After seeing other companies implement technology projects that have revolutionized business, leaders may realize that incorporating tech into operations has great potential to become profitable. One study that reviewed years of data from more than 400 global companies found that IT investments that enable sales are more likely to increase business profitability than those that help reduce business costs.
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You have an IT project that you would like to get started or a new technology that you want to implement. You know it will have a positive impact on the business, and you know this is the sort of technology or project that your organization needs to stay competitive in an increasingly digital world.
However, your pitch for the initiative fails, and you don't get budget approval.
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Spending on technology can either be a sound investment or a costly expense for SMBs. So, what are the issues to take into account to determine whether an IT expense is an investment or a cost for your company?
Take a look at some of the questions we believe you should ask yourself before taking the plunge on a new service, tool, or solution for your Connecticut SMB.
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