As the year comes to a close, you’ve probably already started working on your business’s financial plans for 2025. With a business environment that gets faster and more reliant on technology every day, your IT budgeting requires special attention to maintain a competitive edge.
Today, we’re outlining six things you should keep in mind to create a future-proof IT budget for 2025.
1. Current IT Infrastructure
Before you jump into changes for next year, take a close look at your existing systems, software, and hardware. Review the performance of each, including response times and how often you use them. Identify any inefficiencies or vulnerabilities that need to be addressed in the coming year and decide what should be maintained, updated, or discontinued.
2. Advanced Cybersecurity
From 2022 to 2023, the number of daily cyberattacks jumped from 1,584 to 2,365—an alarming increase that will likely continue. Attacks are also becoming more sophisticated, with AI-powered tactics, supply chain attacks, and more.
To keep your business safe, it’s crucial to allocate sufficient funds to reinforce your cybersecurity infrastructure. This might include firewall upgrades, MFA, advanced threat detection systems, and more.
A professional IT company can run tests and evaluations on your current cybersecurity measures to determine what adjustments you can make to tighten your security web and protect your resources. With this knowledge, you can make the right arrangements in your IT budgeting.
3. Cloud and Hybrid Solutions
The cloud is becoming an increasingly popular tool for businesses hoping to streamline data management and backups, improve collaboration, and better support remote team members. Take a look at your current data storage setup and resources for remote team members and decide whether moving more workloads to the cloud would be beneficial.
Remember to consider funds for migration costs, virtual desktop setup, and subscriptions to collaborative platforms like Microsoft 365 or Zoom as you plan your cloud budget.
4. IT Staff and Outsourcing
Carefully evaluate your current IT staffing situation and make sure it’s still cost-effective and sufficient for your needs.
In this part of your IT budgeting, consider the costs of expanding your internal team (hiring and training costs, salaries, benefits, etc.) or outsourcing managed IT services for a fixed monthly fee. Be sure to account for any specialists you may contract for projects, such as cloud architects or cybersecurity experts.
5. Backup, Disaster Recovery, and Business Continuity Planning
It’s estimated that downtime could cost businesses at least $10,000 an hour. In other words, allocating a small portion of your budget to protect you from extreme financial burdens like these is well worth the investment.
To avoid expensive downtime, data loss, and the headache of recovering from a cyber incident, designate funds to backup systems and disaster recovery services.
6. Cost Optimization and ROI Tracking
One of the key principles of IT budgeting is staying current and relevant. Don’t get stuck in the trap of doing exactly what you did last year or using generic, one-size-fits-all budgets. Frequently calculate the ROI of your IT investments (both new and existing) and don’t be afraid to make adjustments to make your technology more cost-effective.
Make the Most of Your IT Investment with Praxis
Planning your tech is a big job, one that’s made easier with expert insights and experience. At Praxis, we’ve spent over 30 years helping businesses like yours use their technology to prepare for the future.
If you’re struggling with IT budgeting and wondering what services you really need, don’t hesitate to schedule a call. We’ll help you maximize your IT investments in this coming year.
