Where to Cut Costs in the Recession
Unless you happen to work for one of the few companies that have flourished during the 2020 pandemic and recession, what follows is for you. It will help you reduce your company’s technology-related spending beyond the cuts you may have already made. The Analyst Syndicate is here to help you with timely ideas for cost cutting opportunities, and guidance about how to make them work, including—importantly–what not to do.
Savings Opportunities You May Have Overlooked
Opportunity: Permanently Move Your Workers Home
By Ken Weilerstein
How many times will you open and then close your offices during the pandemic? Could sending your staff to work from home for good save you money? And reduce the confusion? Would that actually work? The answer depends on the timely actions actions you take to support your workers this year, and above all, on your decisiveness.
Reduce Telecom Expense by Slashing MPLS Circuits to Empty, Remote Offices
By Richard Stiennon
Realign your spending to a smaller and increasingly remote workforce. The following advice from Syndicate Analyst Richard Stiennon can save you millions of dollars annually:
- Eliminate the MPLS circuits in your empty offices.
- Halve the bandwidth for the circuits you’ll retain.
- Connect your workers directly to the resources they need, and eliminate unnecessary hairpinning.
- Ultimately move your data center applications to the cloud.
Reduce BPO Spending
By Bruce Guptill
BPO was supposed to save you money. But what made sense when you put it in place, may now be costing you 10-20% too much. Follow our check list to find the most common sources of waste, and follow our proven tips on how to eliminate them.
Opportunity: Use RPA to Help You Save Money
By Ken Weilerstein
Are some of your business processes too complicated to exhaustively reengineer right now? Don’t overlook the ways RPA can rapidly automate small and large-scale business processes in most industries and many departments. Check out where to start, what actions to take, how to organize your teams, and what to avoid.
Reduce Print-Related Spending
By Ken Weilerstein
Even amidst the pandemic and recession your organization may be spending hundreds of dollars per employee per year on printing. The good news is that our well-tested strategies can reduce your spending by 20% or more.
How to Cut Costs and What Not to Do
Reducing Costs: Step Zero – Organize and Prioritize
By Jay Pultz
The hardest part of cutting costs is getting started, especially for company insiders. Read how to make the four or five top decisions you’ll need to move ahead. This proven strategy will steer you through the tough decisions about project priorities, roles, and how to measure your results.
Before You Cut Costs, Understand Them
By Bill Kirwin
If you don’t plan and prioritize your spending reductions, you could end up wasting time–or worse–cut needed muscle and do harm. Follow a tried-and-tested method to pinpoint the right expenses, cut them, and keep them from reappearing elsewhere.
