Managing your small business’s budget often feels like a balancing act. Between salaries, rent, materials, IT, insurance, and everything else, it’s important to look for ways you can economize funds and stay in the black.
However, there are a few areas where you don’t always want the cheapest option, and your IT is one of them. Today’s post will explore the pros and cons of choosing budget IT service providers—and why it’s worth it to invest in higher quality.
Cybersecurity Numbers You Should Know
Cybersecurity and IT services may not seem like the best use of your limited budget, but any investments you make today will be well worth it in the long run. Let’s take a look.
A report from TechTarget outlined some of the most recent cybersecurity stats, and they’re a bit overwhelming, to say the least:
- Nearly half of all SMBs (48%) have been the victim of a cyberattack.
- More than 30,000 new technological vulnerabilities and threats were discovered last year.
- The annual average cost of cybercrime was $8.4 trillion in 2022, and it’s predicted to increase significantly.
In short, you can’t afford not to have a robust cybersecurity system in place.
With more vulnerabilities being discovered every day and cybercrime rapidly rising, a comprehensive IT and security plan can allow your company to thrive—staying out of that 48% and not contributing to that $8.4 trillion. The best way to ensure you’re getting this complete protection is by choosing high quality over low prices when it comes to your IT provider.
Budget IT Service Providers: Pros and Cons
Hiring IT service providers that advertise “budget” services or have notably low prices can present different advantages and disadvantages for your business.
Pros
One of the key advantages of budget IT service providers is their low upfront costs, making them an attractive option for businesses with limited resources. They also offer flexibility and can serve as a practical first step for companies just beginning to implement IT support.
Cons
While the lower upfront costs may make budget IT companies a tempting option, the long-term expenses often counteract these initial savings. Cheaper IT services often indicate less expertise, fewer protection methods, and lower quality in general. This means you’ll be facing more repairs and downtime than usual, the costs of which add up quickly.
You’ll also be more susceptible to cyber risks, leaving your digital assets vulnerable and putting you at risk of paying huge recovery costs. Low-budget IT infrastructures are also generally less scalable, so when your business grows or changes directions, or if you end up switching providers, the transition will be more clunky and expensive.
How to Spot Low Quality
In the end, the biggest concern with budget IT is whether or not you’re sacrificing quality for the cheap rates. Keep an eye out for these red flags—these are tell-tale signs that the lower prices are reflective of lower quality.
Extremely Low Rates
As you shop around for IT service providers, pay attention to typical rates. If your company charges significantly less than normal and their work is correspondingly incomplete or below the standard, you’ve found a budget provider rather than a quality one.
Subpar Communication
Your IT provider should reach out with frequent updates, answer messages and phone calls promptly, and be able to explain their tools and strategies clearly. You, on the other hand, shouldn’t be the only one initiating communication. If communication with your provider feels at all off, keep shopping around.
Limited Expertise
Low-budget IT service providers often lack the resources to hire highly skilled professionals or invest in advanced tools. This limited expertise and resources can result in outdated solutions, lack of personalization, and insufficient support for your business.
Reactive Support
Cybersecurity and IT services should be all about proactivity—preventing attacks and resolving small hiccups before they become big issues. Low-cost providers often take a more reactive approach, simply fixing problems after they occur and you’ve already lost crucial work time or assets.
Lack of Partnership and Teaching
Your relationship with your IT company should feel like a partnership dedicated to keeping your business efficient and safe. Good providers will share their knowledge and expertise with you, offering tips on best practices and teaching your team how they protect your organization. The lack of this kind of communication is a good sign that you should find a new IT service provider.
Invest in Quality and Expertise, Invest in iTology
When you choose iTology, you never have to wonder about quality and customization. All our partnerships start with a risk assessment and getting to know your unique systems so we can provide personalized, innovative services and tools that will empower your business to achieve more than ever before.
As you work with our techs to put your plan into action, you’ll see their expertise, professionalism, and commitment to making sure you always know what’s going on with your tech. So don’t settle for the other IT service providers—schedule your risk assessment, and see the iTology difference.
