How to Get the Most Bang for your Buck with Business Technology Purchases

March 14, 2023

Top tips to simplify your IT purchasing today

Do you know what you or your clients are spending on technology? Likely more than you think.  Each year, organizations replace one out of every four computers that they own.  And, they replace their servers and entire infrastructure behind it every five years. With peripherals like monitors, docking stations and cables, the list can go on and on. And it’s all because in today’s tech-driven business world, technology is essential for success. But it comes at a cost—literally.

man in suit hold transparent security strategiesEven the most basic technology purchases can add up quickly, and if you’re not careful, you could end up overspending on your tech needs. It’s no surprise that when you are in the market for IT hardware, you want to find the lowest cost possible. You talk to multiple vendors. You scour the web for the best price. You talk to your friends and co-workers in hopes of finding an industry insider that can provide the best deals. Everyone does this. But, do you ever notice any costs above and beyond your initial purchase?

Total Cost of Ownership (TCO) seems like another buzzword today in the technology industry – but it’s an important one. According to Gartner research, 80% of your total IT costs occur after your initial purchase1. The obvious costs are the accessories or replacement parts that come after the initial purchase, such as adapters or additional/replacement hard drives. However, the bulk of these costs come from other maintenance as well as time spent troubleshooting IT issues. Studies show that employees spend 30 minutes per week trying to fix PC problems or helping a co-worker do the same. The larger an organization, the more these expenses can grow at an exponential level – especially when a decision is made to purchase the wrong solution.

So, how does one mitigate their IT spend? While costs are inevitable, here are some top tips that consumers should consider to minimize their TCO.

  • Buy smart. This is where it all starts. While price is always important, it shouldn’t be the only factor in your purchasing decision (remember the 80% rule mentioned earlier.) Researching on your own today is simple, but you should always consider the perspective of an outside sales consultant (or several) before you make your final decision.
  • Have your network (and assets connected to it) managed. This means having your devices monitored, updated and protected by a professional managed IT services company. The average cost of unmanaged PCs is $5,000 per year2. Even before factoring in your time lost, this pays for itself. In addition, having an unmanaged device makes you a sitting duck for cybercriminals.
  • In today’s world, technology from any major brand is generally equally reliable. So the trend from many smart buyers today is to focus less on “best of breed” in every single technology category, and more on streamlining purchases across a smaller list of manufacturers.
  • Train your employees. Regular training enhances proper usage of your assets and minimizes the risk of cyberattacks such as ransomware.
  • Look into leasing. Leasing options can also be a cost-effective solution and often include maintenance and upgrades which may save costs in the long run.

Ultimately, technology is an essential part of running any successful business—but it doesn’t have to break the bank! With these tips in mind, you can get maximum value out of every tech purchase while minimizing unnecessary costs along the way. And within Konica Minolta there are IT professionals available to make the best recommendations for any need. Their goal is to be your trusted partner – providing a true “concierge” service that allows you to obtain the right products quickly and efficiently.

Additionally, our experts can be there to help you manage and protect your assets – regardless of where you get them. Working with a professional IT management organization can help ensure you are focused on supporting the mission of your organization – not just IT.

1-2Network Alliance

Adam Goebel
Director of Technology Partner Management

Adam Goebel is the Director of Technology Partner Management within All Covered, the IT Services division of Konica Minolta. Adam currently has over 12 years of experience in sales and building strategic partnerships in the technology space, and has consulted with hundreds of organizations of all sizes on their IT needs to maximize their budget allocation. Throughout his tenure, Adam has successfully built strong relationships with clients as well as Konica Minolta’s strategic partnerships, which has contributed to impressive growth. Adam currently resides in St Louis, MO.