The EOFY Tech Checklist You Didn’t Know You Needed

As an accountant at ICTechnology, I’ve had the privilege of collaborating with colleagues across various departments to understand how technology impacts businesses during the End of Financial Year (EOFY) period. While many business owners focus on finalising their financials, there’s an often-overlooked area that can either make or break the smooth transition into the new year: your technology. 

EOFY is a critical time for businesses, but it’s equally important to ensure your systems are operating at peak efficiency. The end of the financial year is the perfect time to assess your technology and prepare for the year ahead. If you haven’t already, it’s time to give your IT infrastructure some well-deserved attention. Here’s your essential EOFY tech checklist to ensure your business is set up for success in the new financial year. 

Review Your Cloud Storage and Backup Systems 

Almost every business now relies on the cloud for file storage, collaboration and disaster recovery. In fact, public cloud spending in Australia is forecast to reach A$23.2 billion in 2024, a jump of 19.3 per cent from the previous year. That trend underlines how crucial cloud services are to keep data accessible, secure and organised (Australian Bureau of Statistics, 2022). But space can fill up quickly—and if your backups aren’t working as expected, you risk losing vital information at the worst possible time. 

What You Can Do

• Check Storage Capacity: Log into your cloud dashboard (eg. OneDrive, Google Drive, AWS or Azure) and verify current usage. If you’re nearing your limit, now’s the time to upscale. Otherwise, files may start failing to synchronise, or new data might not be stored at all.
• Test Your Backups: Schedule a test restore of key files or a small folder to validate that backups are functioning properly. Nothing’s more frustrating than discovering on 30 June that your supposedly “secure” backup hasn’t run in months.
• Audit Your Provider: Consider whether your cloud storage partner meets your security, compliance and scalability needs. If you need help choosing or migrating, check out our cloud backup and disaster recovery services for a fully managed, Australian-based solution.
• Implement Version Control: If multiple team members collaborate on documents, ensure version history is turned on to avoid overwriting changes. This will also let you roll back to previous versions should anything go awry.

2. Update Your Firewalls and Security Protocols 

Cybersecurity isn’t just a buzzword—it’s a necessity. Cybercrime is no longer “someone else’s problem”. During FY 2023–24, the Australian Cyber Security Centre received over 87,400 reports of cybercrime—approximately one every six minutes. Ransomware, phishing attacks and business email compromise are on the rise, and small to medium businesses (SMBs) can be especially vulnerable (Australian Cyber Security Centre, 2024). Without robust defences now, you could face data loss, reputational damage or hefty remediation costs in FY 2025–26. As businesses close out the year, cybersecurity should be a top priority. The rise in remote work and digital transactions has led to an increase in cyber threats. 

What You Can Do

• Patch Your Firewalls: Ensure that any hardware or virtual firewalls are updated with the latest firmware and threat signatures. If you don’t already have a routine patching schedule, it’s time to create one. Our managed IT services include proactive monitoring and patch management, so you never miss a critical update.
• Strengthen Password Policies: Enforce passwords of at least 12 characters, including numbers, uppercase letters and symbols. Consider a password manager for staff to reduce the temptation of reusing weak passwords.
• Enable Multi-Factor Authentication (MFA): Wherever possible (email, VPN, payment portals), turn on MFA. If a credential does leak, MFA adds a much-needed extra layer of defence.
• Run a Cybersecurity Audit: If you haven’t had a professional review in the last 12 months, engage an expert to identify weak points. A third-party audit can reveal misconfigurations, outdated protocols or abandoned user accounts. Our cybersecurity services team can run vulnerability scans and advise on risk mitigation.

3. Audit and Optimise Your Software Systems 

Many businesses run on a combination of software subscription systems—a cloud-based accounting package, a payroll portal, a CRM for customer information, and perhaps a separate project-management tool. But these platforms rarely “talk” to one another, which can lead to data silos, duplicate entries and inefficiencies. In the 2021–22 Business Characteristics Survey, 59 per cent of Australian businesses reported using cloud technology, yet many still relied on legacy software that hadn’t been reviewed in years (ABS, 2022). EOFY is the perfect time to evaluate whether your software tools are still serving their purpose and optimising your workflows. 

What You Can Do

• List Current Subscriptions: Create a spreadsheet of every paid software licence—name, purpose, licence expiry and cost. This snapshot will help you see where money is being spent, and which tools are underutilised.
• Identify Redundancies: Is your accounting package doing everything your standalone payroll platform does? Would it be cheaper to consolidate? Look for overlapping features and cancel any licences that aren’t critical.
• Consider Integration: Workflows often grind to a halt when someone has to manually export CSVs from one system and import into another. Look into integrating your CRM, accounting and project-management tools. Our IT consulting and software integration services can help automate data flow, reduce errors and save hours of manual entry.
• Check for EOFY Discounts: Many SaaS providers offer promotions around 30 June to lock in renewals. It’s worth asking your account manager if there are preferential rates or additional modules you can bundle at a discount.

4. Prepare for Smooth Data Migration

As your business grows, you accumulate mountains of historical data—old project files, archived invoices, research documents. Keeping all of this on primary storage racks up costs and can slow down performance. The EOFY is an ideal time to archive or delete redundant data and move infrequently accessed files to more cost-effective storage. Done well, data migration boosts server performance and lowers monthly cloud bills.

What You Can Do

• Plan Early: Data migrations, even for SMBs, can take longer than you expect. Schedule the project for the first few weeks of June, rather than leaving it until the last week of EOFY.
• Map Your Data: Catalogue which files should stay on primary systems and which can be archived. Group them by department, year or client.
• Backup Before You Migrate: Always take a full backup snapshot just before any data move. That way, if any files get corrupted during transit, you can restore from the backup.
• Choose the Right Target: If you’re moving old accounting files, a low-cost “cool storage” tier might suffice. For sensitive client records, though, opt for an encrypted, more secure repository—perhaps our private cloud or a dedicated cloud backup solution that includes encryption and automatic replication across data centres.
• Minimise Downtime: If your migration is extensive (eg. on-premises servers to the cloud), consider doing it over a weekend or after hours. Notify staff in advance, and provide a clear timeline for when systems will be offline.

5. Review Your Business Continuity and Disaster Recovery Plans 

Life is unpredictable, and while you can’t always plan for disasters, you can certainly prepare for them. Your disaster recovery (DR) plan is critical to ensuring that your business can recover quickly from unexpected events such as cyberattacks, natural disasters, or technical failures. Without a proper DR plan, you risk prolonged downtime or, in the worst-case scenario, the loss of critical data. The ACSC reports that 11% of incidents reported in the 2023–2024 financial year involved the use of ransomware.  

What You Can Do

• Update Your BCP and DR Plans: Pull out your existing Business Continuity Plan (BCP) and Disaster Recovery (DR) documentation. Double-check contacts, roles and responsibilities. Have any staff changed jobs? Are all contact numbers current?
• Test Your Recovery Processes: A plan is only as good as its execution. Conduct a “tabletop drill” where key personnel simulate a data breach or server failure. Walk everyone through their actions step by step.
• Validate Your Offsite Backups: Ensure that offsite (or cloud-based) backups are both complete and restorable. A backup sitting in a data centre is worthless if it can’t be spun up in a hurry.
• Consider Tiered Recovery Objectives: For mission-critical systems—ecommerce portals, payment gateways—aim for a Recovery Time Objective (RTO) of under 2 hours. For less critical archives (e.g. two-year-old marketing collateral), you might tolerate a longer RTO. Our disaster recovery planning includes strategies for zero RTO/RPO on essential systems, so you can be back online within minutes.

6. Evaluate Your Hardware and Upgrade Where Needed 

Even the best software and cloud solutions rely on healthy physical machines. The average lifecycle of office hardware in Australia is around 3–5 years; beyond that, components start to fail, performance lags increase and energy consumption climbs. You don’t want staff struggling with a 7-year-old desktop that takes five minutes to boot, especially when it could be slowing down file synchronisation or preventing timely software updates.

What You Can Do

• Inspect Workstations and Servers: Walk around the office (or home office) and note machines that are sluggish, producing loud fan noise, or showing signs of overheating.
• Check Peripheral Condition: Printers, network switches, UPS units and NAS devices also have finite lifespans. Are any of these making unusual sounds or warning lights?
• Create an Asset Register: If you don’t already, implement an asset management system that logs purchase dates, warranty status and replacement plans. That way, you can stagger upgrades and budget more effectively.
• Plan for Upgrades: If you identify multiple ageing machines, schedule an upgrade for July–August to avoid cashflow issues in June. Talk to ICTechnology team about bulk-purchase discounts—our hardware procurement service can bundle workstations, laptops and network gear at competitive rates.
• Consider Energy Efficiency: Newer hardware often has better power management features, which can cut energy bills. For example, modern power supplies operate at higher efficiencies, and SSDs draw less power than spinning HDDs.

7. Final Checks and Risk Assessments 

What You Can Do

• Conduct a Full Vulnerability Scan: Use a reputable scanner (eg. Nessus, OpenVAS) to scan every IP address on your network. Resolve any high CVSS scores before 30 June.
• Review Access Controls: Ensure that staff who have left the company no longer retain access to critical systems. Implement least-privilege principles so that employees only have rights relevant to their role.
• Evaluate Third-Party Integrations: Are any of your plugins, APIs or webhooks operating on outdated versions? Vulnerabilities in third-party components can let an attacker slip in unnoticed.
• Prepare a Quick Response Kit: Store encrypted passwords for firewalls, switches and cloud admin accounts in a locked-down, offline location. Should you need to act fast, everything is available in one place.

Bridging to a Strong New Financial Year

You’ve now navigated the essential steps to ensure your technology is primed for the year ahead, from tightening security defences and streamlining cloud storage to refreshing hardware and validating disaster recovery plans. By methodically ticking off each item on this EOFY tech checklist, your business can minimise risks, improve efficiency and enter FY 2025–26 with greater confidence. These recommendations are designed to fit the unique demands of organisations and help you stay ahead of the curve.

At ICTechnology, we understand that every business faces its own set of challenges—especially when it comes to juggling daily operations alongside IT maintenance. As a fully Australian-owned and operated company, we’re committed to supporting local businesses through tailored managed IT services, cloud computing solutions and robust cybersecurity audits. Should you ever feel that your team lacks the time or expertise to execute any part of this checklist, we’re here to partner with you. From designing a disaster recovery plan that meets Australian compliance standards to fine-tuning your network’s performance, our aim is to simplify technology so you can focus on what matters most: growing your business.

EOFY Wrap-Up: Key Reflections and Next Steps

Taking a proactive approach to technology upkeep at the EOFY isn’t just a box-ticking exercise—it’s an investment in operational resilience and future growth. By regularly reviewing cloud backups, enforcing strong security protocols, consolidating software and refreshing ageing hardware, you lay the groundwork for smoother workflows and fewer unexpected disruptions. Remember, the small effort you put in now can pay dividends in the form of reduced downtime, lower running costs and enhanced data protection.

If you’re ready to transform these recommendations into tangible improvements, reach out today and let’s discuss how we can work together. Whether it’s a quick phone call to clarify your current setup or a comprehensive IT audit to uncover hidden vulnerabilities, our team is here to guide you every step of the way. Together, we’ll ensure your business technology is not just ready for FY 2025–26 but well positioned to drive your success in the years to come. Here’s to seamless IT experiences and a prosperous year ahead!

References

Australian Bureau of Statistics (ABS). 2022. Business Characteristics Survey 2021–22: Cloud Technology Use. Canberra: ABS.

Australian Cyber Security Centre (ACSC). 2024. Annual Cyber Threat Report 2023–24. Available at https://www.cyber.gov.au/about-us/view-all-content/reports-and-statistics/annual-cyber-threat-report-2023-2024 (Accessed 4 June 2025).

Australian Signals Directorate (ASD). 2024. Cyber Security Incidents and Ransomware Data FY 2023–24. Available at https://www.cyber.gov.au/ (Accessed 4 June 2025).

Australian Bureau of Statistics (ABS). 2022. Public Cloud Expenditure in Australia – Industry and Business Characteristics. Available at https://www.abs.gov.au/ (Accessed 4 June 2025).

Australian Cyber Security Centre (ACSC). 2024. Cybercrime Reports 2023–24. Available at https://www.cyber.gov.au/report-and-recover/reportcyber (Accessed 4 June 2025).