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Q&A - How Can IT Asset Management Help Me Produce a More Accurate Budget? |
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Q. - How can I actually use IT asset management to help me build next year's budget?
A. In my experience with companies from around the world, I have found that the generally accepted method of creating a yearly IT budget is to simply take the current budget and either increase it by a given percentage (usually something complicated like: add 10%) or to repeat the existing budget figures. There's a better and significantly more accurate way.
If--that's an enormous IF--you are maintaing correct technology asset management firgures, then you will know precisely how much next year's budget needs to be to make expenses (or to grow). However, fewer than 20% of companies actually maintain those asset management figures. Also, unfortunately, the small number that actually does maintain the figures cannot depend on their accuracy.
Solution: Start, right now, documenting all ongoing costs, renewal costs, support and maintenance fees. These figures alone, if kept accurate, can vastly improve the clarity of your budgetary process.
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