We've all seen IT budgets go downhill. But hopefully, your spending hasn’t tanked as badly as Justice League’s theatrical release.
The 2017 superhero flick became a cautionary tale. Soaring costs, last-minute changes, and failed delivery products cost Warner Bros. millions. It reminds us that even significant investments can fail without a clear plan.
IT budgeting is no different.
Rising hardware costs, surprise maintenance bills, and insane shipping costs make it challenging to get it right.
This guide will break down IT equipment costs and share actionable tips to help you budget smarter. Let’s get started!
TL;DR
IT equipment costs can influence a business's profitability. Hence, organizations must know and adequately budget for the average price of all IT equipment.
Every category of IT equipment has a price tag synonymous with its quality and performance. High-performance models always cost more than basic models.
Hidden IT costs can become unexpected, painful if they are not included in the budget.
The average cost of IT equipment is influenced by location, bulk or individual procurement, infrastructure, and vendors.
Benchmarking costs across industries helps organizations to measure their progress against other businesses.
To maintain operational efficiency via cost optimization, organizations buy in bulk, negotiate with vendors, leverage IT asset management tools, use PCaaS and DaaS models, and buy refurbished equipment.
IT costs are poised to rise due to supply chain disruptions, sustainability-influenced pricing, and the growing popularity of hardware subscription services.