Effective budget allocation is one of the most important issues in the company. Depending on how funds are allocated, the company may gain or suffer losses.
A correctly chosen strategy determines the successful development of an organization. Using forecasting, modeling and determining the most profitable areas of activity, he distributes funds.
TWO MAIN WAYS TO FORM AN IT BUDGET
1. IT budget is formed as a percentage of revenue or based on the cost per employee. As a rule, in this case, the IT budget is 2-4% of the company's income.
2. The budget is formed according to the RGT (Run, Grow, Transform) model, in which the formation of the mango tech budget depends on what stage the business is in: launch, development or transformation.
According to research by Gartner, 70% of companies' profits come from innovative projects. However, companies invest ONLY 17% of budget funds in innovations. While 66% of the IT budget is allocated for the launch of new projects, the remaining part of 17% of the budget is spent on maintaining current and introducing new projects.
What needs to be done to improve the process?
1. Optimization of the team interaction system
2. Optimization of the project infrastructure
3. Implementation of a management system based on key performance indicators
4. Restructuring, Optimization and Extension of the Test Model
5. Optimization of the working environment and training of new employees
As a real example, where this approach was applied, we can cite a project carried out for Akronis .
As a result of the applied income, the company achieved the following results:
Optimization of the interaction of testers in the project team:
• The time spent on starting iterations decreased by 86%: from 1 week to 1 day
• Average iteration duration decreased by 33%, from 30 to 20 days
• Team work is 91% optimized
• Constant release of assemblies
• 100% transparent communication and proven reporting model reduced defect handling times
Optimization of the project infrastructure
• The use of the infrastructure of dedicated servers allowed the project to be completed in accordance with the time frame
• The development of a set of templates for virtual machines made it possible to reduce the time for setting up a test environment by 50%
• Automated provisioning of a complex and large-scale test environment allowed 95% better uptime compared to manual provisioning
• Simultaneous launch of several virtual environments allowed 20% of testing tasks to be performed in the background
Management based on key performance indicators
• Time to develop new iterations decreased by 70%
• The initial estimate of the cost of services rendered changed by only 5%
results
the following indicators were achieved:
• Product launch on the market ahead of schedule
• High product performance
• Reduced testing costs
• Optimized costs for innovative projects
• Improved development cycle
Conclusion
Various companies are forced to constantly address the issue of allocating funds in the IT budget. Investing in innovative projects is critical to a company's growth and competitiveness, as 70% of a company's revenue comes from this activity.
One of the ways to increase the share of investments in innovative projects is to optimize the approach to software quality control. By applying this approach, you can free up 10% of the IT budget and at the same time increase the company's revenue by 47%.
This is mainly as a result of the lack of jobs that plague many Nigerians including university graduates.
This is a large percentage as compared to the results of other West African countries whose median for those willing to start a business was 44 percent.
This trend has not gone unnoticed and the former Nigerian president, Olusegun Obasanjo even mandated that entrepreneurial skills be taught to all university students irrespective of their major.All this is in line with the Nigerian Economic Policy for 1999-2003 whose purpose is to promote education through the use of technology.
The Nigerian president also has big plans for the country one of them being to see Nigeria as one of the top 20 economies of the world by the year 2020.
Nigeria has been previously known as one of the most corrupt countries in the world and this discouraged free enterprise.
Nigeria has also been largely dependent on the income from oil that other economic sectors have been grossly underdeveloped.
Redesign a thing can be a hectic and need to be careful with it because it there is a little mistake happen, you’ll lose everything that you earn till now.
Therefore a redesign can be an immense success or can be a complete failure.
It depends on how you make a strategy and the methods and procedures you execute.
For redesigning, you must have a crystal clear vision and a strategy.
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Sales organizations like The Global Associates are often forced to adopt new marketing strategies in order to Generate Business Leads on a regular basis, however, the marketing goals have more or less remained the same: more leads and better conversion ratios.
The fast changing business scenario over the past two decades has ensured that one cannot stick with old, time-tested tools forever, one must devise new and more effective strategies to successfully generate business leads and stay on top of the ladder.
Even though some of the older tools can still be made effective with some adjustments and innovations, the changing demographics of today’s customers and recent technical advancements make it necessary for sales people to change the way they interact with the buyers.
It’s very important, therefore, to focus on a personalized approach, especially in areas like email marketing and content writing.
Creating personalized content will help you connect well with the customer and retain them for a longer time.
Blogging has become an effective tool for generating quality opportunities; strive to create content to help readers solve their problems, peak interests and entice sales.
