How to Make Smarter IT Purchasing Decisions

Technology is ingrained in business; it’s an integral part of being successful. From video chats to interoffice text communications to the tablets used to log sales on-the-go, in one way or another you’re using technology to run your business. Making purchasing decisions regarding new technologies can be difficult (not to mention expensive), and the payoff isn’t always what you expected. For example, what if that new technology you just purchased for every member of your team is quickly outmoded?

The secret to making smarter technology purchases begins with research. Don’t buy anything new until others have had opportunities to test it out and report on their findings. Moreover, take the time to research a new technologies defects, reliability issues, and its more positive aspects. Write a checklist of what you require from new technology and use that to form well thought out purchasing decisions.

Technology Purchasing for Customer Management

Is there anything more important to your business than customer management? All small business requires some form of CRM software, and CRM requirements vary from business to business, which is why it’s beneficial to purchase that software after utilizing a free interactive CRM checklist. If you follow a checklist, you’ll only pay for the technology you need to manage your customer. You won’t end up with something that isn't useful and thus too costly for your business.

Technology Purchasing for Reporting and Bookkeeping

It’s no longer wise to do your bookkeeping by hand. Having a technological system in place (complete with cloud storage) ensures your mathematics are correct and that you won’t lose your important paperwork in the event of a fire or other disaster. That being said, there’s literally thousands of reporting and bookkeeping software programs. How can you know which is best for your business?

First, make a list of what you need from a program, such as spreadsheets, accounting, presentations, etc. Then, compare pricing. Microsoft Office is popular, but something else may cost less. Cost is an important factor, but it’s not more important than compatibility and ease of use. Only choose the less expensive program when it’s just as effective; otherwise, you may find yourself suffering from buyer’s remorse.

Now, how much will it cost to add this tech to your business? Compare this price to the cost of a third-party bookkeeper or accountant. If the accountant is cheaper, forgo purchasing the new tech and just hire an accountant instead.

Purchasing New Hardware and Peripherals

There are so many questions when it comes to tech purchasing, including hardware and peripherals. When making any types of IT decisions, always include the expertise of an IT professional. If there’s an IT professional on your staff, great. If not, you may want to seek outside consultation. The last thing you want to do is overspend on a costly new network only to find out you never needed it to begin with. The best thing to do when conflicts arise is to figure out which purchase make the most sense for the long-term in terms of effectiveness and budget.

You also need to determine if the tech will lead to growth. Investment News reports that “Younger business owners looking to expand their companies prefer to acquire firms with the most up-to-date hardware and software.” They do this because they’re still in growth mode, so they need the best tools to draw in new business.

New tech doesn’t have to be overly expensive if you do your research and figure out exactly what it is your business needs. That’s the hardest part. After you’ve got your answers, do some research about the tech you’re considering, such as cost, how long it’s been on the market, product reviews, and it’s usability. Be educated and don’t make rash decisions based on an immediate want or desire.