The pace of new technology adoption and innovation to help prevent future disruption while remaining competitive has accelerated beyond all expectations. When the global pandemic first hit, businesses scrambled to get their workforce and operations back online. What would have taken months, suddenly had to happen instantly.
Now, as CIOs continue to drive transformation, there are several ways to get access to the technology needed to recover and grow without having to break your budget.
1 Don’t own it
Pay to use has never been a more attractive model than it is today. With a large proportion of employees in many industries expected to work remotely for the foreseeable future under a hybrid workplace model, the number of office branches is likely to increase. You will need to upgrade your infrastructure so that it can be scaled quickly to support a user experience that keeps employees productive and secure.
Without having to compromise on your priorities, there are options that allow your business to use budget effectively as you plan your recovery. IT-as-a-Service allows businesses to get the technology needed with no upfront costs, and they can pay over time as they use it. Entire infrastructure solutions can be implemented with supporting technology, software and tools—all paid for using subscription-type models. Not only does this alleviate some of the budgetary pressure, but it also lends itself to an asset-light strategy that many businesses are now striving for.
2 OpEx vs. CapEx
As the CIO, you’re trying to lead your organization through digital transformation while making it as painless as possible. With many industries continuing to lean heavily on finance to underpin pandemic related shortfalls in revenue, justifying any CapEx can seem impossible. But, IT financing can help avoid large initial technology investments, enabling you to shift budget priorities and support key transformation projects. IT financing further supports simplifying accounting by rolling all your technology needs into regular payments, making it easier to track against budgets and allow the business to follow market trends, upscale to evolve, and increase competitiveness.
3 Go green and get more for your money
You can extend available budget and shrink your company’s carbon footprint by using certified remanufactured equipment. This allows you to access equipment at a more competitive price while still receiving the same warranties and product support. In addition, by financing this equipment you can upgrade when you need to and offset the cost against future revenue.
4 Begin with the end in sight. Your CFO will thank you!
Managing technology can be complicated, particularly as we all look to return to some semblance of normal. Creating a lifecycle management plan for the technology needed at this time can help avoid a future of depreciating assets, while also helping you stay ahead with the latest innovations. IT budget planning becomes easier, and you can run your businesses more efficiently with up-to-date infrastructure and the latest software solutions. This helps align OpEx payments with the benefits gained from refresh lifecycles, while managing cash flow and budget needed to further grow your business, as well as removing depreciating assets from your CFO’s balance sheet.
5 True up, true forward. Take the guesswork out of unpredictable usage
As your business evolves and you update your infrastructure to enable the best collaboration and customer experience to remain productive, effective acquisition of the right technology can help you meet your business goals and grow. Forecasting user uptake of new technology is hard enough with all the proper pilots in place, but when new tools are services are stood up in a hurry, predicting capacity can be a huge gamble. However, access to as-a-service, subscription-like models or spreading the cost of your solutions over time allows you to focus on your other priorities and fund other investments.
Cisco is here to support you as you expedite your digital transformation. Along with Cisco Capital, we can help you determine not only what to buy but also how to buy it to match your business requirements and budget strategy. Whatever your plans are, we’re here to meet you where you are.