Planning Your Tech Spending for the New Year

A new year is a great chance to look at what your business is doing well and where it can get better. Your technology is one area where there’s usually room for improvement. If you’re thinking about adding new tech this year, here are four questions to help make it a success.

What Does Your Business Really Need?

It’s easy to get excited about the latest tech, but buying something just because it’s new isn’t a good idea.

Getting tools you don’t need can cause “IT sprawl,” which makes your tech harder to manage and opens you up to more cybersecurity risks. Plus, every new tool comes with extra costs—like time, money, and effort to keep it running.

Before buying anything, think about what problems your business actually needs to solve. Focus on fixing those first.

What Is Your IT Doing Well?

What do your customers love most about your business?

Figure that out and look for tech that makes those areas even stronger. For example:

• If your customer service is amazing, invest in tools to make it even easier for customers to connect with you.
• If your products are top-notch, think about how to share exciting updates with your loyal customers.

Building on your strengths could even boost your profits as the year goes on.

Is the Price Worth It?

The start of the year is a good time to review your IT budget. Are you paying for services you barely use?

Before buying new tech, ask yourself:

• Is it worth the money?
• Will it save you time or cash over the next few years?

It’s tempting to focus on short-term benefits, but if the long-term costs don’t add up, you might want to find a more affordable option. Avoid spending on tools that only help in rare situations.

What Do Your Employees Think?

While you don’t need everyone’s approval to buy new tech, it helps to hear your employees’ opinions. Your team works with the tools every day—they know what’s working and what’s not. Ask them about their challenges and how new technology might help.

Getting their feedback can reassure you that you’re making the right choice. Plus, your employees are more likely to embrace the change if they feel heard.

Start the Year Strong with k_Street Consulting, LLC

If your business needs IT help, we’re here for you. Call k_Street Consulting, LLC today at (202) 640-2737 to learn more about how we can support your tech needs.