Financial Data
Updated 26 Feb 2020

Avoid costly IT purchasing mistakes

Almost 60% of SMEs spend less than 1% of their turnover each year on IT.

02 April 2012  Share  0 comments  Print

All the answers to your unique business lifestage questions

Make sure that you spend that money wisely by not making these common mistakes when buying technology.

  1. Basing your buying decision purely on price: Quantify the real costs and savings that a system could create for you, and consider its full value, rather than just its purchase price.
  2. Buying products, not solutions: Many small businesses buy their IT from retail outlets and stores, which offer individual off-the-shelf products. Consider making your purchases through a specialist distributor who can implement a broader solution. This can be more cost effective, while the additional services that the distributor provides (such as training and support) often mean you get more value for money.
  3. Not having a vision: Make sure you have a vision of where your business is going and how your growth will develop. Technology is only effective if it matches your business processes and helps you achieve your goals.
  4. Not calculating return on investment: Try to quantify, in monetary terms, the value that the system or equipment will add to your business. Weigh this up against the running costs to see if it will deliver what you expect.
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