HP Financial Services

The ability to ‘do more with less’ is an old adage many IT managers are intimately familiar with. With IT budgets expected to increase a mere 1.8 percent in 2013, roughly 50 percent less than they did in 20121, technology managers are under increasing pressures to find alternative ways to manage current business needs while transforming to meet future requirements. As a result, many companies are allocating more of their IT budget to innovative technologies such as cloud that can dynamically drive revenue, increase customer experiences and deliver competitive differentiation while lowering costs.


However with over 85% of companies locked into an annual or bi-annual budget process, being able to flexibly allocate spend in line with business priorities and economic realities continues to be a challenge. According to a recent InformationWeek IT Budget Survey of over 350 CIOs, 50% indicated their company's budget process isn't consistently flexible enough for changing business needs. Additionally, 75% indicated they didn’t have a formal way to address unforeseen expenses2.


With the IT budgeting process prepared so far in advance, change is often inevitable. Additionally, budget allocations required for innovative technologies could span years and have multiple financial requirements that vary depending on current strategic priorities, usage models and economic conditions. With a majority of IT managers working against a fixed annual budget process that requires decisions to be made today for an unknown future, leveraging a solution that promotes financial flexibility within the confines of their IT budget will be essential for success.


With a trusted advisor like HP Financial Services you can effectively obtain the flexibility required to address changing business demands without impacting the IT budget allocations initially established. With various financial and asset management solutions, HP Financial Services can also help ensure you have the capital required to implement innovative technologies essential for driving business value and competitive differentiation. Additionally, by leveraging various leasing solutions, you can achieve the financial predictability essential for accurately forecasting current and future budget requirements.


For customers such as Arrow Electronics, having this flexibility was instrumental to ensuring customer demands could be met with minimal impact to investments required for innovative technology upgrades.


“At Arrow Electronics, we pride ourselves on being able to support the evolving needs of our customers,” said Greg Schumacher, Group Marketing Director “Underpinning that support is a set of technology hardware and software solutions that are continuously being updated.”


For customers like Arrow Electronics, being able to keep up with the changing demands of their IT department and customer needs was critical. With the help of HP Financial Services, they continue to have the financial flexibility needed to meet evolving demands without having to set aside extra capital within their budgeting process for potential unknowns. Having this financial flexibility is critical for IT managers who continue to examine how to liberate budget allocations through improved efficiencies, so that the innovation and core competency investments are maintained3.


By leveraging the array of financial solutions HP Financial Services provides, you can achieve the efficiencies required to ensure core and innovative technology investments can be achieved within existing IT budgets. Eliminate the crystal ball with HP Financial Services who can help provide the budget flexibility you require today and in the future.


Contact HP Financial Services today to get started.


 

1 CEB Press Release: CIOs Project Modest Budget Growth in 2013
2 InformationWeek IT Budget Survey, 2012
3 Gartner Research Press Release: Gartner-Forbes 2012 Board of Directors Survey


Financing available through Hewlett-Packard Financial Services Company or one of its affiliates and is subject to credit approval and execution of standard HP Financial Services documentation. Other restrictions may apply. HP Financial Services reserves the right to change or cancel the information contained herein at any time without notice.


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