How to Spend Your IT Budget Before EoY

The holiday season is in full swing. The air is cool and crisp. Your home is decorated. And, you’ve got a to-do list a mile long to finish before you can officially sign off on 2019.

If you’re a business owner or the head of an IT team, chances are spending your surplus budget is buried on that list somewhere between buying a co-worker their secret Santa present and ordering the Christmas ham. Will it be a bourbon and orange or honey and mustard glaze this year? Wait. Let’s not get side-tracked!

The pressure is well and truly on. You’ve got a short amount of time to make meaningful purchases. If you fail to do so, the cash is gone for good. If you opt for something useless, then you’ve just wasted valuable, hard-earned company dollars.

So, what is the solution? Below you’ll found our top tips for spending your IT budget before EoY. Let’s get started right away. The clock is ticking.

Tip 1: Spend now, use later

2020 is right around the corner. A new year, a new decade, and new business opportunities await. One of the wisest ways you can spend leftover bucks is on IT equipment, services, and other accessories that can be used for work that will be delivered after the holiday season.

Think ahead. What are your business goals? What do you hope to achieve in the new year? Are you planning any significant changes to your processes, products, or services? If so, what will you need to facilitate those changes?

While you certainly don’t have time for a new project now, your time will free up eventually. Think of this spending strategy as a sort of layaway for 2020, a way to plan your IT beginning with the end in mind.

Our suggestion: Why not bank some maintenance time with your managed service provider or outsourced IT team? You might not need it now, but if you have already budgeted the funds, you’ll have quick and easy access to their support.

Tip 2: Show your team how much you appreciate them

It’s the holidays, a time to be thankful, generous, and giving. The people you hire are the heart of your business – without them, the entire thing would come crumbling down. If your company permits, you might be able to use an excess budget to show them just how much you appreciate their hard work and dedication.

“If you are a founder or entrepreneur, no matter where you are in your journey, there’s quite a lot to be thankful for.” – Forbes

Our suggestion: Don’t think of this spending strategy as a sort of office-wide secret Santa. It can be much too difficult and time-consuming attempting to pick individual gifts for each person. Instead, things like movie tickets, gift cards, and bottles of wine will be enjoyed by all.  

Tip 3: Spend the money digitally

Digital assets and services are a fantastic way to give your business an end-of-year boost while eliminating any leftover IT funds. There are so many different things you can spend your money on. Here are some of our top picks:

  • Digital ads. This might include Google ads or social media ads. Get the most bang for your buck by familiarizing yourself with ROI best practices.
  • Create a mobile app. If you’ve been thinking about having a mobile app developed on the cloud for your business, why not use additional funds to kick-start the process?
  • Add new features to your website. Your website is your business’s 24-hour salesperson. Be sure you’re putting your best foot forward by incorporating the latest in functionality and design