Nothing is more true than the fact that IT moves quickly these days!
Part of keeping up with IT and the rapid changes is making sure that your business has the right equipment to do the task. In this article we will be providing a few ideas for how to make a plan/budget for new or replacement equipment, as well as offering you some information on leasing. Firstly budgeting for IT hardware Most businesses will have a budget for IT hardware and other goods and services that they need to operate. Our advice is that if you have more than a handful of computers, you will benefit from forecasting and budgeting for IT expenditure. Once your business is established, there is a very good chance that you will need to replace your IT equipment every few years. Such a good chance, in fact, that you can plan on it! Drawing up an IT replacement schedule helps you plan well, and helps ensure you have the funds when you need them. This can be done in conjunction with our team at Decision1. If you don’t have a list already, we can do an audit of the IT equipment that you have, the date it was installed, and therefore when it is likely to need replacing based on its expected life. This asset management plan needs to be revised every year for budgeting purposes. We strongly suggest that you do this years in advance of when you actually require upgrades. It’s not hard to do. This list can help you have a clear and actionable plan on existing equipment, when warranties expire, and the requirements for a staggered plan for new hardware. A look at leasing: Whilst many of our clients purchase outright as the overall cost is lower, leasing can be a good option for when you are starting out, if your business is expanding rapidly, or if cash flow is wrapped up in other parts of the business. Leasing turns capital expenditure which has to be depreciated, into a monthly payment that is immediately expensed. It can also be an advantage in keeping assets off your balance sheet – speak with your accountant or advisor about this. Obviously the disadvantage of leasing is that you are using someone else’s money and so they will need to charge you for that, as well as for their efforts! You could arrange your own finance and purchase, instead of leasing, in which case it pays to do your research on interest rates. Upgrading your technology for modernisation and expansion and to get more reliable up-to-date technology is very important, as using outdated technology can cost money and time (and expensive IT call outs!). Sometimes it is a case of weighing up your options here. Using leasing options, your business may be able to move forward more quickly then it otherwise may have been able to, financed in a way that suits your budget or cash flow. Whilst leasing is more costly than buying in the long run, one of the advantages is that you can establish predictable payment structures aligned to your needs, taking the stress out of an upfront payment. This all means that you can get the technology you need with the budget you have today by utilizing IT leasing arrangements. “When I became self-employed 20 years ago, I got my first laptop and setup via Flexirent, as it meant I didn’t need to spend the cash and then have the asset/depreciation. Instead, I kept the cash, and the entire cost was a relatively small monthly expense. So, sometimes, especially for new start-ups, it means you can save your cash for something you do need, or as a reserve. For more mature companies, taking a lease for gear, means that the cash can stay with you, which can help with liquidity.” Comment from ITA member. Leasing options: These are just a few of the leasing options that some of our IT Alliance members use. This is by no means conclusive, and we are not aligned with any of these companies. All of our advice is simply that, advice. Please make sure you do your own thorough research on this subject. Never before has the saying ‘read the small print’ been more applicable. We strongly advise that you speak with your financial advisor and or accountant about this. Feefunders From Fee Funders website: Your business receives 100% of the customer invoice paid upfront, whilst your customers enjoy the flexibility of monthly installments. Fee Funders manages the monthly customer’s payments by direct debit over three, six, nine or twelve months . Your business achieves upfront cash flow at no cost. Your clients pay a basic interest rate to achieve a spread of their outgoings. It’s like outsourcing a spread payment option for free!
Flexicommercial Flexicommercial offers your business flexible equipment finance solutions. The credit criteria for finance varies depending on whether you are an existing or new business and the required amount of finance.
Hint – Leasing companies will usually be quite happy to include IT engineer setup costs in the value of the lease. For larger or more complicated systems, this can be quite a substantial part of the project costs. This means you can also expense those costs as well. In summary working closely with us to do an audit of your current equipment, and make a plan for future expenditure, makes good business sense. Something that makes this type of IT cash-flow of forecasting easier, is if you work with an MSP (managed service provider). Being on a Managed Service agreement removes many of the fluctuations of IT budgeting as generally you pay a fixed monthly fee for IT support. Reach out to us here
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What should I be doing to secure my business?
One of the first things about Security is realizing that security is much more than stopping people “hacking in”. It is fundamental to any business to have a business continuity plan (BCP). If you plan for a power outage what happens? Your IT systems will be down. Can I use the same plan if an outage occurs to my IT systems and it’s not a power problem? Security is the foundation of resilience. The hardest part about security is getting started. Often, it’s on the “to do list” until it’s too late. Hopefully you have already talked to your IT Alliance partner and had the security business continuity conversation. If not “What should I do first” is a common question? Rather than recommend one single thing, the answer should be – “Have a plan” So, what does your plan need to cover?
Look at your plan as being a holistic business continuity plan, that is a living document. Continually revisit, update, fire drill, and improve. Many of the incidents we see disrupt business are due to poor Cyber hygiene not some advanced nation state hack. Do the following to enhance your security:
Can my staff trust that the Cyber workplace is as safe and secure as possible? If it is, you will see productivity and creativity flourish, staff retention rises as well as the ability to recruit new staff. “She’ll be right” – Is not a plan! “No surprises” is a plan. For further advice, contact us to discuss creating a plan for your business. By Paul Caldwell – Microsoft Security BDM Often people are suprised by the costs of owning a website, as well as what is required to actually get the most out of your website.
Here we look at the costs, and ways that you can maximise benefits from your website: 1) Hosting: this can be either a monthly or annual fee. 2) Regular maintenance, security and updates: A service provided by your IT provider to help stop your site failing, glitching or getting hacked, 3) Routine backend maintenance of your site. 4) Keeping your website updated and fresh: This includes adding fresh content and articles, for example updating photos and keeping product details updated. 5) Small change requests: Whilst many web development companies might build you a site, they may not be equipped or even well suited to handling small change requests. Finding someone who handles IT tickets all the time every day means that you can just email your request and it will be done. 6) Knowing who is visiting your website. This is crucial to the success of your website. You must analyse who is visiting and how you can improve your organic reach. You can get reports for as little as $5 a month, or more detailed custom report which help to understand who is visiting your website. 7) Marketing your website: In other words actually getting visitors to your website
More on website Hosting: Once your website is developed you may find that there are so many web hosting options, that it feels slightly overwhelming. Before you go with the one with the cute adverts, or the cheapest ones, here are a few crucial things to consider:
What you need to know about Web Hosting ?
Your ITA member will ensure that the hosting they provide for you is high functioning and gives you good value. With the myriad of options that are available, this saves you valuable time and money. In Summary: Knowing some of the costs of owning a website at the outset helps with budgeting for success with your website. The advantages of having a good quality web host are many. It really does help with the success of your website in the long run, as well as stand you in good stead with your website security. We can help you with this important decision by providing information on how best to progress with your budget and strategy. Contact us here What actually is the CLOUD?
Great question. The term ‘cloud’ can cause some confusion as it can make us believe that data is stored somewhere in the sky. The truth is that data is still physically stored by companies who offer cloud storage. The cloud is basically “a large computer somewhere else.” Cloud storage warehouses are huge business. They have dedicated servers whose sole job is to send and receive data all day. The spaces are massive, with rows and rows of servers, sometimes upwards of 1 million square feet. There are two key types of cloud-based services:
Why would you move to the Cloud? Storage Space: When you move to the cloud, you no longer have to store all that data on your own hardware. You still have access to your documents, media, or reports, but the third-party provider will likely have more storage space and processing speed, making your onsite technology function better. Minimising Risks: By moving to the cloud, you are cutting out common cybersecurity risks. You don’t risk storing data on laptops, which can get lost or stolen. You also end the need for thumb drives (or USB drives), which can also be stolen or lost. Plus plugging in these external devices can also expose you to viruses or other risks. Security: Sometimes we feel our data is more secure having our data on-premises, but these days that isn’t always the case. Data can be safer in the cloud than on-site at your business. Advantages of the Cloud:
When the Cloud might not be your best option: Internet Connectivity: Cloud migration makes your business reliant on internet connectivity. If you have frequent outages or slow speeds, these conditions are not great hosts for cloud computing. Make sure to get this sorted out with your IT Alliance member first. Large amounts of Data: For some companies that have huge amounts of data transfer, such as video editing, the cloud may not be the best option. Limited local support: A lot of the Cloud storage centres are overseas, which may mean that the support is limited, and service sub-par. Costs of the Cloud: The costs can be high with cloud hosting and sometimes. In talking with your IT Alliance member, you can work out what is the best option for your business. “One IT Alliance member moved their client from Cloud hosting to a physical server as the client had experienced such rapid growth that the fees for the cloud were becoming hefty. The savings worked out to be over $50,000 to purchase a physical server and pay for the IT Alliance members services” Making your data more secure in the Cloud: Encrypt your data: Make sure you contract with a provider who will encrypt data in transit. This makes it more difficult for hackers to get at your information. Multi-Factor Authentication: Enabling multi-factor authentication can also help secure data by adding layers of security. It moves your data security beyond just asking for a username and password. Compliance Regulations: Depending on your industry, there may be particular standards for data storage. Encryption is a common compliance expectation. Training your team: Training your team on the importance of securing data is important, especially with people working remotely and connecting from off-site locations. What next? To cloud or not to cloud is a question that requires discussion. Our team can help you sort out what the best option is for your specific needs. Contact us here. All about a Cyber Security Policy:
If you own a business, it is important to have a cyber security policy. This is not only a guide and reference to be used internally with your employees, but also as a reference point to deal with any external data from customers. Your Cyber Security policy should be thought of as a moving, changing entity that will need to be updated regularly to keep up with technological advancements, and any changes within your business. What does your Cyber Security policy need to cover? Firstly no two cyber security policies will be the same. Your Cyber Security policy will be unique to your business, depending on your particular type of business, and what kind of data you deal with. The first thing you need to do is to identify the particular risks for your business. If you are an accountant for example, your focus is on how you deal with customers’ personal information, bank details, IRD number etc. Once you have worked to clarify your specific risks, you can then prepare for what to do if something goes wrong. Your IT Alliance member has knowledge of a wide variety of industries, and will be able to assist you to clarify what you need to be mindful of. Having a clear plan in place, means that everyone in your organisation knows what to do, who is responsible for what, and what processes you have in place to mitigate the risks. You will also need to create two cyber security policies. One, an internal one for employees, and the second one is a public one for customers. What needs to be included in the Policy? The below information has been taken from the Cert nz website Cert NZ suggests that you break your internal policy down into different areas. Data This should cover how you handle data safely and securely — both your business’s data and your customers’. Think about:
Systems It’s important to identify what systems you have, and which ones are critical to your work. Consider:
Security and protection Security and protection covers how your staff and customers access your systems and data. It means thinking about:
People and users You need to think about what you consider to be acceptable use of your business’s systems. How do you expect your staff and your customers to interact with them? Make sure you set expectations so they know:
Physical devices and systems When you think about protecting your business’s devices and systems, make sure you cover both:
Problems and incidents You’ll need to define what you and your team will do when things go wrong. This means creating an incident response plan to map out what you’ll do during, and after, a security incident. It can be a stressful time for both you and your staff, so it’s good to be prepared in advance. What next? The team at Decision1 are used to helping clients with their Cyber Security policies. Reach out to us here and we will be able to assist you. We love an upgrade, and the IT button is no different! We have been very busy making this neat little tool even better. Do you have any thoughts for our next upgrade? We would love to hear your ideas and suggestions. Send them to ask@universalsupport.co.nz
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AuthorVictoria Murgatroyd-McNoe has been working in the IT sector helping businesses achieve their technology goals for over 20 years. Archives
November 2022
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