Fall is officially here, which means that CXOs, IT departments and business decision-makers everywhere are rolling up their sleeves and laying down their 2019 information technology budgets.
Across the globe, IT budgets are on the rise, with Gartner's most recent projections predicting that global spending will hit $3.7 trillion by the end of the year - a 6.2 percent year-over-year increase. The research firm expects this trend to continue over the next 12 months, as IT spending is predicted to increase 2.8 percent worldwide, eclipsing $3.8 trillion.
That doesn't mean that there's an endless supply of money to throw in the direction of the IT department. Resourceful companies balance their day-to-day operational needs with investments in disruptive technology. Want to wisely distribute your technological investments? Then prioritize these areas in your 2019 IT budget:
"Pull the trigger on an IT infrastructure overhaul."
Refresh aging infrastructure
It's no secret that outdated network and IT infrastructure continues to hold many companies back from capitalizing on the latest and greatest technology. According to a recent Spiceworks study on 2019 information technology budgeting trends, upgrading old IT architecture was cited as the biggest driver of budget increases this year.
IT infrastructure refreshes are typically expensive endeavors - and potentially disruptive to daily operations if they drag on for too long or run into unexpected problems - which is why so many businesses hold off on making such an investment. However, as the Spiceworks study noted, more than one-third of medium-sized businesses planned to increase their IT budgets this year due to corporate tax cuts.
There may not be a better time to pull the trigger on an IT infrastructure overhaul than right now.
Deploy managed IT services
Regardless of whether businesses plan to finally update their IT infrastructure, it's always a smart decision to invest in managed IT services. These solutions are able to fill any gaps in an organization's technological capabilities. That could include cybersecurity, network performance and monitoring, system maintenance and disaster recovery, among many other IT focal points.
It's no wonder that Gartner predicted IT services to be a major growth area for IT budget increase throughout the rest of the year. For companies that want to get the most value out of their 2019 budgets, managed IT services give them the best bang for their buck.
If you want to work with one of the best IT managed service providers NYC has to offer, consider partnering with TEKConn. With reliable service delivery, an experienced team of IT experts and an always-on support staff, TEKConn offers enterprise-quality IT services at a fraction of the cost.