
Many businesses take an incremental approach to implementing technology not because they’re highly risk-averse, but because they have to carefully shepherd limited budgets. Leaders may even table discussions about pursuing wide-reaching tech initiatives, assuming that impactful IT investments inevitably come with high price tags.
From process documentation to AI-powered automation, there are plenty of highly effective technology initiatives companies can roll out without breaking the bank. Here, members of Forbes Technology Council detail low-budget IT projects that can have a significant positive effect on your business operations.
1. Consolidate Tech Tools
Evaluate and streamline the tools used across the enterprise, looking especially carefully for duplicated services. Often, you’ll find teams using different technologies to solve the same problem without knowing it. Reduce the costs, noise and security risks that come with redundant tooling. - Cynthia Damian, Valon
2. Give Tech Team Members Access To AI-Powered Tools
Make Microsoft Copilot or Cursor available to all tech team members. Doing so will significantly speed development, eliminate worries about syntax, and make repetitive and boring tasks less painful for engineers, allowing them to focus on logic instead of typing code. - Achraf Golli, Quizard
Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs
3. Experiment With AI Tools And Identify Inefficiencies
Organizations can best integrate AI by encouraging employees to experiment with available tools while identifying process inefficiencies. Success requires removing licensing barriers and making AI proficiency a key criterion in hiring decisions. - Lukas Petersson, Andon Labs
4. Train Your Team To Spot Deepfakes
Few cyberthreats loom larger today than deepfakes. Thankfully, there are low-cost (and no-cost) strategies available to boost your defenses. For instance, always call individuals back over a trusted line when being contacted from unknown numbers (even if the voice sounds familiar). Also, make deepfake topics a key part of your security training program. After all, to be aware is to be prepared. - Eyal Benishti, IRONSCALES
5. Leverage Generative AI
When used as a copilot, GenAI can make an immediate impact on the bottom line without requiring dramatic changes to workflows or systems. We see massive productivity gains by using AI to surface and summarize knowledge from structured and unstructured data faster than a human could alone. AI costs have dropped and capabilities have improved, so it makes a lot of sense to use it for internal productivity. - Alfred Kahn, OvationCXM
6. Assess And Optimize IT Costs
In my opinion, it’s best to prioritize a data science- and AI-driven initiative to leverage a model for optimizing IT costs, regardless of how the funds are allocated across alternatives or resources. Based on the outcomes of an optimization algorithm that aligns with technology, business and industry KPIs, the initiative should monitor and right-size IT and/or cloud resources, remove idle instances, and shift to reserved or spot instances for predictable workloads. - Ravi Changle, Compunnel Inc.
7. Explore Low-Code/No-Code Solutions
We introduced a low-code/no-code automation platform to streamline routine tasks across departments without needing advanced programming. Freeing up time previously taken up by repetitive tasks has allowed our team to focus on higher-value work, boosting efficiency, morale and customer satisfaction—all with minimal investment. - Sarim Nadeem, rootCapture LLC
8. Enhance Collaboration Tools
Improve IT time-to-value by 1. enhancing collaboration tools like Teams, Slack, Office 365 and Google Workspaces to streamline teamwork and speed up solution delivery and 2. investing in low-code/no-code automation platforms to empower everyone—not just IT—with automation. Automation grows like compound interest, starting small but yielding significant long-term returns. - Jon Latshaw, Advizex
9. Implement BYOD With Cloud VMs
Low-cost, high-impact initiatives start with looking at business value. One such initiative is enabling your team members to work from anywhere, on any device and in any application with foolproof security. This can be achieved through a “bring your own device” model combined with cloud virtual machines. The cost benefits? IT does not have to spend money on expensive hardware, you don’t have to pay for office facilities, and more. - Rajat Sharma, Radixtop IT
10. Leverage R&D Tax Credits
I believe the optimal strategy for any business context is to leverage R&D tax credits for innovation within your company. Whenever you employ new technology or innovate by trying a new process or method, any related expenses can be recouped in a lump sum of 20% for further innovation. It’s a significant advantage for both startups and established businesses to capitalize on. No stone unturned! - Charles Morey, MobilEyes Inc.
11. Implement Google Sheets Automations
One of the most powerful moves you can make is to automate using Google Sheets, Forms and Drive. There’s a simple strength in gathering data this way, and the script that runs behind it works with quiet efficiency. With large language models like Gemini and ChatGPT, you can create much of the scripting code you need for Google Sheets automation. It’s an effective way to push business forward. - Sandeep Giri, CloudxLab Inc.
12. Build Communities Around Your Business
Businesses can see benefits by leveraging peer-to-peer and community platforms. Tools to use include Discord, Telegram and WhatsApp Business. Build communities around your business to increase customer engagement and loyalty. - Dr. Milan Kumar, ZF Commercial Vehicles
13. Create Comprehensive Standard Operating Procedures
Create standard operating procedures for all processes across the business (not just IT). It’s a low-cost initiative that delivers material improvements in terms of costs, effort, onboarding, IP retention, risk mitigation and the employee experience. - Gladwin Mendez, GEC Prudentia
14. Move To The Cloud
Democratize data and move to the cloud. Cloud migration can empower teams across an organization with easy access to data while ensuring scalability, security and cost efficiency. - Ashraf Karim, Cisco
15. Hold A Hackathon
Hold a hackathon and see what kinds of solutions your team comes up with. This is an inexpensive and fun way to find creative new ways to resolve the pain points your IT team experiences or sees within the organization. - Elise London, Lakeside Software
16. Invest In Intelligent Process Automation
Intelligent process automation is a low-cost, high-impact initiative. Start with process mining (mind mapping) to identify repetitive tasks, then use existing tools like Microsoft 365 or Google Workspace to automate workflows. Create AI-enhanced knowledge bases and automate routine queries. Begin with one department and scale gradually. This approach delivers quick wins and ROI. - Balaji Dhamodharan
17. Deploy Chatbots For Internal Support
A low-cost, high-impact IT initiative is deploying AI-driven chatbots for internal support, IT help desks or HR inquiries. These chatbots can resolve common employee queries, automate ticket routing and provide 24/7 assistance, reducing dependency on support staff. With modern no-code platforms, businesses can implement chatbots quickly to drive efficiency, improve response times and boost satisfaction. - Luboslava Uram, Solvd Group
18. Don’t Build; Buy
Never implement technology for the sake of technology, and don’t build a solution if you can buy one. “Low cost” means different things to different people; while the costs of buying a solution may seem high, the year-over-year returns of not having to maintain an IT team to support a self-built solution can make buying worthwhile. Also, remember that technology is ever-changing. - Harini Gopalakrishnan, Snowflake
19. Migrate To Open-Source Software
Migrating to open-source software can reduce licensing costs while providing robust functionality for a wide range of business needs. The incremental adoption of open-source software allows businesses to allocate resources more strategically and invest in other areas that can generate growth, making it an excellent starting point for companies looking to enhance their tech capabilities. - Matthew Peters, CAI
20. Invest In Innovation Immersion Programs
A low-cost, high-impact initiative is investing in innovation immersion programs that combine security awareness with emerging tech training. These programs teach employees to prevent data breaches while gaining hands-on experience with AI tools. Adding GenAI immersion further enhances the ROI by boosting productivity and equipping teams to safely use AI, making it a smart, future-ready strategy. - Karan Jain, NayaOne
Check out my website.
Expert Panel®
Successful CIOs, CTOs & executives from Forbes Technology Council offer firsthand insights on tech & business.'
Comments