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Tech budgeting 101 for small businesses

With the new year around the corner, now is an excellent time to review your organization’s budget to ensure your business has the resources it needs to continue to grow and prosper in the coming year.

It’s important to understand that in today’s highly digitized environment, technology shouldn’t be an afterthought. You need to have a clear and well-defined IT / cybersecurity budget since an unanticipated technology issue in the middle of the year could cause trouble. 

In this blog post, we’ll explore a few key things to keep in mind while budgeting for your IT and cybersecurity needs.

Always assess your business needs

As technology advances at a breakneck pace, regular technology refreshes become increasingly essential for any company hoping to stay successful. Rather than simply assuming you’ll need the same IT budget as last year, take the time to assess your organization’s current needs and how upgrading or moving to different platforms might help your company meet those needs.

Just like most technology-backed businesses, allocate your IT budget to improve these four areas:

Routine IT services

Hackers are always on the lookout for vulnerabilities in your business network. You need to identify these weaknesses in your IT infrastructure so that your business network isn’t compromised. Make sure you continuously monitor your network with a vulnerability scanning solution to identify potential problems and develop the best preventive measures.

Projects 

Businesses frequently neglect critical IT projects, such as securing their networks, leaving them vulnerable to attacks. Hackers can easily access your network if your employees use unsecured Wi-Fi. Risks associated with free Wi-Fi hotspots include network compromise, evil twin attacks and exploits. Setting up a secure VPN for your virtual workforce is the best way to avoid these events.

Refreshes

Keeping legacy systems may appear to be the easiest and most economically sound option, but it can decrease employee productivity and harm your bottom line. You’re also more susceptible to hacking if your security patches are outdated. As a result, annual technology refreshes are critical to ensuring the optimal performance of your IT infrastructure.

Accidents or incidents

You’ll need a plan to tackle an accident or incident, such as a cybercriminal demanding a ransom. Discovering that hackers have encrypted all your systems can be disastrous, not just financially but also in terms of your reputation. When planning your technology budget, focus on strengthening your cybersecurity posture so you can mitigate today’s sophisticated threats.

A cybersecurity service provider might be what you need. A cybersecurity service provider can be vital in guiding you through anything IT-related, including cybersecurity, backup, compliance, budgeting and more. 

A cybersecurity service provider can help with the following:

Internal support: Internal IT department or IT team

The most common type of support is through an internal IT department or IT team. Usually, businesses with a committed IT team are enterprises, while small businesses may have only one IT staff member or none.

External support: Outsourced IT service provider

An external cybersecurity service provider, like us, can support your business in multiple ways, such as assessing your IT infrastructure to plan for budgeting decisions, advising on the best IT solutions, and assisting with implementation and setup.

Hybrid support: A combination of internal and external IT services

If you have an existing internal IT team but have areas they cannot cover, you can outsource those areas to an external specialist.

Outsourcing your cybersecurity needs or opting for hybrid support alongside your internal IT team can reduce stress since our specialists can help lighten the load and show you the right way to prepare a budget. To get started, contact us today for a no-obligation consultation at https://www.cyologylabs.com/mssp

If you wish to learn more 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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