Digital TransformationPart 6

Cost Optimisation

Digital TransformationPart 6 Cost Optimisation

Cost Optimisation

Rikkii Richman MBA – 17/12/2020

 

Whether you call it achieving cost efficiencies or simply cutting costs, organisations are now scrutinising forecasts & budgets looking for opportunities to save. It’s no surprise then, that over the past few months, CIOs will have been busy reviewing their options.

A wise & obvious first place to look for cost optimisation opportunities, is vendors & partners. Organisations need to ask themselves; “Are they adding value? Can I get more for less? Are there better alternatives”? It needs considering with all the elements that comprise the technology ecosystem & you’ll need to review if you’re working smart, whether automation could help & what do you actually NEED to spend etc.?

Often staff are considered first; yet for most organisations, people are the most important asset. However, as I mentioned in the last blog, now is not the time to scrape the cheese off the pizza, but rather time to add more toppings, if organisations are to steer through the recovery/reimagining period effectively!

It is advisable therefore, for the CIO to reprioritise or drop portfolio projects, spend only on essentials and manage the technology team & estate like it’s their own company. They’ll need good people, a mix of current and new hires to help plan effective digital transformation strategies, if success is to be realised.

Part 7 - Restarting Transformation

Irrespective of where you or your organisation is with its business or digital transformation initiatives, we can support your transformation activities by conducting a discovery exercise, create proposals recommending actions, lead or help lead you through various stages of the initiative. Please contact us for more information or to arrange an initial conversation to discuss how we can help.

Part 5 - Before Making Cuts

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