Common Ways That Businesses Waste Money on Technology

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Technology costs in a business are usually high, but it’s a worthwhile investment because the right tech helps you save money and boost efficiency. That said, you should keep an eye on your technology spending because a lot of businesses are wasting money unnecessarily. This is often down to a lack of knowledge or understanding, and a failure to monitor and adjust tech spending over time. By identifying the areas where you are overspending, you can make simple changes to save a lot of money. These are some of the things you should look out for.

Buying Hardware That Exceeds Your Needs

When buying computers and laptops for your employees, consider what they need. In most cases, if people are just running spreadsheets and word processing applications or using basic software, they don’t need a top-of-the-line laptop with a hugely powerful processor. You can find some more affordable laptops that do everything you need to do and are more portable and easier for employees to use. The Chromebook is ideal for most business applications and it’s not that expensive. You can view deals at lenovo.com to get an idea of the price. If you are dealing with a salesperson, remember that they’re always trying to get the most money out of you, so they will tell you that you need to have the most powerful computer out there. In most cases, you don’t, so consider your needs and buy hardware that meets it.

Failing to Upgrade Hardware

On the other side of the coin, you have businesses that don’t spend enough on hardware. Their employees are left using old computers that are riddled with problems. The company thinks that they are saving money because they’re not paying for new computers. They are, however, paying for constant repairs. Productivity takes a big hit too because everything runs so slowly, which means that it costs them more money in the longterm. You should check the hardware and consider upgrading every 5 years or so.

Failure to Invest in Cloud Applications

If you are running all software locally from your own servers, and storing everything as a hard copy, you could be spending way more than you need to. There are so many excellent cloud applications and services, like Office 365, that give you everything you need, hosted on the cloud. You can also use cloud storage services to backup all your data. That means fewer physical servers and drastically reduced costs. 

Backing Up Too Much Data

Backing up your data is important and a lot of companies don’t do it enough. However, did you know that backing up too much data can be a waste of money? Businesses make this mistake when they keep everything, even information that they don’t need anymore, and they back it all up. This increases your costs unnecessarily and makes recovery much harder because you are weighed down with all of this extra data. You should conduct regular data audits to ensure that you are only backing up what you need and the rest is deleted.

 

Check these things in your own business and you might be surprised how much money you can save.

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