Businesses need to keep a constant eye on two areas: revenue and costs. During quieter months or quarters, finance directors and CFOs need to review every line item. IT is an essential operational area; but that doesn't mean costs can’t be saved when budgetary concerns require change.
Reviewing IT budgets doesn't start with salaries and software subscriptions. Instead, look at outputs and the overall impact on the business. In our experience, supporting IT teams in the private and public sectors, here is how to identify value and savings in your IT team.
#1: Is IT aligned with business objectives?
In most businesses, whether they work with an external IT partner or everything’s in-house, IT is often viewed one of two ways. Either it’s a strategic player with a seat at the table. Or the IT team are seen as the back office geeks who look after things most people don't understand.
Once Boards and business leaders make the leap from ‘tech support’ to strategic and operational enabler, then you can drive forward improvements throughout the businesses. You can save costs and identify the value of investing in your IT team.
#2: Do we have the right resources for our needs?
One way to assess resources against demand is the turnaround time of support tickets and how happy or not your staff are at the speed they get tickets resolved. When it takes time to resolve tickets it can reduce productivity. Your team aren't as efficient. Low downtime and high satisfaction scores are a sign that you’ve got the right resources in place.
However, if your IT team spends all its time resolving ‘tech support’ problems, it might not be doing the strategic work you need to achieve key business objectives. Could you be getting more value from the IT department if they focused on these projects and support issues were outsourced to a service desk provider?
#3: Do you have the right talent in your IT team?
The market for IT talent is competitive. Internal IT teams are competing against IT companies, software firms, the latest SaaS startups, and big tech/consultancy giants. When recruiting you may struggle to find top talent for your budget, especially when you are up against competitors with deep pockets and exciting projects.
Instead, consider the alternative. Work with an IT partner who's already got the talent, software and tools you need to make your IT budget go further and improve internal efficiencies. This way, you can reduce costs whilst focusing internal teams on long-term challenges that will have a noticeable impact on your business’s bottom line.
For more insights into how IT can help your business compete in today’s marketplace download our whitepaper 5 IT Strategies For Business Success.
5 IT Strategies for Business Success
Information Technology (IT) has revolutionised the lives of individuals and organisations. Innovation in this sphere has created business opportunities that did not exist five, ten or twenty years ago, both in the way companies operate as well as the services and products they sell.