IT Overinvesting – Is it Better to be Safe than Sorry?

While I haven’t read the book, an article on Reuters suggests that the book Aligning Technology with Strategy by Harvard Business Review advises companies evaluate their IT costs to prevent overinvesting. Specifically, companies should:

“Spend less. Evaluate expected returns from IT investments. What’s essential spending versus discretionary or unnecessary? Then eliminate waste, such as frequent upgrades.”

While I understand budget is a big business concern, we live in a time where hacking groups are on the rise, gaining in momentum, and compromising networks all over the globe. The thought of boardroom executives looking over numbers, determining what’s essential versus non-essential, frightens me a little. It really is so much more than a bottom line.

One reviewer of the book on also mentioned that the book is comprised of a collection of IT articles published in the last decade. An article written in 2003 regarding security and technology is not going to be relevant in 2011. That would almost be like writing a book on fashion, but repurposing tips and fads that were hot in the ’80s.

It’s technology. It’s constantly evolving and there are those individuals that are also constantly evolving their skills to circumvent new security improvements and systems. As consumers, we trust that when we provide a company with our personal or financial information that it will be secure. With many companies reporting some of the highest profits in years, I, for one, am really OK with some over spending if it means staying one step ahead.

With the increased media awareness over recent hacking activity, do you feel the security of your information is at an increased risk? Have you taken any steps, such as making sure not to reuse the same password, in trying to keep your information more secure in the virtual world?

Hilary Brooks

Hilary Brooks is President, CEO of A Virtual Edge, a full-service virtual assistant company, and Owner of freelance web design company Small Biz Web Whiz. Hilary and her team offer a wide variety of services to busy entrepreneurs, speakers, coaches, and bloggers, providing the office and creative support they need to succeed without all the hassles of hiring a traditional employee.

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