Few businesses can say that they were totally prepared for the coronavirus pandemic. Global shutdowns and distributed work put CIOs and IT teams in the spotlight; forcing them to come up with “quick fixes” to minimise disruption and keep things running as smoothly as possible in a more digitally-driven, socially distanced world.
Today, IT is no longer just something that runs in the background and has become a pivotal part of business operations. This is especially true in environments where IT teams are being asked to find ways to reduce and optimise costs so that the company can survive. According to Gartner, CIOs must follow a “cost optimisation framework” in order to determine where they can reduce IT and business costs due in response to the economic fallout caused by COVID-19.
This means identifying opportunities for technology-enabled improvements; areas where technology could increase productivity and save money. While we understand that now is the time to do whatever it takes to “keep the lights on”, it’s also time to think about what will be needed in post-pandemic environments.
Below are a few key points to consider if you want to ensure that your information technology environment is delivering today and into the future.
Understand your technology environment: When you understand the technology you have, and the technology you need, you can analyse/identify problem areas. This also makes it possible to develop plans to leverage tech to optimise your operations.
Work with the CFO: It’s the CFO’s job to measure costs and allocate budgets. They are not expected to understand how the latest tech innovations can help them to use their budgets more effectively. Successful IT management demands that the CFO and the CIO work together to strategically align IT expenses and business values.
Identify cost saving opportunities: Let’s imagine that you issued every employee with a laptop and an Internet dongle when the national lockdown began. Have you checked in to see if everyone is using these resources? Some may be using their home PC and WiFi, which makes these tech assets redundant. Cutting costs is all about identifying opportunities to shed expenses and improve the use of resources.
Look long-term: As mentioned above, it’s critical to strategise and plan for post-pandemic tech environments. Consider how something like automation, for example, could enable cost saving into the future. And perhaps a technology expense management solution could be the key to effective IT management; helping you to monitor your expanding tech environment.
Want to find out more about technology expense management? We’ve got your covered. Simply complete the form below and we’ll be in touch.