When it comes to cutting costs, you have to forget about any imaginary thresholds and look at everything. I made a list of every contract that the bank had and looked for ways to lower costs for everything. And while it may be the million-dollar negotiations that everybody notices, a couple thousand dollars here or there are just as important. For example, I saved $5,000 by negotiating a contract with the guy who watered our plants. Most people don’t even notice that the guy exists. And when you tell him that he needs to lower his costs or lose his job, he’s puzzled because nobody has ever questioned him before. But $5,000 is three or four laptops for salespeople. I was also able to save $50,000 by changing our contract with the cleaning agency. You need to think of everything. —As told to Ben Worthen Related content brandpost Sponsored by Palo Alto Networks Operational technology systems require a robust Zero Trust strategy in 2024 Zero Trust provides a foundation for creating a stronger security posture in 2024. By Navneet Singh, vice president of marketing, network security, Palo Alto Networks Dec 05, 2023 6 mins Security brandpost Sponsored by AWS in collaboration with IBM How digital twin technology is changing complex industrial processes forever As the use cases for digital twins proliferate, it is becoming clear that data-driven enterprises with a track record of innovation stand the best chance of success. By Laura McEwan Dec 05, 2023 4 mins Digital Transformation brandpost Sponsored by AWS in collaboration with IBM Why modernising applications needs to be a ‘must’ for businesses seeking growth Around one-third of enterprises are spending heavily on application modernisation and aiming for cloud native status. The implications for corporate culture, structure and priorities will be profound. By Laura McEwan Dec 05, 2023 5 mins Digital Transformation opinion 11 ways to reduce your IT costs now Reorienting IT’s budget toward future opportunities is a big reason why CIOs should review their IT portfolios with an eye toward curbing unnecessary spending and realizing maximum value from every IT investment. By Stephanie Overby Dec 05, 2023 11 mins Budget Cloud Management IT Governance Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe