Financing the hybrid workplace of tomorrow

This is the finale in our four-part series, in which we explore the complexity of hybrid working. In this piece, we’ll explore how you can finance your future workplace – whether it’s hybrid or not.

In essence, the hybrid working model offers an unprecedented ability to connect, collaborate and work from anywhere. Enterprise-level connectivity and equipment implemented at home. New workspaces, automated systems, and cognizant buildings at the office. With so many incredible features and possibilities, it is undoubtedly something to look forward to.

Yet, within this excitement is also a mix of apprehension. Fundamental to this new model of working is fast, reliable wireless connectivity and a unified, automated and secure network – something that for most businesses will mean dramatically increasing investment in their IT infrastructure.

Such apprehension, given the current economic circumstances and ongoing unpredictability, is understandable. So is the feeling from many organizations that they will struggle to finance these investments. Or that they are simply not in a position to consider any upgrades beyond what’s immediately necessary for the return to the office.

There is good news. With a few smart decisions and strategic moves, businesses can leverage current budgets and resources to create a network that doesn’t just deliver for the immediate future, but also provides long term value. Here’s what you need to think about to put these moves into motion.

1. Data should be your top priority

The data that is currently at the fingertips of many enterprises has huge potential to deliver significant savings. However, it must first be turned into actionable insights. This is why businesses need to prioritize investing in networks, thereby improving their ability to analyze the data at their disposal.

To fully do this though, means investing in Edge technologies. There are two reasons for this, firstly: organizations are dealing with ever-increasing amounts of data and secondly: this data is being generated outside of traditional data centers. Instead, it is now being created by user devices and IoT at the Edge of the network – the place people, devices, and things connect to the digital world. Processing data at the Edge provides several benefits – from reducing latency to minimizing transmission costs and unleashing its full potential for optimization and innovation. Being able to leverage data in real-time will allow businesses to take actions that deliver long-lasting benefits, such as improved operational efficiency and costs, opportunities for greater profitability, and new revenue streams.

2. Explore flexible consumption models and as-a-service options

While change might be more pervasive than ever, we find ourselves in a time when resources and budgets are tight. As such, businesses must look at whether to choose solutions such as simple pay-as-you-go subscriptions or financial and consumption flexibility across hardware, software, and management operations.

Such solutions, which turn infrastructure expenses from CapEx investments into OpEx costs, represent benefits for both cost-efficiency and business agility. These ensure that payments can be aligned to budgets, revenue, and cash flow – making them suitable for the financial situation at any given moment. They also provide the freedom to test, adapt, build, and possibly rebuild without the fear of exhausting already strained budgets, as you’ll only ever pay for what you’re currently using.

Essentially, they provide the foundations of a bespoke, flexible, and scalable network that can adapt rapidly to changing needs and circumstances.

3. Adopting more sustainable practices for added benefit

At the risk of sounding like a tick box exercise – the adoption of sustainable practices and the leveraging of existing equipment and systems has the added benefit of organizations maximizing their budgets while simultaneously meeting their sustainability goals. Something we all recognize as being increasingly important.

Just how will you go about achieving this? Look no further than the circular economy, through which organizations can optimize and repurpose IT assets like network equipment, PCs, laptops, servers and storage devices. For those perhaps unaware, this is the aim to extend the utility and value of resources and eliminate waste.

Alternatively, organizations can convert these assets into capital that funds innovation and transformation initiatives. By remarketing and reselling any unneeded equipment, businesses can see the return of significant amounts of money to their IT budgets. Alongside these, they should also avoid buying any new hardware unless it is absolutely necessary. Now when it comes to expanding infrastructure and/or making new investments, it might be prudent for businesses to adapt pre-owned equipment or choose functionally equivalent used hardware – both of which can have dramatic cost savings.

Additionally, the likelihood of further savings down the road can be increased by strategically choosing technology that is designed for energy efficiency, easy recycling and the removal of heavy metals for reuse.

Embracing the future with open arms

A network that can support both the hybrid workplace and business agility is becoming highly sought after.

We have now seen that a hybrid workplace model is the answer to many of the changes in how we communicate, live and work – changes that the COVID-19 pandemic has acted as a catalyst for. For IT teams working within this model, their mission is critical as they act as the defense for organizations that cannot afford the consequences of a poor performing network.

Without these investments, organizations risk being vulnerable to security threats, limited productivity, frustrating clients, and employees, and losing their competitive advantage. It is these issues that at scale and over time, pose a severe threat to business continuity.

Thank you for reading the final piece in our four-part series. I hope that the strategies discussed above and in our other articles will help you make the decisions you need to in a way that best suits your organization's budget and resources.

More importantly, I also hope that they will help you see beyond the challenges and stay enthusiastic about hybrid workplaces. We may be entering a brand-new daunting era of work, but I for one cannot wait to see where we go.

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