How To Stretch Your Budget Until the New Financial Year Begins
Posted on Thursday, January 3, 2019
IT budgets may be increasing, but there still never seems to be enough cash in the pot to last a full year. The demands of a business undergoing digital transformation, however, are often more flexible than your budget, which means you need to keep as much cash free as possible even towards the end of your financial year.
Here are three ways to stretch your budget so you can see the whole year through.
1. Max out, don’t upgrade
Need more performance or capacity? There’s no need to follow the OEM’s specified hardware refresh plan.
Instead, you can max out existing systems by populating vacant disk trays, CPU sockets or memory slots with OEM-approved spares. And you can source official parts from a third-party provider like CDS to further reduce purchase costs.
The performance gains will probably be modest but should be enough to see you through to year-end when you can budget for a full system upgrade.
2. Consolidate systems and data
Duplicate data is, in terms of backups, a good thing. But in the wider context of your systems, possessing multiple copies of the same information is an operational nightmare.
Issues of efficiency and accuracy aside, duplicate data places a massive strain on your infrastructure. Rather than throwing more storage at the issue however, de-duplicating information reduces capacity requirements and the costs of maintaining and supporting all of your arrays. You may even be able to mothball or resell unused storage systems, freeing up cash for use in other projects before year-end.
3. Replace costly OEM support
OEM support and maintenance contracts are not only expensive, but also increase by an average of 20% year over year. Rather than renewing OEM contracts, you should investigate cost-effective alternatives like those offered by CDS.
As well as offering equivalent (or better) levels of support, CDS can save you as much as 50% on an OEM agreement, which would be a significant boost for your finances as you run through to year-end.
Reducing the pain
The lead-up to the financial year end can be painful, but there are things you can do to lessen the discomfort. Contact CDS today to discuss your options and we’ll see how we can help maximize what’s left of your IT budget.
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