What Technology is Worth Your 2022 Budget?

As businesses look ahead to the coming year, they are having to make decisions about where and how to allocate their budgets.

More specifically, they’re thinking about how much they’ll need to spend on tech, and what sorts of IT products and services will be most valuable to their work in the future. 

Your IT budgeting roadmap will largely depend on your company’s unique needs and challenges, but there are some critical tech elements that your business should consider investing in.

Here’s the top tech that’s worth your budget for 2022. 

Artificial Intelligence

Forbes research found that in 2021, 76% of enterprises prioritized AI in their tech budgets. It’s clear that the AI revolution is here to stay and will only continue to expand in the coming years. AI-powered devices and solutions are popping up everywhere, from cars to TVs to smartphones, and so much more. Here are a few AI tools your business may want to budget for in the upcoming year:

• Chatbots: Chatbots are software applications that simulate human conversation and enable users to communicate through an online interface. A major advantage to using chatbots is that they allow your business to connect with customers around the clock. This helps reduce costs associated with having a living specialist on call at all times.
• Robots: Robots are incredibly useful in business processes, particularly manufacturing. They’re able to handle tasks such as sorting and assembling, but they can also be used for jobs that are deemed unsafe or unsuitable for humans.
• Data Forecasting and Management Applications: Businesses can leverage AI technology to help manage their data and make data-driven predictions. This can be especially useful for supply chain purposes. 

Outsourcing Technology

Outsourcing has become an increasingly popular choice for companies looking to offload some of their tasks onto third parties. There are a number of ways your business can benefit from relinquishing control of certain tech-related duties, which is why it’s important to factor outsourcing costs into your IT budget.

• Cost Savings: A primary upside to outsourcing is the potential for your business to save money that it might have otherwise spent on new hires. It’s important to weigh the cost of hiring against the cost of outsourcing to determine which route will ultimately save you the most money in the long run.
• Time Savings: Outsourcing frees up time that you can spend on more pressing matters. Your partner of choice can manage the tasks you assign them, while your business focuses its attention on issues of greater importance.
• Risk Management: It’s never wise to put all your eggs in one basket. Employee turnover has increased in recent years, especially since the start of the pandemic, but by choosing to outsource some of your business processes, you’ll avoid much of the disruption associated with losing internal help. 

IaaS

Infrastructure as a service (IaaS) refers to a system of cloud services that delivers virtualized computing resources online. IaaS is most commonly used for data storage and analytics. Why should your business budget for IaaS expenses? 

• Increased Scalability: With IaaS, your business gets to decide how much or how little it wants to pay for—basically, you only pay for what you need. You may, for example, find that you need a greater amount of storage one month, but feel comfortable in scaling down the next. IaaS offers you that freedom and flexibility.
• Decreased CapEx: IaaS eliminates the need for hardware and other physical equipment, reducing your business’s capital expenditure. 
• Greater Security: Your IaaS provider is responsible for maintaining the security of their cloud services. Your business can rest easy knowing that their valuable data is being handled by a team of experts.

Digital Signage

Digital signage is used to convey information to customers. These signs are typically seen in physical shopping centers, and are powered by LCD and LED displays. They’re a great tool for grabbing eyes, so your business will definitely want to allocate a portion of its budget to digital signage expenses. Here are a few reasons why this technology is growing in popularity:

• Promotion Display: Digital signage makes it easy for your business to inform customers of its sales and promotions. These bright, moving graphics can be used in retail environments, or anywhere else you are looking to advertise. 
• Social Media: Another way you can utilize digital signage is by sharing your company’s social media with the public. If customers look up and see your social media handles flashing across the screen, they’ll be more likely to follow and engage with your accounts.
• Directions: An effective, but sometimes overlooked use for digital signage is the ability to give directions. A screen placed at the entrance of a shopping mall can provide a map to help shoppers navigate the store. 

Teksetra is Here to Help

As technology becomes a more integral part of the workplace, it will be especially important for your business to look for ways to manage and increase its IT budget.

Teksetra is here to help you get started. Get in touch with us today to learn more about our IT services and how we can help you create a custom plan for your tech-related expenses in the coming year.