How to accurately predict annual hardware expenses

Pulling together your budgets for next year?

While it might be hard to know how much your business will spend on software – especially as your needs change throughout the year – you can accurately budget for your hardware for the year. Hardware expenses can be hefty on your pockets and mental health.

Just ask yourself these 5 key questions when you begin to budget for your hardware expenses.

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Budgeting can be tricky. Especially when it comes to your technology.

While you never know what new software you may want to invest in, hardware can be more predictable.

Aside from theft or accidental damage, the life expectancy of devices should be easy to plan for.

There are five key questions to help you create an accurate hardware budget.

Number one: What hardware will need an upgrade or replacement? Remember, as a rule, you should be working on a three to five year life cycle for computers.

Number two: What are your plans for growth? And could this be limited if you stay with the same hardware?

Number three: How critical is the hardware? What would be the impact on your business if you suffered downtime due to aging hardware slowing down?

Number four: What’s the risk to your security if you stick with older hardware?

And number five: How will replacement hardware increase efficiency and reduce downtime?

Answer these five questions correctly, and your hardware budget will almost write itself.

They’re easier to answer with your technology partner. Can we help you analyze your existing hardware and plan ahead?

Let’s talk.

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