IT budgeting is going to look a little different in 2022. From an increase in ransomware attacks to the growing hybrid workforce, organizations need to allot more room in their budget for expenses related to cybersecurity, cloud and more.

Here are 3 things every business needs in their tech budget for the upcoming year:

#1: Security & Technology Training for Your Staff

Since many companies still haven’t implemented security measures for their remote workforce, hackers are targeting these vulnerable organizations and exploiting their weaknesses. To help mitigate risk, it’s important for employers to provide their staff with ongoing cybersecurity education so that they can effectively identify cyber threats. Training should cover topics like phishing emails, adware, password best practices and the Internet of Things (IOT).

In addition to security courses, businesses should further educate their employees on applications they use on a daily basis like the Microsoft Office Suite, Microsoft Teams and Microsoft SharePoint. There are so many features, shortcuts and best practices that will increase productivity and enhance collaboration.

#2: Communication and Collaboration Tools

Now is not the time to skimp on cloud-based communication software. As more employees work on-the-go or from the house, they need an easy-to-use platform for communicating and collaborating as a team. Instead of piecemealing together various applications to “make it work”, employers should opt for an all-in-one solution that can be used across multiple devices. While it may come with a higher price tag, both the amount of productivity and strong company culture will make up for it.

#3: Cyber Liability Insurance

In this day and age, it’s no longer “if” you get hacked but “when.” Just like organizations have business liability insurance to protect against the unknown, there’s now such a thing as cyber liability insurance. A few years ago it may have been just an added layer of protection, but today, it’s a necessary investment.

However, people have the misconception that they just need to purchase the insurance and they’re good to go. Not quite… It’s very similar to compliance requirements like HIPAA where organizations must prove the measures they’ve taken to protect against threats in order to get a payout. This management component of cyber insurance is often overlooked and must be included when budgeting.

If you have questions on developing an IT budget, please contact us today.

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