10 Ways to Do More with Less in the Recession
The current economic climate continues to force CIOs to find ways to do more with less, here are 10 ways you can get the most out of your budget dollars.
Tue, May 12, 2009
CIO —
As the economic crisis continues, technology leaders are faced with the challenge of considering how best to trim the fat out of their budgets. While some steps are obvious and necessary, others can be like a diet you've been cheating on, which you know what you should be doing, but you don't always follow through. Here are 10 ways CIOs are doing more with less in tough economic times:
10. Cutting human resources. We're experiencing it in our offices and reading about it in the news. It's painful, we don't like it, it affects our ability to meet service agreements - and it is not always the best choice. Less systems support can continue to hurt the business. Although some think this would be a great time to "upgrade" resources, hiring managers are finding it difficult to find such resources. Those who can are staying put as they are fearful of moving in this economy. So although cutting human resources may achieve quick cost savings, C-level management believes access to and retention of key talent is the single most important issue for sustaining long-term growth.
9. Stop buying storage. It appears there is an abundance of storage everywhere. In historical comparison, storage has become so cheap we keep buying more and don't trash anything. Disks will continue to perform at greater than 50% capacity. New approach: clean up your files, clean out your e-mail, let's stop hoarding and clean house. And while we're at it, let's take a look at server capacity. Does every application really need its own server? The answer is no.
8. Increase IT expenditures. Done right, spending your money in the right place today can save you elsewhere now and in the future. Spending money on tools that will ultimately allow management to immediately cut certain expenses, such as travel, can result in a quick payoff. Investing in high-quality conferencing tools will facilitate workers to do more with less and collaborate efficiently. As business travel declines and use of external resources rises, conferencing can help bring in identifiable cost savings to companies who deploy it.
7. Improve IT governance. When asked to cut, don't ask how low, ask what? We all know best practice is for IT to be in sync with the business. Yet, business stratedgy is changing due to macroeconomic challenges. In order to prioritize for core business initiatives, CXOs are working together to rigorously scrutinize projects and priorities. This effort is resulting in monetary savings, better utilization of resources, and a better understanding of the strategic direction of the organization.
