As an MSP, Hammett Technologies understands how important it is to save money without degrading the quality of service. However, when it comes to saving money, businesses often aim to “freeze” current subscriptions for a short while, going without services for a short time in order to save money. What is often overlooked is that this is a short-term money-saving strategy and will ultimately do nothing to help your business. Instead of “freezing” assets, look for areas in your IT department that can be reduced and cut back on permanently. Similar to our last post discussing how your business should target immediate impact areas, it is important to assess the importance of anything you are “reducing” from your business.
Don’t Freeze, Reduce
When it comes to saving money, it can be easy to cut back on some subscriptions and licenses that are not immediately necessary. However, this tactic often overlooks that that money-saving strategy only solves your business’s monetary concerns for a short time. You are not removing those subscriptions from your docket, rather you are “freezing” them. This means that, unless you are able to increase your business’s monetary income substantially, by the time it comes to renew those subscriptions and licenses, your business will be seeing red again.
Hammett Technologies recommends that you begin to look for areas in your IT department that can be reduced and removed completely. This strategy, while more difficult, will result in your business being better able to track its profits and losses without worrying about “frozen items”. We understand that it can be difficult to track down and eliminate areas your IT department may not need any longer, but in order to ensure the safety of your business and those who are working for you, you must be able and willing to reduce, not only freeze assets.
A Business Partner You Can Trust
Ensuring that your business can stay afloat through pandemics, economic crises, and other serious situations is not only important to you, the business owner but to Hammett Technologies as well. As a family-owned, self-started business, we understand the lows and highs of the business world. We want your business to succeed, and we believe that by following these tips, it will not only succeed but thrive.