Why spending could be the key to weathering the recession

For many, as soon as they hear the words recession, their initial reaction is to batten down the financial hatches and cease spending. But – despite feeling like this is the only way to get through the coming months a number of industries are keen to point out that this could in fact be a false economy.

One of these is IT Support industry, after all, if your IT support is working well you may underestimate that this is down to their great management of your systems rather than proof that you won’t need them!

Billy Brundle, Director at Ipswich based Two Point Zero explains “As business owners ourselves we know how daunting the talk of recession is. We also know the natural reaction is to consider where to best cut costs and streamline budgets to navigate the coming months”.

“But we also know that your business tech can be a valuable tool in the mission to adapt, not just your business, but your balance sheets too over the coming months”

So how do you keep control of your finances whilst also maintaining well-run and reliable business systems? Billy shares his top tips:

Outsource your IT

Outsourcing your IT support can help you manage budgets at the best of times and during a downturn it can be another way of keeping your business going without committing to additional staff costs and overheads; especially as the flexibility of outsourcing your IT support allows for both business increase and decrease.

Use tech to make your business work smarter.

Many businesses will find that they have to freeze their hiring but, instead of reducing services and staff, you can maximise and support your business’s internal structure by using technology to make your business work smarter.

Invest in systems that streamline customer focus processes, such as online chatbots, call management systems, and remote customer service; and make sure that your e-commerce applications and logistics plans are robust and reliable.

‘Disruption proof’ your business

Even when the economy is buoyant efficient business systems can help reduce costs and improve productivity.

So if you haven’t already moved over to the cloud for storage or reviewed your security processes and protection for a while then now is a perfect time.

1. Cloud systems provide stability and reliability – reduced downtime and more cohesive working, especially important with hybrid teams
2. System integration – make sure that software is working to its capacity by integrating and streamlining systems and processes.

Make smart investments

It can feel like saving money is the best way to navigate the current situation, but choosing not to upgrade hardware or maintain software licenses could prove to be a false economy. If you know that your laptop is on its knees or your team is struggling to connect remotely don’t wait until everything fails before acting. Not only are prices rising worldwide but keeping your operation running as efficiently and smoothly as possible will be an important part of business survival in the coming months.

If you would like to talk to Two Point Zero about preparing your business IT provision for the coming months contact Billy: [email protected]