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Spend Less and Drive More Value from IT ― How Best in Class Enterprises do it

IT systems are integral part of any business today. The best-in-class enterprises keep exploring opportunities, introducing newer technologies and rolling down new strategies to gain efficiency.  They aim at spending less and driving more value from IT resources, including web hosting provider services. Their strategic IT decisions are based on simple business factors discussed below:

Strategy: How Best in Class Enterprises Spend Less and Drive More Value from IT-

Gathering Facts:

You should first gather facts and figures on your IT expenditure, considering various decision-influencing factors. You should also collect sources regarding how industry functions in to the matters of IT expenses, based on several metrics.

This will take you to the next step of assessment, analysis and comparison.

Assessment & Analysis:

You should compare enterprise IT expenses to that of the industry competitors and potential chasers. The assessment should be made on the basis of several technical and organizational goals, efforts-&-results parameter. Make a risk-investment-benefit analysis and evaluate opportunities and analyze each one for its viability.

Maintain-Prune-Transform:

Now we come to the step of planning where you need to draw an IT cost optimization strategy where the focus lies on cost savings, without ruining the business. You need to take into account all factors incurring IT costs, right from the from IT purchases, digital process to employee cost. Whole IT model of the business needs to be viewed upon from the maintain-prune-transform perspective. It simple words, you have to decide what all you need to go ahead with, what needs to be pruned out and what needs transformation. 

For example, if you think that the existing IT services provider can be replaced by some more efficient provider who is offering reasonable prices. Then transform your business right away and save costs.

Cost_optimization_IT_value

Put in a nutshell, it’s all about IT cost optimization and rightsizing the resources by subsiding the cost factors and deriving more value from the available resources. Apart from right resources, best-in-class enterprises have the effective governance and management, which further supports in deriving more value.