How an IT Audit Can Save Your Business Money
There are many different reasons to perform an IT audit, including problems with wireless networking within the office, risk of cyber intrusion, or a company acquisition. The audit helps you to determine the age of the IT hardware being used, if the software is up to date, and whether the system is complying with storage and licensing requirements.
When you manage a business, auditing finances helps you find holes where your company is losing money or problem areas which are costing too much. An IT audit helps you find software which has expired licensure, servers which require upgrading, hardware which is outdated, and security flaws that need fixing.
If your finances were failing, you’d call an accountant to sort through receipts and ledgers, diagnose the problem, and fix it. When technology is the problem, it’s time to call an IT management company like FX Technology for small business IT support. Still not sure an IT audit is the answer? Learn more about the money saving benefits of these services below:
Cut Costs with IT Audit for an Acquisition
When acquiring a new company, an IT audit helps you identify issues within the network which will cost you money later. You don’t want to buy a company with failing computer equipment or software, which will cost additional thousands down the road. Instead, you can use the information gathered from the audit as a bargaining chip to lay at the feet of the current business owner.
Having a professional IT management company provide a detailed report on the status of the network and equipment proves that the business is worth less than the asking price. IT Audits are often required by large businesses before a merger or acquisition takes place, but it’s quickly becoming a practice for small businesses as well.
Save Money with Better Security
If you ran a jewelry store, you wouldn’t skimp on physical security fixtures, such as an alarm system or locks on the doors. So, why leave yourself unprotected when it comes to digital and intellectual property owned by your company? An IT audit helps identify areas of risk in terms of poorly managed security services and helps you close the gaps in digital barriers so that information isn’t stolen or damaged by a virus. Losing information is costly both in terms of paying to close security gaps in the future and in penalties paid for private information breaches.
Avoiding Fines and Penalties
As mentioned above, penalties for breaching private client information will cost your business money, but they aren’t the only type of fine you need to worry about. When licenses expire on software, you don’t want to be caught using programs you no longer have permission to use. In most cases, an expired license will only result in the program no longer being accessible to you. However, some programs don’t close off access so quickly, leaving you open to mistakenly continuing inappropriate use. An IT audit will find these expired licenses or licenses which are soon to expire so that they can be reassessed and either eliminated or renewed.