How to Ensure Ultimate Cost-Efficiency for your IT Project during an Economic Downturn

As the UK faces an economic downturn with rising energy costs and inflation wreaking havoc on the economy, many businesses will be looking to scale back their budgets and ensure they are using the most cost-efficient IT resources available. 

In this blog, Jamie Wilson, tech director at Novatech, will explore how you can ensure your projects are as cost-efficient and scalable as possible to help soften the impact of the present economic outlook and expected squeeze on IT budgets.

A robust company equipment returns process is essential

When an employee leaves your company or moves into an alternative role, often their IT equipment becomes redundant, and when this happens it is vital that you have a robust returns process in place. 

Without this, and in the absence of a comprehensive way of mapping who has what technology in their possession, there is a danger that IT equipment will be left to gather dust or end up in landfill. There is also the fact that leaving IT equipment in the possession of former employees poses an Information Security risk. 

Even when equipment is returned, there's a chance it may be damaged in transit due to poor packaging. 

Equally, if equipment is itemised as part of your insurance package, you may find your business is paying to insure products that are no longer in use or even in your company's possession. 

To support with this process, we at Novatech offer our Managed IT Services (D2D).  This is a  cost effective, flexible and sustainable solution which uses a custom portal & API's specifically for your business  IT asset management  

Reuse as the most cost-effective solution

At Novatech, we have long been proponents of reusing electronic products as it is often the most cost-efficient solution for our clients, as well as the most environmentally friendly. 

Reuse is usually the best course of action when a device is still fit for purpose. It avoids the costly outlay of procuring new equipment while also greatly limiting your organisation's contribution to electronic waste. This means that the product can then be returned for use within the organisation, and IT managers can also avoid sending perfectly usable equipment to landfill. 

What's more, by partnering with the right managed services provider, you could further reduce costs by cutting down on facilities and processes needed for managing and storing those same assets. For example, our very own Managed IT Service, D2D, provides our customers with access to our own 60,000sq. ft. logistics centre, removing any need for onsite asset storage and helping to facilitate the more cost-effective reuse option.  

Another cost-efficient solution that avoids the initial outlay for new equipment is to remanufacture (or refurbish) devices that have broken or worn parts.  

This means that any damaged or worn parts are replaced with new ones, with any software or operating system updates completed before being returned for use within the business. 

While some IT partners might recommend remanufacturing as the first option over reuse, we always recommend that reuse is explored first before refurbishing the device. This process is not only more environmentally friendly (since it avoids buying into the manufacturing process of the new, replacement components) but it is also the most cost-effective way of managing your IT equipment. Reusing a device could save you as much as 90% of the purchase value of a new one.

Effective planning helps keep costs down

Now we have looked at the options available to you in relation to procurement, it is important you also ensure your planning stage is robust. This is where you work out what you really need as a business. 

By ensuring you have a robust planning process before commencing your IT project, you will ensure you are not overspending on assets, and can determine exactly what your requirements and IT specifications are. 

You will need to carefully analyse your business needs in the immediate and long term and evaluate your existing assets. You can then determine whether they are fulfilling the business need before deciding whether existing assets could be reused, remanufactured or need replacing. 

As part of this, you will need to think about the type of asset you require as a business.  

Other things to think about during the planning stage include how much procurement of the asset(s) will cost, how that fits with your budget, ease of installation and deployment, as well as maintenance, operation and repair and disposal costs.  

With a comprehensive and well-considered plan, one which looks at all the available options from procurement of new assets, to reuse or remanufacture, you can ensure better decision-making, reduced costs and more certainty in difficult times. 

To find out more about how we at Novatech can support you with your next IT project, explore our range of services here or call us on 02392 322700.