Adrian Danescu, Executive Vice President and CIO of Manufacturers Bank in Los Angeles, reveals how to cut cost and save your company money. 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. RELATED LINKS See more “What It’s Like To…” storiesFor 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 Freshworks When your AI chatbots mess up AI ‘hallucinations’ present significant business risks, but new types of guardrails can keep them from doing serious damage By Paul Gillin Dec 08, 2023 4 mins Generative AI brandpost Sponsored by Dell New research: How IT leaders drive business benefits by accelerating device refresh strategies Security leaders have particular concerns that older devices are more vulnerable to increasingly sophisticated cyber attacks. By Laura McEwan Dec 08, 2023 3 mins Infrastructure Management case study Toyota transforms IT service desk with gen AI To help promote insourcing and quality control, Toyota Motor North America is leveraging generative AI for HR and IT service desk requests. By Thor Olavsrud Dec 08, 2023 7 mins Employee Experience Generative AI ICT Partners feature CSM certification: Costs, requirements, and all you need to know The Certified ScrumMaster (CSM) certification sets the standard for establishing Scrum theory, developing practical applications and rules, and leading teams and stakeholders through the development process. By Moira Alexander Dec 08, 2023 8 mins Certifications IT Skills Project Management 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