Gartner Insights helps IT leaders and executives to build an effective IT budgeting template. Check out the IT cost optimization tips and best practices from experts.
Gather people together to talk about difficulties and successes. Recognize progress publicly. In that time, look for knowledge gaps to fill. For IT teams to make smart spending decisions, they need both financial information and the skills and knowledge to understand, interpret and apply it.
and rationalization of IT spending. Constant change means there are always investments that can be reviewed, rationalized and even cut from a technology budget.is associated with greater financial maturity, according to the Gartner IT Score for CIOs Assessment. It shows that 77% of mature IT organizations continuously initiate IT spend reduction ideas and actions across the enterprise, compared to only 18% of nonmature organizations.
Beyond reducing spending on underperforming assets, IT cost optimization also requires CIOs and IT leaders to reallocate resources to IT initiatives with potentially higher impact on business value, for example by improving productivity for both IT and the business. The key idea here is to be smarter about spending before we commit resources.
Improve cost efficiency: Help IT teams do what they currently do better using fewer resources, so that more spend can go to differentiating activities. Align to value: CIOs must lead efforts to align spending with priority business outcomes. Success in this effort requires an understanding of the needs and desired outcomes of IT stakeholders. To gain this understanding, IT leaders must partner with stakeholders to define what they value.
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