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How Businesses Can Save Money on their IT Hardware and Software

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IT hardware and software cost-saving tips
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Using technology can help you scale operations faster in your business. But if you are looking to cut down on costs and still get things done, it is imperative to learn how to save money when doing business using IT hardware and software.

The integration of Information Technology (IT) simplifies the process further, as you can use a wide range of tools to streamline how you do business. This, however, comes with a downside – you could spend a lot of money in the process.

This is why this article has been written to help address some of the ways to save on costs. Continue reading if you want to find out how best to maximize IT hardware and software, while saving money.

How Does Technology Save Money for Businesses?

Technology and related technological tools help business owners save money in two ways – scalability and modernization. As the world pivots to the use of the Internet and cloud storage, you can now do away with most of the paperwork, as well as complete tasks faster.

IT Hardware and Software Cost-Saving Tips

However, you may be unable to maximize the use of software and hardware for IT, if you don’t have the funds to keep them in use.

Here are some tips on how best to save money as a small business owner utilizing IT hardware and software.

1. Outsource the “Outsource-ables”

Sometimes, outsourcing or giving out some of the most important tasks to others to handle could be a better cost-saving measure. Outsourcing is a viable way to maximize your IT hardware and software, as you don’t necessarily need an in-house team. A lot will change about your business the day you understand how to choose the right outsourcing partner in business.

The following are some of the outsourcing measures to take:

  • Outsource some of the IT hardware, software and infrastructure-related services, by using a pay-as-you-use basis.
  • You could also outsource the IT staff. This way, you get to save some costs on hiring an in-house staff.

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2. Consider Using a Managed IT Service

For businesses with an enormous demand for Information Technology (IT); it makes sense to use a managed IT service.

It is a fully-managed IT solution that provides most of the services your business requires. These services range from:

  • Hiring the IT staff.
  • Training your IT staff, if need be.
  • Making regular updates to the hardware and software that powers the business.
  • A managed IT service also covers customer-centric solutions, such as providing robust security measures and offering a flexible payment/usage plan.

3. Take IT Hardware and Software on a Lease

What could be a better way to save money as a business than paying for the things you truly need – and could afford!

IT hardware and software come at a great expense and except your business is financially buoyant; you may not afford to pay for them at once.

Taking them on a lease affords you the liberty to pay periodically and in the amounts you can afford.

The following are also some of the benefits of leasing IT hardware and software:

  • It helps you to switch to the latest solutions.
  • The payment and lease plans are almost favorable to your business.
  • It offers you a window of opportunity to make a budget for getting the equipment you need.

4. Go in the Way of Cloud Computation

Storing data in the cloud makes a lot of sense and has become increasingly popular in the IT industry. Today, you can cut down on up to 40% of your original costs by implementing a cloud storage model.

For the best results, consider using the hybrid cloud model that allows you to use both private and public cloud environments.

The benefits of cloud storage include but are not limited to:

  • Extra security
  • Excellent workload distribution, especially if you are using the hybrid cloud model. This allows you to distribute data across public and private cloud environments.
  • Better productivity.

5. Use Eco-Friendly IT Hardware

The type of hardware you use for your IT solutions could potentially impact your energy or electricity bills and by extension help you save money.

To this end, going for the eco-friendly variants is a step in the right direction, as it helps you to cut down on energy expenses.

6. Settle for the Scalable Communication Systems

This refers to the medium of sharing information with your customers. From the use of traditional telephone calls to Voice-Over-the-Internet Protocol (VoIP); you have lots of options to choose from.

Examples of other scalable communication systems are:

  • Instant Messaging (IM)
  • Audio calls and;
  • Video conferencing calls

7. Use Open-Source Software

Open-source software comes with a lot of pecks, the top among which are the affordability and the free updates you receive.

Utilizing open-source IT software helps your business to benefit from the following:

  • Source Code Access: you will receive access to the source code, almost for free.
  • Faster Improvements: the fact that the code’s developers make periodic updates is impressive. The instantaneous updates help your IT software to update faster and run smoothly thereafter.
  • Community Support: the “icing on the cake” is the support you get from the community of code developers and other business owners using open-source software for their IT needs.

8. Invest in the Multipurpose Hardware

Multipurpose IT hardware are the type that handle a lot of tasks. For example, you could invest in a multifunction printer, capable of scanning and printing documents. This helps you save on the costs of getting separate machines for the two functions.

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9. Analyze the Requirements and Balance the Costs

How to save money using IT software and hardware solutions

You need to analyze the requirements or the needs for the IT hardware and software. If you really need them; what would it cost to have them?

It is beyond the cost of purchase alone. Other types of costs to factor in are:

  • Capital Cost: this refers to the amount of money required to buy, maintain and upgrade the IT’s hardware and software.
  • Operational Cost: this cost factor is used to refer to the “predictable expenses” or the expenses that are common with doing business. Examples are the rent for the office space and the cost of inventory.

Final Words

Your business can save more money than it spends on IT hardware and software by investing in the equipment it needs, one at a time. You also need to speak to a professional to determine the type of hardware and software your business actually needs.

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CHUKWUKADIBIA ABAH is a passionate freelance writer and contributor to the Entrepreneur Business Blog. You can follow him on: Facebook: https://web.facebook.com/ChukwukadibiaAbah1/ Twitter: https://twitter.com/Chukwukadibia01 LinkedIn: https://www.linkedin.com/in/chukwukadibiaabah/ Instagram: https://instagram.com/chukwukadibia_abah

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