Unless you know exactly when that “next big thing” will hit the market (and can plan for it accordingly), ask yourself two questions before you buy. Will your existing technology allow you to meet your business needs for the next 12 to 24 months? Can you upgrade when new features become available? Technology release dates are often later than expected, so you should also ask yourself how urgently you need the new technology, and if not having it will disrupt or diminish your business performance. New technologies often need time to mature once they’re out. Meanwhile, your business has to compete in today’s market, so while it might be possible to wait, frequently it’s better to make do with what’s currently on the market.
For more on IT investment, be sure to read How to Develop a Technology Investment Strategy.