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Don’t overlook these 3 technology budget categories 

Are you considering all the technology categories when planning your annual budget?

Technology is essential for any modern business such as yours, but it’s easy to focus solely on routine services that keep the lights on. This could lead you to miss crucial budget categories, leaving you scrambling when unanticipated needs arise.

Keep reading to learn about three critical budget categories—projects, refreshes and accidents/incidents—that are overlooked and how they can affect your business.

Never ignore these categories

Ensure your business has the resources it needs to thrive by taking the time to budget for the following categories. If they are separate from your budget plans, you might have to rethink your approach.

Projects

It’s easy for a small business to neglect critical IT projects, leaving you vulnerable to attacks. Hackers can easily access your network if your employees use unsecured Wi-Fi. Risks include network compromise, evil twin attacks, and exploits. The best way to avoid these incidents is to provide your workforce with a secure VPN work setup.

Refreshes

As your company expands, you must ensure your technology infrastructure can keep up. One method is to perform regular technological refreshes. It entails regularly upgrading your hardware and software.

While retaining legacy systems might seem like the easy option or more fiscally responsible, it can harm employee productivity and your bottom line. You may even be vulnerable to hackers if your security patches are outdated.

By regularly upgrading your infrastructure, you can ensure your company is always using the most up-to-date technology. 

Accidents or incidents

With accidents or incidents, cybercriminals are always looking for new ways to take advantage of businesses. For example, with a ransomware attack, a cybercriminal may demand a ransom for the decryption code, which could overwhelm you.

Without proper backup, you may have to pay a ransom to avoid data loss — and you still might not get your data back. This can be a financial and reputational setback for your business. You can protect yourself against today’s sophisticated threats by investing in the right security solutions.

Collaborate for success

When you try to cut costs, you might need to pay attention to crucial budget categories like the ones discussed above. Collaboration with an IT service provider, like us, can help prevent this. We can help you identify areas where you may overspend/underspend and find more cost-effective solutions.

We can also help keep track of your IT budget and ensure all necessary expenses get noticed. Visit us at https://www.cyologylabs.com/mssp

If you wish to learn about consumer concerns you can download our mobile app, FRAUDSTER, available on Apple and Android. You can learn more at www.FraudsterApp.com

If you’ve already downloaded the FraudsterApp, click the training icon on the home screen to learn to protect yourself. 

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