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There’s no doubt, 2020 has been a period of massive change. The pandemic has forced businesses to change the way they do business–for example, more staff are working remotely than ever before. Read on to learn more about what to consider when planning your technology budget for the new year.

 

Consider Business Objectives First

In 2021, according to a CompTIA report, business technology spending is expected to grow by 4.2% in 2021 reaching over 5 trillion for the first time. Cloud is expected to be significant, showing up again as a trend after being out of the spotlight in 2020. Companies are expected to use the cloud as well as emerging technologies in the coming year to drive digital transformation, support work-from-anywhere requirements and improve communications and collaboration between employees, customers and the supply chain. Technologies like the Internet of Things (IoT) and artificial intelligence (AI) are expected to be embedded in business applications–for example, improving inventory control or for data processing operations.

 

When considering your tech spending, consider how technology can help reach business goals. Are you expecting remote work to continue, or even to hire more remote workers? Perhaps consider allocating more of your budget to cybersecurity and skills training. One thing to consider is the strength of your network, and whether you need more bandwidth or to focus on network security. 

 

Cybersecurity Still a Constant

With remote work now common, the security perimeter has changed. Instead of being in the office, it is now wherever anyone is accessing the network. A new paradigm has emerged wherein access to networks needs to be more specific, and where threats are possible within the perimeter. More resources may need to go to keeping data secure, including training employees to do so. What’s more, regulation of the tech industry will be in the spotlight, with enforcement of regulations for handling user data. Whatever your business prioritizes, flexibility and resilience–the ability to build an adaptable architecture and to withstand disruptions from many directions–will be necessary in digital transformation.

 

While 2020 has brought about many changes, it has also brought opportunities to move forward in using technology for business advantage. For help in charting your company’s technology course, contact us today.