How ITAM 2.0 Enables Big Opportunities For IT Cost Optimization | Lansweeper
IT Cost Reduction Strategy with ITAM 2.0
Covid-19’s unprecedented global economic impact has forced CIOs to find innovative ways to manage and control costs, all while supporting organizational goals for digital transformation. Walking this tightrope requires striking a balance between short-term IT cost cutting and long-term IT cost optimization.
A recent Gartner report examined the dilemma that infrastructure and operations leaders face, and cautioned organizations to avoid “knee-jerk” reactions by making short-sighted cost-cutting. Reactive measures such as implementing a hiring freeze or cutting training programs may save money now but may have detrimental impacts on the organization over time, putting them at a disadvantage for sustained resilience.
CIOs Must Balance Cost and Agility
Organizations that continue to invest strategically in IT during tough times and forge a strong CIO and CEO relationship, are more likely to come out on top. Often, the potential benefit of long-term cost optimization justifies additional short-term investments in IT. Still, in communicating their cost optimization strategy effectively to C-suite executives, CIOs must demonstrate that a proactive approach won’t jeopardize business continuity or innovation.
However, as the number of IT assets continues to explode, CIOs will need to find a balance between containing costs and providing the business with enough agility to innovate and compete. While agility will be mission-critical, it will lead to chaos if IT loses sight of the assets they have and the assets they’re adding. Maintaining an overview of your IT Estate during a fast-tracked digital transformation process is key to optimize costs. This is where ITAM comes in.