A global research study released shows 54% of IT decision-makers identify their biggest challenge as IT cost optimization. IT cost optimization, which is the practice of controlling and reducing costs while maximizing business value within an IT estate, can be difficult and with the growing complexity of technology, the challenge isn’t getting any easier.
What was the methodology of the research?
The research provides insights into IT decision-makers and their views on technology, cloud, and innovation. The study was conducted by Sapio Research, in partnership with Crayon, an IT services and innovation company based in Norway. The research is based on 2,050 IT decision-makers at large organizations (200+ employees) in 19 different countries.
“The study shows that IT cost control is business-critical, especially in this inflationary environment. Firms need IT and software, but it’s vital that it’s used in a way that innovates, creates more efficiency, and reduces costs,” said Crayon CEO Melissa Mulholland.
What were the findings of the research?
The study found that over a third of firms lack knowledge regarding how to optimize their cloud spending and another third reported a lack of time to search for the best deals. Firms face an uphill battle trying to manage IT’s dynamic spending, given how hard it is to deal with the turnover of IT staff. The issues highlighted are prevalent in small or medium-sized firms.
While most businesses are taking steps toward IT cost optimization, the study suggests that those who have asked for external help have made more progress. Those using external consultants to help negotiate prices were able to save 24% on the cost of their licenses.
Visit Sapio Research to access the report.
