If there wasn't enough on our plate with Oil Prices and Brexit, Nov 8 Trumped in turning Singapore stocks negative. It is going to be hopeful they said, it will get better they assured, well it's not!. Be it a Big Enterprise or a Local SMB, it is time to be more positive and look for ways to cut down prices.
While I am no expert in financial solutions, I have churned out some specific suggestions that you can implement in your IT department to save up costs across 3 categories. IT management; Enterprise software; and Enterprise Infrastructure, Hardware and IT Operations.
a) IT Management Methods:
1. Ellen Kitzis said 37% of an average budget is spent on people costs, including money paid to contractors. According to Gartner, companies were planning to spend $US13,454 per employee, and that is already down $200, or 1.7% per person. Keep those that transmit the best of business knowledge. Try automating services like chat bots, self-service portals etc.
2. Creating Virtual Teams
Its good time to flatten the structure and let the manager oversee and manage the teams of 15 to 20 people.
3. Controlling managed and Unmanaged Costs
Be it Datacentre power consumption or printing, try cutting down the un-managed costs. When it comes to managed costs, the solution is as simple as revisiting the SLA terms with vendor and saving up some costs.
b) Enterprise Software
4. Be cautious of big vendors. They are bound to use boilerplate policies across all the customers and wait for complaints in reviewing the contracts on case by case basis. Keep an eye on invoices and question when necessary.
5. Eliminating the Shelf ware sloth. Its quiet common to buy off the shelf product and your employees are no more using it. The reasons could be lack of customization required to finish the task, lack of extensibility and numerous features promised by software is of no use to your company.
6. Start with clean slate
Hire a local SMB technology company with good record and build only what is needed for your business team to function smoothly. Your one time investment in custom built software would be cheaper than on going costs with Off the Shelf products.
7. Pay only for the need
Often you end up paying the shelf software for licenses and other maintenance costs every month. And while going for Technology solution providers, beware of the ones who quote less but has loads of hidden costs as you go along. Ask for clear break up in the quoted prices and choose wisely.
c) Enterprise infrastructure, hardware and IT operations.
8. There might be tools already in place, yet processes not matured enough to use them, find these areas. A well followed process can lower the costs of IT operations.
9. Perhaps using the old pcs, and servers would seem like the good idea, but identify maintenance repair and other IT costs in recovering data and operations on cases failure caused by non competent servers and systems.
10. Go more virtual & Cloud
Sometimes the answer is as simple as consolidating all the servers and going virtual as necessary. Cloud can be a good solution to implement solutions at lower cost.
If you’re facing a choice whether to build or buy, PsiberTech Solutions can help you understand the pros and cons of custom enterprise applications vs. off-the-shelf in terms of your niche organization’s requirements. Do contact us if you need further assistance. Thanks for stopping by and Have a fantastic day!
Srivatsan Aravamudan
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