Optimize IT Costs
- Telecom
- Cloud Services
- SaaS Providers
- Software
- Cyber Security
- End User Equipment
- Internet
- Network
- Data Storage
- Infrastructure
- IoT
- Insourced or outsourced IT labor.
"Businesses overpay for more than 75% of their IT purchases" - NPI
Technology Overspending occurs primarily for these reasons:
- Lack of planning
- Lack of strategic oversight
- Poor vendor selection process
- Failing to sufficiently negotiate
- Failing to consider the full TCO for maintenance, licenses, training, & required upgrades
Keeping up with the latest tech is necessary to stay on top of your competitors. However, overspending on technology does not guarantee that it will deliver sufficient ROI. Apart from the technology itself, you might also have to invest in training, server administrators, and additional personnel to manage all of your new tech, which can all contribute to its price tag.
Avoid buying new technology without doing your research first. Before you buy a new piece of tech, you must assess its ability to give you a good ROI, not just its inherent benefits to your business. Moreover, it is necessary to determine the additional costs of buying new tech, such as the ones mentioned above.
How We Can Help
As your Fractional CIO, we can:
- Perform spend analysis on your current technology to understand where your money is being spent in partnership with your CFO or financial management team.
- Help align the business to the technology it needs
- Assist the business in deciding on a technology refresh cycle
- Make sure the business understands its Total Cost of Ownership (TCO) & Return on Investment (ROI) on its purchases
- Ensure appropriate vendor selection & negotiation, then provide vendor management as the company’s direct point of contact for technology purchasing.
White Clay Technology has years of experience negotiating, working with, and managing vendors. We have saved our clients millions of dollars in IT spending. Let us see how we can help you.