By Kayla Coco-Stotts Posted November 6, 2019
With companies locked in an almost-constant battle with fiscal fluctuation, IT organizations are wondering how to best deal with the looming “what if” question of a recession. While it’s impossible to gauge economic success with 100% accuracy, it’s important that companies take steps to recession-proof their organizations from the harmful impact of major downturn.
Preparing for a Recession
IT departments are a vital cog in the elaborate machine that is an organization, and are often affected first by strategy changes or budgetary issues. Thankfully, much of the work involved in preparing for economic calamity provides benefits to IT organizations by making them more organized and productive, whether or not the recession comes to pass. Therefore, by investing in recession-proofing IT, companies strengthen their overall operations, enabling IT and other departments to continue working on revenue generation, cost control, product development, and communication.
However, since IT organizations manage an expanse of systems, networks, and applications — and have to pay the associated costs for those services — it is difficult to simply reduce expenses allocated to IT and move on.
Therefore, we’ve amalgamated a collection of tips from around the industry to help guide how to go about adjusting IT budgets to maximize output while still being prepared for the worst. Using these tips, IT leaders have an opportunity to protect their function and prepare an entire organization for the possibility of a downturn.
4 Tips for Recession-Proof IT
1. Prioritize & Focus
An IT professional is arguably involved with all aspects of an organization, so it is important to document and rank all areas of focus for the upcoming quarter or year.
To prioritize workflow, an IT admin should:
- Evaluate the entire IT landscape for their organization;
- See what should be prioritized;
- And understand what can be optimized.
Is there something that can be slated for a later date that could alleviate some of the financial burden weighing down an organization? Is the IT department allocating funds to pay for licensing that could be reevaluated for a less expensive (Read more...)