When it comes to saving money, it is important that you focus your attention on the right areas. Last time, we spoke about how taking a holistic approach, covering both operational and capital expenditures were essential to making sure your business is efficiently saving money. However, at times, it can be difficult to decide where one’s attention should be focused when downsizing.
Focusing on Rapid – Reductions
Rapid reduction implies the idea of rapidly reducing the spending and cost of your IT department. In order to do this, one must refocus their attention away from already spent money. Instead, focus your attention towards areas that can be immediately downsized, such as hardware or software licenses. Downsizing hardware and software can result in immediate savings, allowing your company more breathing room.
However, while it is important to focus on rapid reductions areas, this does not mean to ignore sunk costs completely. As we said earlier, taking a holistic approach to saving money is the best course of action. When reviewing the IT department, do not leave any stone unturned and review all possible avenues to save money. Therefore, even those the money has already been spent, ensure that you still review these sunk costs, inspecting them for possible termination in the future.
Hammett Technologies Helps Your Business Reduce and Reuse
Hammett Technologies understand how to help your business save money. We reuse your old hardware, upgrading and fixing issues to bring them up to date. We review and revise how we work with your company, ensuring you know exactly what you are paying for, and work with you to make sure you get the most cost-efficient payment plans. Through this, we strive to ensure that your company is able to stay up to date and secure, without breaking the bank.