Fiscal Decision Time

by Ronald Nunan on November 2, 2011

When is a Good Time to Buy for Business?

Businesses are starting to plan now for the new fiscal year and identify opportunities and tools for facilitating growth. What will 2012 bring? Is the right staffing in place? What is our forecasted growth and are we prepared to handle it? These are just a few of the questions business decision makers will reflect on in the coming months.

As part of an organization’s annual planning process, it’s important to look at the implications for business growth, which impacts staffing, as well as a company’s infrastructure and other IT needs. And for legacy applications, these areas can be especially impactful — both positively when done well and negatively when not.

The budget planning process for each new fiscal year is a good time to consider purchasing new solutions that will help address new business needs or growth, whether you’re looking at legacy modernization, a software upgrade or Windows migration. It’s a good time to evaluate where your business stands and what is needed to achieve your objectives for the upcoming year.

Investing in a product that is necessary to help your business function at a high capacity might become necessary at any point within the year. However, it makes sense to evaluate the options at the beginning of a new year as you evaluate your annual goals, or toward the end of the year when you might have extra budget to spend.

 

When do you start your fiscal year planning? How often do you evaluate growth needs in IT?

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