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In 2021, IT Investments Are Essential but Uncertain

In times of financial strain, IT budgets can, unfortunately, be one of the first line items to go. With so many things up in the air for 2021, business leaders will need to inspect their budgets with extra scrutiny.

Putting off IT expenses can create what techies call technical debt. Technical debt, also referred to as tech debt, code debt, or design debt, describes a situation when technical quality is sacrificed in exchange for a speedier delivery.

Regardless of the “why,” going into technical debt can become a black hole, affecting more aspects of your IT program than expected.

In today’s ever-changing technology environment, here are the top IT investments companies are making for 2021.

Prioritizing Digital Transformation

In a recent survey on U.S. technology spending, companies were split on what direction IT spending will take in 2021. About a third of IT staffers reportedly expect a decrease in spending, while nearly half reported the opposite — an increase in overall dollars allocated to IT expenditures such as digital transformation.

Inside most businesses, this transformation means a continued focus on remote access and the capabilities for workers to use any device anywhere at any time to access work applications.

From a revenue-generation standpoint, companies will continue to promote “all things online,” providing better customer experience, diversified revenue sources and greater access for product and service orders and fulfillment.

Continued Adoption of the Cloud

More than half of respondents to the survey expect to increase investments in cloud services this year. Experts believe that business leaders will continue to propel a significant increase in cloud spending, as they chase innovation.

The cloud supports remote access well and provides an additional layer of cybersecurity, also expected to be a hot button in IT planning this year. With an increasing number of teams working remotely, protective measures are necessary to limit exposure to malware, phishing scams, false networks, malicious pop-up ads and more. Considering that cybercrime is expected to cost the global economy more than $6 trillion in 2021 alone, the time to act is now.

Further to the point, a business’s average cost of recovery from a ransomware attack today is more than $84,000. Beyond the financial consequences of ransomware — or any other type of malware — businesses are at risk of compromising their reputation and client relationships if they don’t take steps to combat cybersecurity threats early on.

By partnering with a trusted cloud services provider, your clients can be assured they are protecting their sensitive information and reducing their risk of attack. The following benefits are direct benefits of businesses shifting their operations to the cloud.

Cost Efficiency

Among numerous other advantages, cloud services are often praised for their cost-efficiency. This advantage is particularly relevant when it comes to businesses that continue to use traditional, in-office hardware each and every day. By trading in bulky hard-drives for convenient cloud services, businesses can streamline their physical office spaces, day-to-day operations and overall IT expenditures.

Utilizing the cloud immediately cuts out recurring maintenance costs that often accompany old-school IT hardware. On the cloud, businesses pay for what they use, as they go, without cumbersome hardware that keeps businesses stuck in the old days. What is more, cloud management, maintenance and related services typically come at no additional cost outside of a fixed monthly fee, compared with hardware maintenance that generally constitutes an additional expense.

Finally, when it comes to business expansion, the cloud offers a wide range of scalable services that can easily grow or downsize with teams. Due to its ability to deliver convenience and scalability without breaking the bank, cloud services are becoming an increasingly popular option for businesses big and small.

Real-Time Collaboration

Yet another advantage of transitioning to cloud services is the possibility for employees to collaborate easily, whether from remote locations or in the office. Although more and more teams aren’t able to work together in person due to the pandemic, cloud services help bridge the gap from in-person collaboration to equally — or even more — productive remote working configurations.

In addition to enhanced communication tools, a cloud service provider can facilitate file, document and screen sharing for highly efficient teamwork. Colleagues can see real-time updates, comments and notes on team-wide projects, which cuts down on wasted time and helps teams achieve their goals faster. A cloud platform is conducive to enhanced creativity and brainstorming, thanks to the ability to quickly relay ideas to colleagues and put them into action.

Gone are the days of trying to keep track of the latest version of a team project — now, everyone who needs access to a document can see and edit its most recent version without jumping through unnecessary hoops.

Get the Secure, Affordable IT Support Your Business Desperately Needs

At CPU, we offer secure, flexible and agile cloud solutions exclusively for MSPs. Just like you, we provide white-glove service, and we only serve MSPs, never competing for your clients. You work hard to gain new business and we can serve as a useful tool in your arsenal.

Since 1986, our experts have been working hard to provide MSPs like you with exceptional cloud services that revolutionize the way you do business. Not only do our knowledgeable professionals offer 24/7 support for all products and services, we are also proud to provide informative training for your support staff, controlled, transparent costs and highly secure data centers. By switching to the cloud, we can help simplify your business’s workflow, management, pricing, margin analysis, billing and more.

If you’d like to talk with us about how we can help you, please reach out by email or give us a call today at 866-883-8836. We offer a full-service solution that you can rely on and trust, from cloud design to cost contaminant, migration, security testing and even special projects.

Find out how we can help make this year your best year yet!

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