an in-house IT team (which can be quite expensive and change throughout the year based on hiring), budgeting for a managed services model can offer cost savings, improved efficiency, and peace of mind. When it comes to something as important as your company’s technology infrastructure, why not let the experts handle it?
Be A Trendsetter with Stability Networks
Bottom line: before drafting next year’s IT budget, consider these trends and how they may impact your business. Whether it’s investing in cybersecurity, embracing BYOD policies, or outsourcing to an MSP, staying ahead of the game can mean big pay-offs for your company. And who doesn’t love that?
If you need help with your IT budget or you’re looking for a reliable MSP, schedule a consultation with our experts at Stability Networks! We cover everything discussed in this blog and much more. Our clients across the nation have given us 4.8 stars—let us show you why.
