Controlling IT Costs Strategies for 2020: Part 1

Controlling IT Costs Strategies for 2020: Part 1

Sometimes, good advice can go a long way. We started putting together thoughts on how you can control your IT costs this year and just had too much good stuff to share. So, instead of a long post where it’s easy to lose track of actionable steps, we’re putting together a four-part series designed to help. This is Part I: Reducing Your Business Internet Bill. Be sure to come back to our blog page soon to read the next installment.

Make IT cost management a priority

Running a business and managing expenses is hard. You’re facing hundreds of decisions, large and small, each day and need to be on the top of your game to put out fires as they happen. When you throw COVID-19 into the mix, not only do decisions get exponentially more difficult but the cost of making the wrong choice scales, too.

We’ve worked with dozens of business owners and executives in the past few weeks to learn the current issues they’re facing, how old problems are changing, and what responses are working. We’ve distilled that down into a few specific recommendations that your business can enact now.

If you’re struggling to keep the doors open or facing potential growth, let’s give your finances some breathing room. Here are some actionable strategies designed to trim IT spending smartly.

Cost-Saving Strategy #1: Reducing Your Business Internet Bill

Let’s start with the most straightforward item on our list: managing your existing Internet service contracts.

Older and long-term Internet contracts tend to have higher rates for sub-optimal connectivity (bandwidth). That means you’re spending too much on something too slow. At the same time, if you’re going to shift permanently to remote work, you may be able to reduce some of the demand and find a new contract that better fits your needs and budgets.

Often, the Internet is seen as a standard utility by businesses, where little can be negotiated. However, as technology advances and your office changes, there are often better, faster, and cheaper options available. Sometimes they’ll be offered by your existing providers, and others you’ll need to shop around more.

When we first start working with a client, monthly Internet costs are one of the first low-hanging fruits we target to optimize IT expenditures.

The best way to start is to analyze your needs and have IT determine the speeds and bandwidth best suited for your business. If you need a hand, we can help you make that determination quickly with just a little business information. Then, use this to get quotes from multiple Internet Service Providers (ISPs). Compare what they offer with your current spending and your bandwidth needs.

Ask if you may save based on additional service lines, such as the phones mentioned. If you provide Wi-Fi hotspots to employees who travel regularly, ask if this service is supported. You may find additional opportunities to save by consolidating plans.

3 actionable steps

We’ve started with one of the easiest costs to get a hold of and manage. This is all about negotiation and asking for a better deal, whether that’s faster service or a reduced price. To reiterate, here are the three main steps you need to take:

  1. Assess your bandwidth and speed needs, as well as your budget
  2. Reach out to multiple ISPs and ask specifically for quotes on these elements
  3. Switch to the option that best fits your needs

It’s a nice, clear way to start saving — something we all need in 2020. However, if you have questions about your needs or how to evaluate ISP offers, we’re here to help. Ask what you need and let us help you learn where you might be able to optimize further, just by joining us for a free evaluation.

 

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