Across all industries, organizations are dealing with rising technology costs. The COVID-19 pandemic shifted the technology market into a constant state of low supply and high demand, and 2022 is expected to bring even higher spending on IT materials and operations. If you are looking to upgrade your company’s technology and systems in the new year — without overspending — Layered Solutions can help.
Why is the cost of technology rising?
A slight rise in the cost of technology from year to year is relatively normal as it continues to improve. However, the pandemic threw a pretty major wrench into things with companies closing for quarantine, closing altogether, employees resigning in droves, material shortages and supply chains in chaos.
Add to that the significant increase in demand for technology with more employees working from home than ever before, and it’s no surprise that rising technology costs have grown more in recent months than ever before. According to Monika Sinha, vice president of research at technology consulting company Gartner, “Volatility is something that we clearly saw this year but it’s something that is going to be an ongoing theme. [It] is now a new normal.”
What is the 2022 forecast?
2022 is expected to see company IT budgets increase the most they have in a decade to reflect these rising technology costs. Gartner is projecting that worldwide technology spending will be in excess of $4.5 trillion next year, an increase of 5.5% over spending in 2021. The past couple of years haven’t necessarily seen a huge improvement in the technology itself, but in the willingness of organizations and employees alike to use it in the face of the pandemic. But with a lower supply of everything from gaming systems and smartphones to computers and vehicles due to the “Great Resignation,” supply chain demands and the semiconductor chip shortage, prices will only continue to rise.
How can companies mitigate costs?
One of the best ways for organizations to avoid expensive technology upgrades is to better utilize software-only systems for company communication and integrated solutions. The cost of materials for new hardware and technology may be rising out of reach in many industries, but software is not experiencing the same increase. At Layered Solutions, we can help create the best software to fulfill a number of your organizational needs, be it safety, communication, or customer/patient experience.
How can Layered Solutions help?
As the experts at LSI build out new automated software solutions that do the hard work for you, we also do our best to integrate them into the equipment and systems that already exist on your campus. We can perform an assessment of the hardware you’ve previously invested in, such as intercoms, security cameras, automatic doors and digital signage. We will then manufacture and install the best software solutions to work with these systems — and get everything working together to deploy mass notifications or safety lockdowns with the touch of a single button.
We can even help you better manage your company’s response to the very thing that has changed so much of the technology industry: COVID-19. With a few simple automations, your organization can send out regular health screenings to employees/students/patients or use infrared technology on security cameras to detect body temperature and send alerts where abnormal temperatures are detected.
If you are interested in mitigating the cost of upgrading your company’s technology in the new year, contact Layered Solutions at 317-564-3208 or request a demo today. We’d love to create innovative solutions for you to reach any audience, anywhere, instantly, with the tap of a single button.