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Take a look at what you have spent on technology over the past three budget cycles. Your chart of accounts (COA) should be able to distinguish IT spending from furniture, insurance and other non-technology related expenditures. If not, reclassifying a few categories in your COA can help.
Many companies assume that it is impossible to predict when you're going to need new infrastructure devices or move everything to the cloud because technology changes so rapidly. When something fails, it becomes a business emergency. With careful budgeting and a predictable plan, network and server equipment failures become an inconvenience - not an emergency! If you think you are ready to move your operations into the cloud, be sure you know all the costs associated with that strategy!
By establishing a clear picture of your predictable, recurring operational costs along with approved projects, you can develop an accurate IT budget. You will also be able to use that budget template along with your IT Strategy to create a reasonable spending forecast that aligns with your established business strategy.
an estimate of income and expenditure for a set period of time
ALIGNING TECHNOLOGY WITH BUSINESS