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Six ways to save money on technology for your business

Jan. 21, 2022 Business Insights

Explore our top tips on how to save on tech and improve your company’s spending 


When buying new technology, it’s important to consider all of your options and make decisions that will improve your business’s bottom line. Whether it’s for individual employees or company-wide, the latest technology can be quite expensive and the choices may seem daunting at first. 


Acquiring the best tech gear for the best deal is something that isn’t difficult to do if you have all the information you need. Before spending a pretty penny on the latest laptops or software, conduct research to determine how to acquire the right tech for your business for the best deal. Also, take into consideration why and if you need new technology or how it will improve your company’s efficiency.


Keep reading for our top six tips on the best ways to save money on business technology.


Tip #1: High cost doesn’t mean a high-quality product.

Don’t let the expensive cost of some technologies fool you! Just because a product is priced higher than others doesn’t mean it’s the best in the industry, or most importantly best for your needs.


Determine what specs you are looking for based on your business demands and compare the quality of the products against the price before finalizing your decision. 


Tip #2: Consider the product benefits.

Some technologies come with extra benefits or accessories that may be of use to your company.


For example, the technology company may offer customer support services available to buyers for a fixed monthly price, which can help with managing your budget.


Explore a product’s reviews to understand what people think of their optional benefits and accessories before choosing your product to purchase.


Tip #3: Skip the warranty.

In some cases, committing to a monthly payment on product insurance or a warranty may not be the smart investment.


Often, these warranties trap you into spending money on something that you don’t even necessarily need. Skip out on the extra purchase and save your business a little extra in the long run.


Tip #4: Upgrades aren’t always necessary.

Although it’s often tempting, a newer version of a technology product being released a few months after you purchased doesn’t mean you need to upgrade immediately. Chances are that your current product is going to do just as well as the latest version. Do your research, skip out on unnecessary technology upgrades, and don’t waste your money. 


Tip #5: Change systems for longevity.

If your business is relying on severely outdated technology systems, consider changing your current systems to the latest available because investing now can mean an increase in savings later.


For example, traditional phone systems are outdated, and taking on a VoIP phone system could end up saving you more on many levels. Devices, services, and maintenance are all more cost-effective with business VoIP phone systems over analog landline phones. 


Related resource:

Why you should invest in technology upgrades for your business


Tip #6: Find discount providers.

Major technology equipment companies have partners with other businesses that are trained and authorized to supply their products to their customers. These partners have access to discounted equipment that a general consumer does not. 


As a business owner, consider working with a partner like an IT service provider who can not only help you get discounted technology but also share their knowledge on the best products for your needs.


Partner with an experienced local IT company

Taking these tips into account before making big purchases on technology can help your business save money in an impactful way. When it comes to small and mid-sized businesses, minute financial details are important to keep up with and attention to detail on technology spending is a great way to do that. 

You may not have the budget or need to hire an in-house IT support staff, or the desire to continue paying too much for hourly by-the-job IT support contractors who seem to create more problems than they resolve. Did you know there was a third option? You can hire a local IT Managed Service Provider (IT MSP) that offers monthly flat rate prices to handle IT support needs and help you make smart decisions when it comes to saving money on your technology.


How NeverBlue IT can help

At NeverBlue IT, we will advise you on what technology is the best fit for your company while working with your budget and expectations.


With over 30 years of experience partnering with businesses across Central Florida and Southeast Michigan, we can help you achieve more with a comprehensive range of IT solutions.


If you’re interested in our IT services, contact us today to learn more. 


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