With constant threats and the need for new and better tools, IT and cybersecurity spending can start to overwhelm a company. You can rein in expenses, though, with the right budget strategies and cybersecurity ROI calculations. Here are some tips to help you run your operations more efficiently while keeping your organization productive and secure.
Improve IT & Cybersecurity Spending Effectiveness
Start by creating a list of project priorities and identifying where your spending gets the highest return. This list will help you determine budget priorities. You can also consult with a managed services provider (MSP), which can provide industry best practices, an IT network and server assessment strategy, and cybersecurity strategy.
Another step to help stretch your technology dollar is to eliminate redundant tools and make better use of those you have. For example, many companies that invest in the premium license of the Microsoft platform don’t take advantage of all of its features–including Microsoft Defender. They may be too busy to configure the solution to their needs, so they find it easier to buy an additional antivirus application. However, Microsoft Defender is advanced enough for many organizations, and using it would save companies from purchasing an extra solution.
It also pays to audit all of your applications–especially cloud applications. Determine who’s using each of the applications you pay for. You can save money by eliminating unused applications and licenses. It’s also important to monitor what’s on your network and remove unused or unnecessary devices. An IT managed services provider can help you clean up your network by looking at usage levels to identify unnecessary endpoints.
Should You Use an IT and Cybersecurity MSP?
Most IT and cybersecurity management services providers will provide an ROI calculator or an ROI investment analysis of their services to help you decide if their services are right for your company.
Generally, if you won’t get a return that is the equivalent of what you pay two or more full-time employees, the solution isn’t the right fit for your organization. If you work with a service provider, you’ll likely see additional benefits. For example, they can provide insights into what successful companies are doing to save money. A managed security service provider (MSSP) can also help prevent major attacks that could cost in the tens or hundreds of thousands of dollars.
Follow Best Practices to Control IT Spending
These are some best practices to help you make the most of your IT and cybersecurity budget:
- Audit regularly. Assess your tools, practices, and priorities at least annually. Identify software that is no longer needed and remove unnecessary users from software.Then, you can regularly work on streamlining and cleaning up your operations.
- Maintain that efficiency. Develop the discipline to avoid old habits, like giving employees a login in case they need it. Continue to diligently manage users and software applications.
- Renew applications at the same time. Consider renewing all of your software applications around the same time each year so that you don’t become overwhelmed by decision-making.
How Corsica Makes the Most of IT and Cybersecurity Budgets
Here at Corsica, we can be a force multiplier for our clients’ investments. We can often provide a 2.5X return on the full-time equivalent of what our clients would pay an IT analyst. For that investment, the client gets access to the equivalent of an IT analyst, as well as access to someone who can manage their data center or cloud solution strategy.
When we begin working with prospects, we take the time to understand their needs and goals. As part of our pre-sales process, we begin by conducting assessments and audits. We then provide recommendations to improve their current landscape and establish a three-year roadmap for planning and budgeting.
Corsica offers holistic, bundled solutions that have already been proven effective for other clients. Rather than spending significant investments on individual solutions or new hires, Corsica provides access to a combination of software applications and a variety of technical experts.
We provide cybersecurity management services and work with companies of all sizes to lower cyber risks and secure data. We also help improve cybersecurity hygiene, which helps your organization obtain lower cyber insurance premiums. Corsica helps our managed services customers save around 20% through more efficient use and management of applications. In addition to lower operating costs, you lower the risk of costly cyber attacks.