Organizations are scrambling to find cost savings while trying to establish the new “business as usual”. The investments you planned that would make your company more innovative and competitive are under scrutiny.
These are hard decisions, but critical. A 2019 Bain analysis of S&P Capital IQ data showed businesses that take “companywide measures to prepare for a downturn” grow significantly during and following downturns. This is in stark contrast to businesses that don’t take measures to prepare, and whose earnings before interest and taxes (EBIT) don’t grow.
The best cost reductions are hard–dollar savings that have zero impact on your strategic initiatives—the type of cost reductions that don’t result in layoffs or decreased investment in important programs.
Flexera helps organizations remove waste in the IT portfolio—analyst firms estimate 20 to 25 percent cost savings in software alone.
Consider the IT spend you can eliminate today with zero disruption to your business:
- Unoptimized software licenses in the data center and cloud
- Monthly payments for unused SaaS subscriptions
- Oversized workloads running in the cloud
- Workloads unnecessarily running 24/7
- Maintenance for end-of-life hardware and software
- Unbudgeted software audits
These are easy, painless decisions. Now more than ever, you’ll benefit from IT visibility, better informed IT Management and Cloud Control. These types of saving initiatives enable you to remove pure waste so you can re-direct your increasingly scarce funds to the things that help your business survive.
Survive then thrive. You can cut costs out of your business while remaining competitive. It seems hard to imagine today, but there will be a reversal of the downturn. By optimizing your IT spend now, you’ll emerge from the crisis leaner, more innovative and ready to take on the competition.
To learn more about how companies turn to SAM vendors to cut costs, download the Gartner Magic Quadrant for Software Asset Management.
Source: https://www.flexera.com/blog/industry-trends/2020/03/driving-cost-savings/
