Budgeting for technology systems acquisition

It's important that you take into consideration all the costs that may not be obvious at the start. Use this template as a starting point.
Money and receipts

So, you're looking at investing in a new IT system? It could be your server, client management system or finance system. It's important that you take into consideration all the costs that may not be obvious at the start. To help you, we have a template you can use as a starting point for creating a budget.

This IT systems acquisition budget template will help you develop a budget for the complete process of acquiring a new technology-based system.

This template is not a primer for systems acquisition or on budgeting in general. But it will prompt you for the things you need to consider when working out what it will cost to acquire a new technology system. The spreadsheet does not include a section that looks at ongoing costs. When considering the acquisition of software, both implementation and ongoing costs should be considered.

It is really easy to underestimate the effort and costs involved when preparing your budget. The IT systems acquisition budget template has been developed to help you think about all the activities and costs you may need to consider. The template has been designed to provide a clear way of presenting the processes, what needs to be purchased, what support is required and for calculating the costs. What you’ll need to include will vary depending on the nature of the system - for example whether it is for service delivery, financial, email and so on.

When choosing a new IT system, there are three stages which you will need to undertake:

  • Figuring out requirements: listing what you're trying to do and the issues you're trying to solve
  • Selecting the technology you need: finding the right system to match your requirements
  • Implementing the solution you’ve chosen: once you've decided which system you need, it's time to install and set it up

These three phases are echoed in the IT systems acquisition budget template.