IT Budget

IT is an important investment for your organization. Using a budget spreadsheet can make the process less painful and allows you to build a foundation for year-round and year-after-year budgeting. Complete the form below to access this complimentary budget spreadsheet as our gift to you.

• As you make purchases, track it in the spreadsheet.
  • This includes all recurring costs, such as contracts, software licenses, etc. Remember to take into account when a recurring cost is annual vs. biannual or more.
  • Remember unplanned purchases too. Tracking this information in your spreadsheet will help you forecast annual budgets in years to come, along with helping you justify those forecasts.
• Track employee costs that would affect your immediate budget, such as salaries, benefits, expenses, etc.
  • New hire costs can take a toll on your budget, so it would be a good idea to also track new hire costs.
  • Another employee cost that some managers forget about is training. Training allows your employees to stay with the times and grow in their position and within your company.
• IT departments usually maintain various vendor contracts. A best practice would be to track each contract, along with the renewal date and renewal conditions (e.g. auto renew, written notice to cancel, etc.).
  • Also, set a reminder to evaluate other vendors for cost, quality, support, etc. prior to the renewal conditions expiring to always give your company the best of the best.

Setting up your IT budget the right way, helps your annual spending, as well as saves you time and effort when it comes to next year’s budgeting process.  If you need any help determining a budget that makes sense for your company, give us a call (713.351.5196) or email us (info@chrmanagedservices.com)  Or, simply download the spreadsheet and get started building your budget today!