CIO: 4 Levers to Reduce Your IT Expenses

Talkspirit
11 Mars 2021
4
min.

Temps de lecture: 4 minutes

As CIO, you’re in charge of keeping IT spending in check. But, at some point, you may find yourself dealing with more IT expenses than your company—and budget—can realistically handle. 

No CIO wants to find themselves in a situation where their IT costs far exceed their available resources. But luckily, there are strategies you can use to reduce those IT expenses and get your budget back on track—without having to sacrifice efficiency or productivity.

But what, exactly, are those strategies? Let’s take a look at four levers you can use to reduce your IT expenses:

Track IT spending

You can’t reduce your IT expenses if you don’t know what, exactly, those expenses are. So, the first step towards getting your IT spending under control? Getting meticulous about tracking that spending.

Keep track of both your fixed and variable IT costs for a month. This includes any and all expenses related to IT within your organization, including things like personnel costs, monthly subscription fees, and the cost of keeping your networks and data secure.

Tracking your IT spending will give you a clear idea of where you’re starting from—and will lay the foundation for reducing IT expenses moving forward.

Look for redundancies

Once you’ve tracked all of your IT costs, it’s time to dig into the data and look for areas where you can reduce or eliminate costs. And a great place to start? Looking for redundancies.

Chances are, there are areas of your IT spending with significant overlap—which offers the opportunity to rationalize your applications, eliminate redundancies, and reduce your overall spending. For example, let’s say you’re paying for a website blocking tool to keep employees off of certain websites. But, after reviewing your subscriptions, you realize that your anti-malware tool also offers the functionality to block certain websites, allowing you to eliminate the website blocking tool—and reduce costs in the process.

You may also notice redundancies with your labor costs. For example, if you’re spending a significant portion of your budget on IT contractors, you may look to redistribute some of that work to your salaried employees—which would eliminate some of your contracting costs.

The point is, if you take a closer look at your IT spending, you’re likely to find at least one or two redundancies—and eliminating those redundancies can help to bring down your overall IT costs.

Consider upfront costs vs. long-term savings

When you’re reconfiguring your IT budget and trying to get below a certain threshold of spending, it can be easy to get caught up in reducing costs by any means necessary. But the truth is, sometimes, spending money in the short-term is the key to saving money in the long-term—and if you want to reduce your IT expenses in a meaningful and lasting way, you need to be willing to spend where it makes sense.

Also read: CIOs: what IT investments should you prioritize in 2021?

For example, many IT tools and platforms offer a discount when you pay for an annual subscription vs. paying month-to-month—so while your upfront cost will be higher, you’ll save on the total cost in the end. Or, let’s say you’re looking to hire a new IT specialist. While you may save on labor costs by hiring a more junior candidate, if you don’t hire someone with enough experience to navigate the role, you’ll end up paying more in the end—for example, in lost productivity, inefficiencies, or, in the worst case scenario, a potential security breach.

Invest in security training

According to a 2019 report, the average cost of a cyberattack on an enterprise is a whopping $1.1 million. That’s a pretty hefty IT-related expense—and if you want to avoid it, one of the best things you can do? Invest in training your team on how to keep cyberattacks at bay.

What kind of training you invest in will depend on your team, your company, and your IT structure. For example, if you manage a remote team, you might want to invest in training your team on how to keep their devices and networks safe while working from home. If your company is going through a period of rapid growth, you may consider hosting a company-wide IT training to get new employees up to speed on internal security systems, procedures, and protocols. 

Now, investing in security-related training is…well, an investment. But as mentioned, sometimes upfront spending translates to long-term savings—and, with $1.1 million in costs at stake, that’s definitely the case here. So don’t cut corners when it comes to training your team—and be willing to make the investment to ensure your team knows how to keep themselves, their devices, and your sensitive company information safe from cyberattacks.

Also read: [Expert Opinion] Cybersecurity Challenges for SMEs in 2021

Use these levers to reduce your IT expenses—and get your budget to a more manageable place

Excessive IT costs can be stressful—to you, as CIO; to your team; and to your organization as a whole. As CIO, it’s your job to keep costs at a manageable level. Not only will that help to keep your budget balanced, but keeping expenses low will help to ensure you have the resources you need to invest in your team, in your company, and in building the best, most effective IT structure possible. And now that you have these strategies? You have everything you need to do so.

*
* *

Are you looking to know more about CIOs’ main challenges? Read our white paper to find out:

Access White Paper

In our white paper “CIOs: Navigating the New Challenges of Hybrid Work”, you’ll discover: the 3 major challenges for CIOs in the era of hybrid work, concrete advice on how to accelerate your digital transformation, secure your workstations and improve the employee experience, as well as testimonials from 10 CIOs working in companies, administrations and associations.

Download



Author: Deanna deBara

Inscrivez-vous à notre newsletter
En vous inscrivant vous acceptez notre politique de confidentialité et consentez à recevoir des nouvelles de notre entreprise.
Envoyer
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
ALLER PLUS LOIN

Vous avez les ressources pour passer à l’action

20 Mai 2025
9
min.

Increasing Transparency in a Hierarchical Organization with Talkspirit: ORS Group’s Story

19 Mai 2025
3
min.

Beyond Implementation: Sustaining and Scaling Self-Management for Lasting Impact

16 Mai 2025
4
min.

The Self-Management Toolkit: Weaving People, Processes, and Platforms for Success

15 Mai 2025
6
min.

Beyond the Buzzwords: Why Today's Most Impactful Businesses Are Ditching Hierarchy

12 Mai 2025
6
min.

Animer la communauté d’utilisateurs d’un SIRH avec Talkspirit : témoignage du Club Smart RH

12 Mai 2025
10
min.

Collaborative Management Is Transforming How Companies Make Decisions

12 Mai 2025
20
min.

10 exemples d’organisations avec une culture d’entreprise inspirante

5 Mai 2025
8
min.

How Can You Improve Work-Life Balance for Your Employees?

Article
5 Mai 2025
10
min.

Qualification SecNumCloud : vers un cloud souverain et hautement sécurisé

28 Avril 2025
8
min.

Toxic Management: Know What It Is—and How to Deal with It

28 Avril 2025
20
min.

Les meilleurs outils de self-management pour votre organisation

21 Avril 2025
9
min.

Pourquoi adopter un processus de prise de décision collective dans votre organisation ?

21 Avril 2025
11
min.

How to Implement Agile Decision-Making in Your Team

14 Avril 2025
9
min.

Mise en place de l’autogestion chez Liip : un pari réussi grâce à Talkspirit

7 Avril 2025
12
min.

Implementing Self-Organization with Talkspirit: Inside Hypoport’s Journey

7 Avril 2025
8
min.

Opérer un changement de culture d’entreprise avec Talkspirit : le témoignage de Welser Profile

7 Avril 2025
8
min.

Agile Leadership: Bring Your Teams on Board in 7 Steps

31 Mars 2025
10
min.

Comment le management collaboratif transforme la prise de décision en entreprise

31 Mars 2025
8
min.

How Do You Become a Sustainable Company?

24 Mars 2025
7
min.

CSR Initiatives Your Company Should Implement: 23 Examples

17 Mars 2025
10
min.

Les 3 tendances clés du développement durable à suivre en 2025

17 Mars 2025
9
min.

Lean Management Implementation: How to Get Started?

10 Mars 2025
6
min.

3 Methods for Reducing Employee Turnover

10 Mars 2025
9
min.

Comment QoQa a réussi à mettre en place l'Holacratie avec Talkspirit

3 Mars 2025
11
min.

Mettre en place le self-management avec Talkspirit : témoignage de Great Place To Work

3 Mars 2025
8
min.

How Can I Measure My Company's Social and Environmental Impact?

25 Février 2025
10
min.

Qu’est-ce que la sociocratie ? Un guide complet pour les organisations agiles

24 Février 2025
7
min.

3 Sustainability Trends To Watch In 2025

17 Février 2025
10
min.

Management toxique : de quoi s’agit-il, et comment y faire face ?

17 Février 2025
10
min.

[Expert Opinion] How Can We Improve Diversity, Equity and Inclusion in the Workplace?

10 Février 2025
28
min.

Qu'est-ce que la méthode OKR ? Définition, avantages et exemples

10 Février 2025
9
min.

[Expert Opinion] How to Build Resilience in the Workplace?

10 Février 2025
30
min.

Holacratie : définition, concepts clés, avantages et limites

3 Février 2025
6
min.

Improving Nonprofit Governance with Talkspirit: A Testimonial from the French Association of Diabetics

3 Février 2025
10
min.

Qu'est-ce que le self-management ?

30 Janvier 2025
10
min.

Le guide ultime pour faire des réunions de triage efficaces (+ un modèle d'ordre du jour inclus)

30 Janvier 2025
9
min.

How to Train Your Managers to be Better Leaders

27 Janvier 2025
6
min.

Qu'est-ce que la gouvernance partagée ?

27 Janvier 2025
8
min.

Using Biomimicry as a Lever for Business Innovation and Resilience

24 Janvier 2025
7
min.

Top 10 Technology Trends in 2025, According to Gartner

22 Janvier 2025
5
min.

Ignite Potential: A New Chapter for Talkspirit

7 Janvier 2025
9
min.

Managers : 10 bonnes résolutions à prendre en 2025

2 Janvier 2025
7
min.

Top HR Trends in 2025, According to Gartner

26 Décembre 2024
6
min.

5 Strategies That Can Help Improve Employee Autonomy at Work

19 Décembre 2024
6
min.

HR: Watch Out for These Employee Burnout Signs

17 Décembre 2024
8
min.

[Parole d’expert] Comment cultiver la résilience en entreprise ?

12 Décembre 2024
min.

[Expert Opinion] Elmy’s Journey to Becoming a Mission-Driven Company

10 Décembre 2024
8
min.

23 exemples d’actions RSE à lancer dans votre entreprise

9 Décembre 2024
8
min.

Harnessing the Power of Agile Practices in Knowledge Management

9 Décembre 2024
5
min.

Regenerative Business: the Trend Taking Companies by Storm

5 Décembre 2024
10
min.

Why Boreout at Work is More Dangerous than Burnout

5 Décembre 2024
6
min.

How can companies combine digital sobriety with well-being at work?

3 Décembre 2024
6
min.

Améliorer la gouvernance associative avec Talkspirit : témoignage de la Fédération Française des Diabétiques

29 Novembre 2024
7
min.

Agile Methodology: What Are the Pros and Cons for Businesses?

28 Novembre 2024
6
min.

ESG and CSR: The Winning Duo for a Responsible Business Strategy

26 Novembre 2024
8
min.

Les 10 tendances technologiques de 2025, selon Gartner

21 Novembre 2024
7
min.

How Can I Set Up My Own Continuous Improvement Plan?

20 Novembre 2024
min.

Adhocracy: Definition and Benefits

19 Novembre 2024
8
min.

Les tendances RH de 2025, d'après Gartner

19 Novembre 2024
8
min.

Creating OKRs Aligned with Your ESG Goals: a Step-by-Step Guide

14 Novembre 2024
7
min.

Putting Biomimicry to Work in the Workplace: 10 Examples

13 Novembre 2024
8
min.

Implementing Accessibility in the Workplace: Key Strategies and Best Practices

13 Novembre 2024
6
min.

8 Steps to Create a Collective Intelligence Framework that Speeds Up Decision-making

12 Novembre 2024
7
min.

Comment mesurer l’impact social et environnemental d’une entreprise ?

7 Novembre 2024
8
min.

Using OKR for Project Management: Do’s and Don’ts

7 Novembre 2024
7
min.

Management agile : 7 clés pour embarquer vos équipes

7 Novembre 2024
5
min.

Meta Meltdown: What Can We Learn from the Workplace Closure?

6 Novembre 2024
8
min.

How Can You Promote Sustainable AI in the Workplace?

4 Novembre 2024
5
min.

Collaborative Platform: Definition and Challenges

3 Novembre 2024
5
min.

20 collaborative tools to improve employee productivity

31 Octobre 2024
6
min.

The 7 Best HR Podcasts to Stay Ahead of the Game

29 Octobre 2024
8
min.

Parole d’expert : Comment améliorer l’équité, la diversité et l’inclusion en entreprise ?

28 Octobre 2024
6
min.

7 Best Practices for Leveraging Emotional Intelligence as a Leadership Tool

23 Octobre 2024
7
min.

RH : Les symptômes de burnout auxquels il faut être attentif

17 Octobre 2024
7
min.

Améliorer l’autonomie au travail, c’est possible avec ces 5 leviers

10 Octobre 2024
5
min.

Do Purpose-Driven Companies Outperform Traditional Ones?

9 Octobre 2024
10
min.

Best Leadership Practices for Boosting Employee Engagement

8 Octobre 2024
7
min.

[Parole d’expert] Comment devenir une entreprise à mission ?

8 Octobre 2024
6
min.

Turn your employees into ambassadors for your enterprise social network!

1 Octobre 2024
8
min.

How Does AI Impact Employees Within an Organization?

1 Octobre 2024
6
min.

How can AI shape the future of self-management: insights from the academic literature

1 Octobre 2024
7
min.

10 exemples d’utilisation du biomimétisme en entreprise

Article
1 Octobre 2024
6
min.

Gartner’s 10 technology trends for 2024

30 Septembre 2024
9
min.

What Participative Decision-Making Can Bring to Your Organization

30 Septembre 2024
8
min.

How the Next Generation Company Is Redefining the Future of Work

30 Septembre 2024
6
min.

How Do You Tactfully Handle a Micromanaging Boss ?

30 Septembre 2024
8
min.

How Do You Give Constructive Feedback to Your Peers in a Self-Managing Organization?

30 Septembre 2024
8
min.

How Consent-Based Decision-Making Works

30 Septembre 2024
8
min.

From Corporate Hierarchy to Agility: How to Create Engaged and High-Performing Teams?

30 Septembre 2024
7
min.

Driving Culture Change with Holaspirit: Insights from Welser Profile

26 Septembre 2024
8
min.

Comment mettre en place une démarche d’amélioration continue en entreprise ?

26 Septembre 2024
6
min.

5 Interesting Ways AI Can Transform Knowledge Management Processes

17 Septembre 2024
7
min.

Critères ESG : pourquoi et comment les intégrer dans votre stratégie RSE ?

10 Septembre 2024
10
min.

How Can You Improve Organizational Agility in the Workplace?

10 Septembre 2024
5
min.

L’entreprise à impact : LA réponse aux défis du développement durable

9 Septembre 2024
9
min.

How to Improve Cross-functional Team Collaboration

5 Septembre 2024
6
min.

[Expert Opinion] Amicio’s Best Practices for Agile and Effective collaboration

3 Septembre 2024
6
min.

Les entreprises à mission sont-elles plus performantes que les entreprises traditionnelles ?

29 Août 2024
7
min.

Raison d’être, vision, mission : de quoi parle-t-on ?

29 Août 2024
7
min.

Performance Management: 4 Keys to Building Effective Teams