In this infographic, explore our top four tips to optimize an IT budget, including how to reduce IT costs, stretch your IT budget further and contribute to the financial success of your organization. More: http://ms.spr.ly/6004pjika

1. Where IT leaders say they’re introducing automation:
57%
44%
37%
36%
32%
25%
16%
10%
4Tips to Optimize
Your IT Budget
According to market research, 71% of IT
decision-makers are focused on reining
in operational costs. This infographic explores Insight’s
top four tips to reign in costs, stretch your IT budget further
and make a significant contribution to the success of
your organization.
The first way to achieve cost optimization is by being more efficient with the resources
you already have. Many organizations are mired in manual processes, which reduce
the effectiveness of your technology and people.
Save time and money by introducing automation wherever you have labor-intensive
processes or tools.
Increasing cash flow liquidity is a common goal for many of our clients these days.
Subscription models are the easiest way to achieve this.
Also known as “Anything as a Service” (XaaS), subscription models let organizations
consume IT functions (software, security, services, etc.) through a pay-as-you-go pricing
structure. This eliminates the need for large, upfront investments and gives
organizations greater flexibility and control over their finances.
Benefits of XaaS:
For example, the device refresh process is labor-intense and logistically complex. You
can introduce automation and reduce labor costs by outsourcing the process to a
capable IT partner.
Business process and/or case
management platforms
Robotic process
automation
Image recognition/optical
character recognition
Machine
learning
Process mining, discovery
and/or documentation
Chatbots, virtual and/or
voice assistants
Natural language
processing
10% Cognitive
engines
of organizations are actively
pursuing automation in 2020.
of IT professionals report seeing reduced
costs as a result of subscription models.
The positive results of EX initiatives:
of organizations that make EX a high
priority see a positive impact on profitability.
The productivity of your people is just as important as the efficiency of your IT. In fact,
56% of CEOs say employee productivity is of high concern. But you can’t
expect to increase employee productivity without improving Employee Experience (EX).
According to Deloitte’s “Tech Trends 2019” report, as much as 70% of the IT
budget goes toward keeping business-critical technology systems running. Working
with an IT partner to offset these costs can result in a savings of 25% to 45%.
Organizations that employ managed services typically increase operational
efficiency by 45% to 65%.
However, having too many partners can have the opposite effect, draining your
resources and increasing the complexity of your environment. Reduce costs and
increase efficiency by consolidating to a single IT partner.
Sources:
Deloitte. (2018). Accelerating Agility with XaaS.
Everest Group. (2020, May 29). How Are You Preparing for the “Next Normal”? | Market Insights™.
Harvard Business Review Analytic Services. (April 2020). Making Technology an Integral Part of Your Employee Experience Strategy.
Insight. (2020,June 15). Driving Business Value Through Vendor Consolidation.
McKinsey & Company. (2020, Aug 25). The Imperatives For Automation Success.
Mordor Intelligence. (2019). Managed Services Market Size, Share - Growth, Trends, And Forecasts (2020–2025).
The Predictive Index. (2020). CEO Benchmarking Report 2021.
Higher employee
engagement
70% 64% 62% 61%
Increased employee
productivity
Improved
organizational
resilience
Improved
organizational
agility
However, the IT department rarely takes responsibility for EX:
40% of business executives say human resources is responsible for EX.
< 5% say IT is responsible for EX.
This should be a shared responsibility since the IT department can drastically
improve the employee experience through convenience features, such as:
Single
Sign-On (SSO)
Predictable
monthly payments
Self-service
IT support
Faster Return
on Investment
(ROI)
Modern apps
to access legacy
systems
Continuous
upgrades and
simplified
maintenance
E-procurement
storefront for
hardware, software
and services
Greater flexibility
and ability to
innovate quickly
Employee experience can result in increased productivity, higher devotion
to work, less employee turnover and higher profitability. These are the
tangible results of an engaged workforce.
– Michael Gretczko, Deloitte consulting principal.
“
7 in 10 organizations see
better ROI and lower TCO from XaaS
adoption versus traditional IT.
Create efficiencies through
process automation.Tip 1
Make employee
experience a priority.
Have fewer and
better partners.
Tip 2
Tip 4
Make the switch to
subscription models.Tip 3
IT vendor consolidation is a strategic decision that — if undertaken
correctly, alongside the right partners — can drive greater business value
and position the enterprise for future growth.
– Driving Business Value Through Vendor Consolidation, Insight
“
Exhibits expertise
across many IT
specialties
Demonstrates
value beyond
financial metrics
Has strong
relationships with
multiple IT
manufacturers
Offers automated
processes and a
large portfolio of
integrations
Qualities of a capable IT partner: