Understanding how your business is spending money is essential if you want to be able to save money. In our previous blog post, we discussed how important it is to review both OPEX and CAPEX costs. Now we will go over the importance of reviewing discretionary and non-discretionary costs. Both discretionary and non-discretionary costs are vital to look over if you wish to help your company save money. Furthermore, understand how your company spends these expenditures will help your business in the future as well.
Discretionary and Non-discretionary Costs
When it comes to saving money, it is important that you review all expenditures your business has. Usually, discretionary costs are the first ones to get cut, however, we encourage you to dig deeper when cutting costs. Looking at non-discretionary costs, such as infrastructure. Looking towards usage, service, and consumption levels is vital to making sure you are able to save money and cut spending on your IT department.
Therefore, when cutting costs, make sure you inspect all your expenditures. It is vital to leave no stone unturned if you wish to truly cut costs. However, we understand that this can be quite difficult at times. Especially if you are unsure as to what is vital to the department on not.
How Hammett Technologies Can Help
We understand the difficulties many business owners face when dealing with their IT departments. It can be extremely difficult to determine where to cut costs and what to leave alone. However, with our help, you will never have to worry about that again. Hammett Technologies works with you to make sure you never have to worry about whether or not your business is wasting money on non-important items. Hammett Technologies walks with you to ensure that you understand all the ins and outs of how we are building your IT department.
