Why You Need An IT Audit Before You Sell Your Business

Why should you get an IT Audit for a business you’re hoping to sell?

You need to know how valuable your computer equipment is to capitalize on it. You’ll need this information when negotiating a sales price.

There’s a lot more to consider than you may assume.

What Technology Upgrades Should You Make Before Selling Your Business?

Before listing your business for sale, you should consult with an IT professional. A thorough IT Audit will ensure that your technology will contribute to a good sales price. With a knowledgeable and reliable advisor on your side, we can ensure you get the most from your technology investments when you go to sell your business.

Servers

You may wonder if you need a new server—there’s a good chance you do. Prospective buyers know they can’t rely on computers alone to store their business management software.

New Computers & Other Hardware

Here are some questions prospective buyers will ask: How many computers does your business have, what kind are they and how old are they? Can they handle the software that you’ll use? An IT assessment will answer these and other questions.

Mobile Devices

Most businesses use mobile devices today. This adds value to your business and that you can include in your sales agreement.

The buyer’s staff may want access to mobile solutions like tablets and smartphones. This way, their staff can move throughout the office and input or access data from the server with a tablet.

Wireless Networking

They’ll need this to support Wi-Fi in the office. Ensuring your wireless network is responsive and fast is an important investment you should make before selling your business. It will provide the buyer’s staff with the ability to access the Internet, move around the office, and tap into what they require with a tablet or iPad.

If your organization has visitors or customers visiting your facilities, buyers may also want secure guest Wi-Fi. Providing your customers with Wi-Fi is an expected amenity today. Depending on your business size, you may need additional access points for the Wi-Fi to ensure total coverage. The IT Audit can determine this.

Hardware-as-a-Service (HaaS) 

If your computers or other IT equipment is on a Hardware-as-a-Service agreement or another type of lease, your buyer will want to know the exact terms and how much more might be owed on the lease. You should also ensure that the HaaS or lease agreement is transferable – not every agreement can be transferred to your buyer.

An IT Audit can help determine if you have any devices eligible for replacement, such as printers, copiers, firewalls, or servers. Exercising your upgrade options will ease the transition for your buyer and ensure they have the most up-to-date equipment available.

The benefit of HaaS is that the buyer can conserve their capital. They won’t need to spend any money upfront for new computers and other hardware. Instead, they can take over the existing, affordable monthly fee based on how many computers they need.

This will give your buyer the flexibility to add on as they grow or remove computers that they find they don’t need.

Network Cabling

An IT Audit will also consider your current network cabling and if it’s sufficient for a new business.

Make sure your office is equipped with CAT6 Cabling. This is what modern offices require today. It supports a 10-gigabit network and Ethernet that transmits one gigabyte per second. Your prospective buyer will look for this.

They’ll need cable access for anywhere they want Ethernet ports or VoIP phones. Better to plan for all of this now before you negotiate a sales price for your business.

Cybersecurity

You can’t afford to cut corners here. With hackers looking for valuable business data to sell on the Dark Web, you must ensure your buyer will have the highest levels of IT security.

Antivirus on computers isn’t enough. Your buyer will look to see if you’ve been using a layered, managed security service that remotely detects intrusions and irregularities and resolves them immediately.

An IT Audit will consider this. What’s more, if your buyer sees that you’ve kept security in mind, this could be in your favor when you negotiate your selling price.

CCTV & Access Controls For Security

Does your business have these in place? If not, this is another item prospective buyers will look for. Video surveillance is one of the best ways to deter crime in the workplace.

Businesses also secure their buildings and offices with specialized credentials, advanced badge readers, alarm systems, and reporting software. Facility access controls are the best way to prevent unauthorized access; your buyer will also want this.

Instead of giving employees a key, access control systems use unique credentials to unlock the door. The credentials are encoded in an employee’s key card to unlock the door. When a person leaves for another position, their credentials are deactivated, so the key card no longer works.

With an access control system, your buyer will also know who enters the office, and when they opened the door. They’ll receive reports if an unauthorized individual tries to enter. They can also prevent access to private rooms or areas inside the office that only certain employees should enter—this is a great selling point.

VoIP Business Phones

Do you have a VoIP (Voice over Internet Protocol) phone solution? This can provide access even when phone lines are down from a storm.

By replacing traditional phone lines with SIP (Session Initiation Protocol), you can tell your buyer they’ll save from 20% to 50% on their monthly phone bill.

Servcom USA Will Assess Your IT

The Servcom USA team of IT professionals will assess your IT from end to end, providing a range of important services:

• A comprehensive analysis of your current technology solutions to determine the state of your IT, and what potential issues need to be addressed.
• A detailed IT plan addresses all tech concerns, avoiding unnecessary consequences such as downtime and additional support expenses.
• A thorough budget and project plan show you exactly what the remediation and maintenance of your IT will cost you.

Don’t Sell Your Business For Less Than It’s Worth

Don’t be afraid to think big and promote the IT solutions you’ve provided for your negotiating counterpart.

Your prospective buyers know that the right IT equipment is critical to their productivity in the new space. Let them know that the IT solutions you’ve implemented can save them time, improve the quality of their business processes, and allow them to increase revenue.

If you’re looking to sell a business, contact Servcom USA. We’ll perform an IT Audit of your business so you’ll be in a better negotiating position and get the most money for your business.