There’s often a conflict of interest when it comes to IT-related purchases. In the end, it all comes down to who’s making the decision and what he or she values to be the most important. Sometimes this isn’t the best option for the entire company.
IT spending should be left to IT teams. They understand the technology best and know exactly what the business needs to upgrade in. Their decisions should be verified by the accounting team, of course. It’s a system of checks and balances that keeps expenses under control.
In some companies, the Chief Marketing Officer (CMO) is in charge of IT spending. This is presumably because they want to decide which marketing software the company uses. A recent CIO article explains how this scenario can lead to a spending catastrophe:
“When CMOs take control of IT spending, then they may well move fast and break something. With budgetary responsibility comes the responsibility for things like security, scalability and performance. The first time the systems go crashing down because they can’t scale sufficiently, or for whatever reason, the CMO is going to have to go looking for help from the CIO.”
If your business doesn’t have an IT team, don’t just put a random person in charge of IT expenses. Chances are they don’t know the equipment well enough to make a prudent financial decision.
If you need advice or consultation, consider getting in touch with an IT support team. They understand the technology and can tell your business what needs to be upgraded and what you should buy. If you already outsource your IT support, then make sure you contact them before making any major technology purchases. All of this is in the best interest of your business.
If you’d like to talk more about this or anything else, contact us. Thanks.