End of Financial Year IT planning
The end of financial year (EOFY) is an extremely busy time for many Aussie businesses. It’s also a good time to review your business performance and business plan to ensure you’re on the right track for the next financial year. Now is the time to potentially invest in IT and make sure that you are aligning IT plans with business plans.
Centrix can help you assess your current IT and help you understand where you might need to invest. As you start planning for the end of financial year, key areas which may require investment are:
- Infrastructure – Allocate a good portion of your budget to your base infrastructure. It should be your priority whether it’s in the cloud or on premise. Hardware typically lasts 4 – 5 years, so depending on the age of your current hardware, you may need to allocate budget for replacement to prevent issues relating to hardware failure.
- Bandwidth – With the NBN on the way, Aussie businesses will soon be competing in a high-bandwidth environment and you don’t want to lag behind others. Get the speed you need to increase your business’ efficiency and productivity.
- Upgraded licences for your software – Ensure your software is up to date and that you are working on current versions. It’s also important to make sure there are no unauthorised copies of software being used. Also ensure that the license quantities are sufficient for your needs.
- Back-ups – Do you have a rigorous system and the right infrastructure for managing back-ups? It’s prudent to test your back-up process to identify any gaps or problems. You may need to look at engaging a 3rd party to manage back ups or to invest in cloud or other storage systems for storing your backed up data.
- Staff training – Are your IT systems effective and being used to improved productivity and efficiency? A review of systems and how staff are using them may identify whether extra training is required to ensure that your systems are delivering business efficiencies.
- A Disaster Recovery (DR) Plan – A disaster recovery plan reduces the risk in your business and acts as important insurance, keeping your business running in the case of a disaster.
- Software – There’s constant developments in software for businesses, enabling financial management, collaboration, project management, workflow management, CRM systems and more. An IT expert should be able to evaluate your business needs and provide recommendations of suitable software systems to help boost productivity and efficiency.
- IT Support – Outsourcing your IT support arrangements can often provide you with a higher level of support for less than employing an IT professional. Review your current support costs and investigate alternatives.
Those who plan to stretch the value of their current IT system should be fully aware of the risks that may be associated. By putting off major IT investments you’re not just delaying the inevitable but most likely missing the opportunity to gain increased efficiency and productivity in your business.