Why You Should Assess Your Business Technology Before the End of the Financial Year

By New Era Technology - 3 May, 2023
4 Minutes Read

With the Financial Year ending, how would you answer the following questions?

How have you planned for your operations and strategies in the coming year?


What measures have you taken to improve your business technology to ensure that it is risk-proof and sustainable?   

Cybersecurity has taken precedence over everything else as it has become more intricate and widespread with the rise of cyber threats. No matter what size or industry your business is in, always ensure that your IT infrastructure is secure to avoid data loss and breaches. You may opt to partner with cybersecurity experts to strengthen your defense.

Here are New Era’s top trends and recommendations to strengthen your IT infrastructure in the next fiscal year. If you were able to provide answers confidently without hesitations, then great! Well done for strategising to position your business for success in the upcoming year. If not, then this one is for you. 

With the rapid pace of technological advancements today, it is only imperative to assess and optimise IT infrastructure regularly to keep up with business requirements and make it sustainable and scalable. 

In this digital world, we cannot afford to be complacent.  

Neglecting your IT infrastructure can have grave consequences such as falling victim to data breaches, data leakages, and other cyber threats – check our blog on the Five Cyber Attack Trends For 2023. When this happens, not only does your company face the consequences of a damaged brand reputation and potential financial losses from lawsuits, but also, your entire operations may have to be shut down for investigations and recovery measures. This translates to a huge cost of enterprise downtime and eventually, revenue loss.

On a lighter but equally important note, inadequate IT infrastructure may cause poor management practices and inefficient operations. So, your company ends up wasting both time and resources.  

The repercussions stemming from these issues can be enormous, and avoiding such high-risk scenarios should be a top priority for any business. 

You can prevent these costly mistakes

To kick off the year, have your business technology assessed now! This entails examining your software, infrastructure, data storage and backup techniques, and cybersecurity measures so you can pinpoint areas that require attention and determine a viable strategy to streamline your technology for the next year.

Here are New Era’s top trends and recommendations to strengthen your IT infrastructure in the next fiscal year: 

1. Examine your IT infrastructure. 

To determine your IT needs, start with a comprehensive assessment of your infrastructure. This should encompass every aspect of your hardware and software, as well as your backup and data storage options. 

2. Make cybersecurity a top priority. 

The Essential 8 framework is aligned with the Australian Government’s Information Security Manual (ISM). By implementing the Essential 8 strategies, organisations can demonstrate compliance with the ISM.


3. Invest in cloud-based services as remote work is here to stay

Cloud-based services have become increasingly popular due to their ability to adapt, scale, and be cost-effective. With the rise of remote work, it is a sign of the times, cloud-based solutions and digital collaboration tools have become a necessity in doing business. You may find our blog on Five Reasons Virtual & Hybrid Collaboration Improves Productivity relevant to this. 

4. Use automation. 

Automation is here for obvious reasons. Why waste time and resources on doing repetitive tasks when you can automate and streamline operations? Doing so enhances productivity and efficiency across various departments of an organisation, ranging from financial operations to customer service. Plus, with automation, each department can focus more on developing strategies to achieve shared goals within the organisation. So, try exploring the use of automation and applying those that can positively impact your daily operations.  

5.  Collaborate with a reputable IT company 

The true advantage of partnering with a reliable IT solutions provider is that you get to focus on the core of your business without overlooking the crucial aspects that sustain it. You can put your trust in New Era in securing your company’s access to the latest technological advancements and providing you with top-tier IT solutions and services guaranteed to help you achieve your desired business outcomes.

The End of the Financial Year is just around the corner, so take the necessary steps to position your business ahead of the competition. 

To learn more about our IT services and solutions, visit our website at www.neweratech.com/au/ or contact us today. 


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Author: New Era Technology