In today’s era, there are lots of businesses that are looking for ways to cut their overhead costs. Every business owner can relate to the problem of saving money to boost profit margins, increase liquidity, and remain competitive. At the same time, cutting overhead costs could impact the productivity of employees if they are forced to bring their device to work, and it isn’t compatible with the business’s applications. Even though employees might be familiar with their own devices when they bring them, it is also shifting some of the cost to the employees while heightening security risks. Is the strategy going to be successful? Is this worth it?
A bring-your-own-device strategy, often shortened to BYOD, does provide businesses with savings while also increasing the employee level of comfortability with their device. Even though it is safe to assume that companies will save a lot of money because they do not have to supply those devices, there is also a bit of controversy over whether the reward is worth the risk. Therefore, before deciding whether or not a bring-your-own-device strategy is going to be worth it, it is essential to look at both the risks and rewards before zooming in on any potential cost savings. This will help business owners decide whether or not a bring-your-own-device strategy is right for them.
A Closer Look at the Savings with Bring Your Own Device (BYOD) Strategies
First, it is crucial to break down the expenses that come with a bring-your-own-device strategy. When looking at the expense of it, it can also be a bit challenging to accurately measure just how much purchasing devices are going to cost. First, the costs associated with a BYOD strategy are a bit murky. Every device is different, and businesses spend different amounts of money on various devices. Furthermore, they also vary widely depending on what kind of policies implemented and how it is enforced.
If the strategy is enforced poorly, it could even cost businesses money. According to a study that was released in 2012 by the Aberdeen Group that discovered some companies were spending tens of thousands of extra dollars per year. On the other hand, there are also reports showing a large corporation, such as Intel, saved immense sums of money when they implanted this policy.
In the world of technology, a study that is eight years old might as well be ancient. At the same time, the point still stands. Businesses need to take near about how they are going to implement this strategy. Even though many business owners assume this is going to save them money, this might not be the case. A lot of these added expenses come from additional security risks that have developed over the years. Just as technology has progressed a long way, hackers have worked hard to keep up as well. As a result, cyber-attacks are more sophisticated than ever before.
The Variables With a BYOD Strategy
If you are trying to figure out if a BYOD strategy is going to be right for you and your business, then you need to know about several of the variables below. By considering these variables ahead of time, you will be able to make an accurate decision for your business. This will help you analyze the costs of a BYOD strategy versus the benefits of this move. These variables include:
The Current BYOD Costs
When you’re looking at the expenses of a BYOD strategy, it is essential first to analyze the current costs that your business takes on when it comes to your wireless devices. If you would like to get the most accurate numbers when you are assessing your cost, you will require the help of both your IT Department as well as your accounting department. Concentrate on the various cost that your company usually takes on when it operates and maintains its own devices. This might also include any updates, applications, or extra features the devices encompass. It is always better to overestimate how much your business spends on technology than to underestimate it.
The Security Measures Implemented
One of the most important features that are going to accompany any BYOD policy is security measures. Without taking on the right security measures, this could place our business at risk of suffering a severe security breach. Remember that customers and business partners today depend on everyone to protect their confidential information. A security breach could place this information at risk. One of the most significant issues that come with a BYOD policy is that it usually comes with a much larger number of devices connect him to the business’s network. As a result, it is harder for the company to police who were accessing the network and who is uploading or downloading information. Therefore, when taking a look at the expenses that are going to come with a BYOD policy, it is critical to look at the cost of implementing a robust security solution as well.
The Productivity of the Business
When it comes to a BYOD strategy, it is also essential to look at the productivity of the business. It is important to note that employees are going to fall on both sides of the fence when it comes to a BYOD policy. Some employees are going to be vehement about using their own devices simply because they are more comfortable with them. As a result, some employees may not want to use corporate technology. Many employees believe they are going to be more efficient if they use their own devices. At the same time, some employees do not want to take on the expense of using their own devices. Therefore, it might be a good idea to give employees a choice. The business can still keep a certain number of devices on hand, but employees are allowed to bring their own if they would like. Employees like autonomy. Implementing the policy properly could result in increased employee productivity. That is one of the primary goals of a BYOD strategy.
The Responsiveness of the Team
Finally, when implementing a BYOD strategy, it is important to remember that the strategy is going to come in many shapes and forms. For example, some businesses might encourage their employees to bring their own laptops for work but might also provide employees with a mobile device that is strictly for work. This can help employees remain as productive as possible because they will always have a device on them that they can use to respond to emails. Some employees might be more apt to engage in workplace activities at home if they are provided with a mobile device. Some businesses that might see revenue increase as a result of this responsiveness, this is an important factor to consider. Remember that if you use a bring your own device strategy, this is going to impact not only the productivity but also the flexibility of the business as well. If appropriately implemented, this strategy can improve both areas.
These are a few of the most important factors to consider when businesses are looking to implement a bring-your-own-device strategy. In an era where many employees are working from home, this could provide a significant benefit to them. At the same time, this does come with additional security risks. These must be considered as well.
Think Carefully About a BYOD Strategy: Contact the Professionals
These are just a few of the most important points that you need to keep in mind if you are thinking about implementing a BYOD strategy for your business. Even though you might assume that asking employees to bring their own devices going to reduce your overhead expenses because you no longer have to supply the devices yourself, there is also the possibility that the added security risks that are going to stem from this policy could end up costing you money. For this reason, you need to rely on the experts if you would like to implement a strategy like this. It would be best if you counted on the information technology field’s professionals to guide you as you make the right decision for your business. When you have all of the information presented to you in a way that you can easily understand, this places you and your business in a position to be successful.