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Business + IT Insights

5 Ways to Reign in Your IT Costs

Posted by Dave Lazor on Mon, Aug 31, 2020


Save on your IT spend

Since the onset of COVID-19, the world has become a truly virtual one. One that requires fast, secure, and cost-effective IT like never before. Because the demand for IT and virtual environments has skyrocketed, it’s important to find ways to save money, even more so since COVID-19 has affected the bottom line of most businesses.  

There are a few key areas that are often overlooked when reviewing how much your business is spending on IT and we recommend looking at first to reduce costs:

Early Renewals

Customer experience for any company is paramount and Internet Service Providers (ISP’s) are no different. They are always working to improve which can mean faster internet and more bells and whistles for the same cost that you received a couple of years ago. Most business ISP’s have multi-year contracts and a great place to start saving is to negotiate reduced costs or even cash incentives for early renewals.

Storage

Many companies have more cloud storage than they need. The problem is, most of the storage is being used by data that is no longer needed, outdated, or simply just eating up the bottom line. Taking time now to go through your company’s cloud storage files will be worth it in the long run. By purging and getting rid of data you no longer need, you’ll free up space in your cloud storage which will bring down your monthly subscription costs.

Even something as simple as moving the older, purgeable data to a cheaper cloud backup solution will be cost-saving for your business.

Limiting Space for Users

Another cost-effective practice is to limit the amount of data that each user can save in either their emails or on their computer. This will reduce how much data you have to back up and has the added bonus of getting your team to implement better digital house-keeping practices. Ultimately, and simply, this will eliminate the amount of cloud storage your business needs.

Application Licenses

When downsizing, or even just trying to save on the bottom line, businesses often forget one important thing: application licenses. They find themselves paying for more licenses than they’re actually using or even need. Reviewing the licenses currently paid for and held by your company will ensure that what’s being paid for is actually being used. Monthly subscription services can and do add up quickly. Every application package has different subscription and services levels, and it’s important to be sure that your company is paying for only what you need.

Redundancy

Reducing redundancy among your software and applications is an often overlooked way to save.  Some companies end up having both Zoom and Microsoft Teams with different departments using different software. Looking at where the redundancies might be within your software and applications your company is using is not only one of the best ways to support your team but good for business.

IT is essential for your business to run but it doesn’t need to break the bank. These straightforward actions are a great place to start when looking at ways to reduce your runaway business’ IT costs.

Tags: IT Strategy, IT Budget

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