Inflation is expected to hit 11% or more, but what can be done to manage or even reduce the cost of tech products?
Here are some initial steps you could take:
Prioritise your projects
Review your IT project plans for the year and determine which are of highest importance. Ideally, this would be a simple case of weighing the cost against the projected ROI, but i’ts likely some projects will have other factors.
Audit and consolidate
Understand how and where individual hardware and software products overlap. You will find some might not need replacing at all. In addition, those that overlap significantly might mean you could remove one of them altogether. Audit the usage of software to identify any seats or virtual server CPUs that you don’t need. Lastly, if the cloud is being used for infrastructure or platform services, this is the pefect time to review and look for service provider savings.
Extend replacement cycles
Look to extend cycles on some hardware products. Think about repairs rather than replacements. Can laptops be upgraded with new components?
Assess market prices
When prices start rising you need to compare the increases with similar items from other suppliers to identify differences. It is highly likely some suppliers will pass on more costs than others.
Use a third party
The price you pay is not the whole picture and the industry is resistant to requests for cost transparency. Find a third party that can help to remove these barriers and ensure that you are not paying excessive margins to your suppliers.
We hope these simple tips prove to be helpful and that you can implement at least some of them.
P.S.
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