The end of the financial year (EOFY) isn’t just about balancing the books; it’s also the perfect time to assess and improve your IT setup. With remote and hybrid work becoming the norm, businesses need to ensure their IT infrastructure is secure, efficient, and ready for future growth. Plus, making strategic IT upgrades now could unlock valuable tax benefits.
So, is your IT setup working for you, or is it holding you back? Let’s walk through a simple checklist to help you optimise your remote or hybrid IT working environment before EOFY.
1. Review Your IT Infrastructure
Start by taking stock of your current setup and ask yourself the following:
- Are your devices, software, and systems supporting productivity or slowing your team down? If you or your team face daily IT issues, such as slow connections or frequent crashes, these inefficiencies may be costing your business valuable time and frustration.
- Is any of your hardware outdated and in need of an upgrade? Technology evolves rapidly, and outdated hardware can hold your business back. If you’re still using older systems like Windows 10, be aware that Microsoft will end support in October 2025. Learn more in our blog, Are You Windows 11 Ready? Time to Upgrade and Future-Proof Your Business.
- Can your IT setup scale as your business grows, or are you facing limitations? Your IT infrastructure may work for your business now, but will it support your growth goals? Planning ahead and investing in scalable hardware and software will save time and stress in the long run.
An IT audit will help you identify gaps and opportunities for improvement, ensuring your technology is working as hard as you are.
2. Strengthen Cybersecurity Measures
Remote and hybrid work comes with unique security risks, making it vital to keep your security systems up to date and your team trained. Strengthen your cybersecurity by:
- Reviewing access controls | Who has access to sensitive data, and should they? Restrict access to only those who need it to enhance security.
- Ensuring Multi-Factor Authentication (MFA) is enabled | MFA may add a few extra seconds to logins, but it significantly reduces the risk of cyberattacks.
- Conducting a cybersecurity risk assessment | Identify vulnerabilities and ensure your security measures align with the Australian Signals Directorate (ASD) Essential Eight Maturity Model. Implementing the right cybersecurity measures can also help meet cyber insurance requirements.
3. Optimise Cloud Storage & Collaboration Tools
Seamless collaboration is key to remote work success. Assess whether your cloud storage and communication tools are delivering real value:
- Are platforms like OneDrive, SharePoint, or Google Drive meeting your team’s needs? Secure, real-time access to files is essential for remote work.
- Do employees have access to the right tools (Microsoft Teams, Slack, Zoom, etc.)? Effective communication is crucial, outdated or underutilised tools can hinder productivity.
- Are you paying for unused software licenses? Many businesses accumulate unused subscriptions over time. An IT review can help streamline your tools and reduce unnecessary costs.
4. Take Advantage of EOFY IT Tax Deductions
Did you know that IT investments could provide tax benefits? Now is the perfect time to:
- Check which IT expenses may be tax-deductible | Expenses on new hardware, software, and security tools may be eligible for tax deductions. Consult with your accountant to maximise potential savings.
- Explore whether your business qualifies for the Instant Asset Write-Off Scheme | The Instant Asset Write-Off allows eligible businesses to immediately deduct the cost of assets, including IT equipment, rather than depreciating them over time. Eligibility criteria and thresholds may vary, so it’s best to check the latest ATO guidelines.
- Speak with your accountant to maximise savings on IT upgrades | A professional can help you identify the most cost-effective upgrades while ensuring compliance with tax regulations.
5. Plan for the Future
EOFY isn’t just about reviewing the past; it’s about setting your business up for future success. Now is the time to take a proactive approach by identifying ongoing IT pain points, setting clear goals, and ensuring your IT budget aligns with your business strategy.
Consider whether a managed IT support plan could help improve efficiency, reduce downtime, and provide ongoing security. Investing in a well-planned IT strategy now will ensure smoother operations and greater resilience for the year ahead.
Get EOFY-Ready with IQPC
EOFY is the ideal time to get your IT in check. Whether you need a security audit, cloud optimisation, or an IT health check, our team at IQPC is here to help.
Let us ensure your IT setup is working for you, so you can focus on growing your business. Get in touch to discuss how we can support your EOFY IT strategy.
