& Cost Efficiency
IT Finance and Cost Efficiency
IT Financial Management and Cost Efficiency is often not given the priority and focus it should be given. Technical IT Managers are daunted by managing finances and consider the production of monthly financial reporting as meeting financial governance. Many organisations with legacy and extensive estates have increased overheads and are finding it hard to compete against lean and agile start-ups. Likewise, organisations deploying into the Cloud with charges based on demand and capacity are being hit with higher than expected costs. iCore have proven experience of driving out IT costs to meet your cost challenge. We can amend your IT financial governance to have a cost reduction focus. We can implement short-term cost savings and/or identify and instigate cost saving initiatives to achieve strategic cost reduction.
Are you providing your business with maximum business value?
What are your challenges?
The financial challenges faced by IT are escalating. Below are some of the challenges that iCore have helped to resolve:
- Executives have set the IT department (and other departments) a cost challenge
- IT don’t have the time/resource or experience to deliver cost savings
- Dealing with the day-to-day operation is the priority, not cost reduction
- Driving Service Management, Operations, Finance, Procurement and Project management together in one consolidated approach to cost reduction is very difficult
- Our Cloud costs are not under control, much higher than budget and costs have shifted from CAPEX to OPEX
- IT want to do more for less, the business want the same or better service for less cost
- We have already reduced costs, we need a different perspective to achieve further cost savings
- Projects are increasing my OPEX whilst my budget is decreasing
- IT Budgets are not accurate due to the high volume of change
How can iCore help you?
Cost reduction is usually a combination of achieving both tactical (short-term) and strategic (long-term) cost reduction. The reduction will be greater when it is a multi-departmental (including Business units/Customers) approach with alignment to underpinning strategies. iCore have proven experience in managing cost reduction projects, providing cost reduction expertise and delivering reduced costs.
iCore, working with your finance department, can get your IT finances under control and move the focus towards value for money and cost reduction. We can implement and embed the ownership, rigor and control required in a modern, fast moving IT department.
We can design and build a cost model that provides senior managers and executives with the information needed to better understand service costs. This will allow them to identify component costs and cost trends enabling them to act swiftly to increasing costs and where to target cost reductions.
We can compare your costs against the market to identify where you may be paying above the market average and also highlight where you are already achieving good value for money.
- Delivery of agreed and achievable cost challenges
- Internal resource able to concentrate on business as usual
- All departments working together to deliver cost reductions
- IT financial governance implemented and embedded with a cost reduction focus
- New technology costs under control
- Long term strategic cost reduction initiatives started and/or identified
- Greater understanding of costs
- Cost Model created
- Costs compared against the market
- Better value of services to the business/customers