Do You Know How Technology Trends Are Changing The Insurance Industry?Read more
- About Us
- IT Services
- IT Security
- Our Clients
- Tech Insights
- Contact Us
- Support Portal
When it comes to determining an exact dollar amount to spend on IT outsourcing, keep a number of key factors in mind. For starters, there is no “right” or “wrong” answer to the question of “how much should I spend?” Every company has its own unique goals that need to be addressed by this decision. Only by focusing on what you’re trying to accomplish and determining the best course of action to take in terms of the overall value you’ll receive will you be able to come up with the answer that is right for you.
As stated, one of the most important things that you can do to determine how much money you should be spending on IT outsourcing involves taking a closer look at what it is you’re trying to accomplish by making this move in the first place. Do you want to be able to leverage the latest in technological resources without all the initial money usually required to do so? Are you having a hard time finding the manpower to manage your existing resources, and would you prefer to give up a certain degree of control in exchange for the greater efficiency that outsourcing provides?
One of the best aspects of outsourcing in general is that you can choose to move as much or as little of your existing infrastructure to a third party as you choose. If you go completely outsourced, for example, the money you’re spending monthly can pay for itself in that you won’t have to hire your own in-house IT staff. Even if you do keep an in-house staff, you can free them up from the normal challenges of managing IT to work on other projects that will actually help propel your business forward.
IT Outsourcing in the Cyber Security Age
Another important area of IT outsourcing to consider is that of security. When you choose to outsource some or all of your IT resources to a third-party provider, general network security and other infrastructure-related concerns no longer fall under the purview of your in-house staff. This means that not only is general network analytics handled by your provider, but also regular everyday functions like virus detection, updates, maintenance and more.
This situation once again requires that you look at things not in terms of how much money you’re spending, but as to the value you’re receiving. According to a study conducted by the Ponemon Institute, the average cost of a data breach in 2015 rose to $154 per compromised record, or roughly $3.79 million per incident. If outsourcing your IT infrastructure makes it easier to fend off these increasingly common types of attacks, you have to look at the situation from the perspective of both views: “I’m paying $XX per month to help keep my business safe”; AND from the idea that, “I’m potentially saving $3.79 million every time a large-scale cyber breach does not occur thanks to my IT outsourcing efforts.”
In the end, the answer to the question, “how much money should I be spending on IT outsourcing” is as straightforward as, “however much money is required to accomplish the goals you have in mind.” Because the ultimate return on investment isn’t measured only in dollars and cents, but also in streamlined operations, access to the latest technology and increased productivity — whatever you choose to spend will begin to quickly pay for itself tenfold almost immediately.
If you’re in Boston and would like to find out more information about how much your business should be spending on IT outsourcing, or if you’d like to get other answers to all of your important IT questions, please feel free to contact Radius Executive IT Solutions today by calling (978) 528-0110 or by sending an e-mail to email@example.com. We’re ready and waiting to leverage the power of modern technology for your benefit today.