Budgets are a hot topic for businesses – now more than ever. An incoming partner revamping your space needs to know how to deliver “bang for your buck” and how to wisely maximize your budget. This blog will explore a philosophy your AV provider should have regarding your finances and how you can ensure that they make the most of their assigned budget.
Philosophy of Budgets
The main indicator that any vendor you are looking to work with will spend your budget well is the driving motivations behind the team working on your project. Are they looking to simply get the job done, a one-time transaction and move on to the next, or are they looking to build a relationship with you long-term? Vendors simply looking for a job will not steward your organization’s finances as well as a firm that is truly invested in your success and is open to a long-term relationship with your organization.
A way to know right off the bat whether your AV vendor views your project as simply a task to be done or as a starting point to build a relationship is to explore their post-project support options. Will the AV team be available to help if an issue arises after installation? Will support still be available if your team has issues with a specific product after the warranty has expired? Does support come with added costs? Answering these questions in the evaluation phase will be key to discerning the driving force behind your potential AV partner’s work.
Stretch it Out
A concern many organizations have, is how an AV provider can spend a limited or tightly managed budget. An issue that determines the success of a budget usage of this size isn’t just money but also time. After all, time is money.
Something that has held many projects up in the last few years is the phrase “supply chain issues.” A skilled and experienced AV provider should be able to project manage your needs well enough to ensure that supply chain issues that have existed for two years already are accounted for upfront. This is only one example of the importance of project timing, and an experienced AV partner will guide your team in the proper direction during the planning phase to maximize your build-out time.
“Breaking the Bank”
Another indicator that the money you’ve allocated for a project will be spent well by a partner is identifying what they’re spending money on. While this may seem obvious, there are a lot of nuances here. Many providers may simply run with a budget they’ve been given and buy the “best” products that the budget can buy. This may create an unforeseen problem where all of the budget is used on “hard costs” and there is nothing left over for contingency. Another key factor for evaluating an AV team is that they have the knowledge of what not to buy. While having the latest and greatest technology is ideal, it’s more valuable for an AV partner to actually deliver on your company’s desired experience or end-goal.
An AV provider that is responsible for your finances will look to see what products you need in the space first before exploring the costs of those products. By following the cardinal rule of planning first, an AV provider who follows a good financial philosophy will be able to spend your budget wisely. By focusing on the planning phase first, a good AV team will also be able to look past your initial build and put processes in place that make sense for the longevity of the products and equipment that are in the new space.
Does this sound too overwhelming or like too many moving pieces? Reach out to our team of experienced AV professionals today. We Got You.
