Across the globe, GDP forecasts continue to hover below 1% for many advanced economies and the cost of borrowing has increased in a bid to tame inflationary pressure. Many market sectors are forecasting earnings to slow down, and consequently, market leaders and laggards alike are incorporating cost-cutting initiatives in an effort to improve operating margin and earnings per share. In these circumstances – when consumer demand is lower and sales volumes have been reduced – executives are looking to IT leaders to find opportunities to optimize costs. No stranger to the task of cost optimization, IT leaders have several cost optimization tools in their toolbox. In this paper, we will explore them in three broad categories:
Despite this focus on cost optimization, it is also worth noting that CEOs want to ensure that investment opportunities can continue for fewer (but more impactful) initiatives – projects that will deliver growth for the business once the economy stabilizes.
