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Find Opportunities in Crisis by Optimizing your Technology Spend
Yes, pandemic has changed the way we live, the way we work and most importantly the way we interact and transact. We have been through these uncertainties before in 2001 and 2008 but this one is unique because its impact is global. Because the global economy is so interconnected and interdependent, it has caused enormous uncertainties for companies across sectors. We all have to accept the realities of the Now Normal and learn to survive and thrive. As per a recent survey by 451 – Voice of Enterprise, 52% enterprises expect major disruption to their business within 6 months. While companies are responding to this unforeseen event and its repercussions via budget crunch, they also need to prepare for a post-pandemic world.
CxOs are increasingly re-prioritizing spend in order to fund growth and innovation. The usual reactions are cutting discretionary spend, delaying the start of new projects – often coming at a significant price to the business in the longer term, but you don’t have to necessarily do that. While the impulse is to cut or reduce, enterprises in fact need to optimize their spend in short-medium term in order to continue to fund digital transformation to stay competitive and become a market leader.
Do you know that enterprises are now spending 40% of their IT budgets on cloud and software combined? But the reality is that a third of that investment is not delivering the desired results/returns. Identifying the inefficiencies in investments is the first step because it exposes opportunities for repurposing the spend and ensuring that the talent is focused on initiatives that move the needle.
So, how do you quantify how much of your technology spend is wasted? How would you uncover the areas for optimization? Look around your organization – get a comprehensive view of your entire IT processes, application and systems landscape, from precise on-prem and multi-cloud environment usage, to underutilized SaaS subscriptions, license redundancies, shadow IT, shadow software, understand the technology stack, infrastructure, storage as well as talent and governance aspects. While some of our customers proactively do this annual “cleansing”, most companies respond reactively to an economic crisis.
This through analysis allows you to in identify your “hidden treasures”, “hidden costs and inefficiencies” lying all over the organizations. Once you understand your “optimization levers” you can perform a thorough cost-benefit and ROI analysis and redirect the savings toward digital imperatives that matter the most and helps you stay ahead.
We have seen this approach work over and over again and results are astounding. Here is sample of what we have found:
- 15% savings by rationalizing current applications and standardizing the technology stack
- 30% savings by optimizing Cloud strategy
- 25% savings by rearchitecting infrastructure and storage
- 10% saving by streamlining procurement
- 30% saving by optimizing software licensing
- 20% saving by rationalizing the capital spends
- 10% savings by optimizing resources and operations
And list goes on …
Is it easy? No.
Is it straightforward? No.
Is it simple? Maybe
You will need a partner who knows how to do this in a prescriptive way – One who has built a holistic framework and a robust methodology to do 360 degree assessment of infrastructure, applications, people and processes in an automated, repeatable and scalable way, one that can do detailed ROI and TCO analysis and create a comprehensive optimization roadmap for you to simplify and strengthen the operating model, to better position your organization for the long haul.
We are here to help.
