IT costs are an expensive piece of any organization’s budget. With the steep rise in inflation, there is no better time for businesses to evaluate their IT spending and identify any areas for potential cost savings. By assessing your environment for ways to optimize IT costs, your organization can stay competitive going into the new year. Below discusses 3 ways to help prioritize IT cost optimization and savings in 2023:
1. Leverage Flexibility in the Cloud
According to Zippia, 82% of small and medium businesses report reduced costs after adopting cloud technology. If your business is growing, purchasing new hardware can be expensive and inconvenient. Rather than buying or upgrading physical equipment, moving to the cloud provides the flexibility that physical servers do not have, requiring less effort to maintain and a lower cost of entry. Cloud solutions are more scalable and versatile, reducing future expenses if your business requirements change. Operating in the cloud will also provide more efficient operations and increased productivity with data access available anytime from anywhere for users.
2. Consolidate IT Vendors
If your company has recently grown through acquisition, or you have multiple office locations to manage, you are most likely utilizing multiple IT vendors and spending more than needed to properly manage your environment. By consolidating your IT needs into one vendor, your business can save a large amount of money and see a better return on investment after eliminating the duplicate spend. Along with the cost effectiveness of unifying under one management umbrella, it will also benefit users being in the same setup. When everyone is managed the same way, it becomes easier for users to operate with seamless communication in one secured environment.
3. Examine Commitments with your Software Vendors
Many software vendors will offer large discounts if you agree to a longer commitment. With inflation on the rise, there is a risk that your rates may increase over the next 12-24 months, so if you lock them in now you can potentially receive a lower rate. If your business is dependent on a software with no plans to move away from, it may benefit you to approach your vendor about committing to a longer term to get cost savings.
A trusted IT provider should not only bring functionality into your business, but they should also help identify cost-saving opportunities. CompuData has a lengthy history of assisting organizations with complex IT needs, helping to unify their IT infrastructure and save on monthly expenses. CompuData can provide a look into your environment and identify these types of cost savings opportunities to help your business optimize IT spending going into the new year.