© Copyright Acquisition International 2025 - All Rights Reserved.

Article Image - How Your IT Department Can Save On IT Costs
Posted 24th November 2021

How Your IT Department Can Save On IT Costs

Businesses are often overwhelmed by IT costs since reliable technological infrastructure and its maintenance are expensive. And with the current pandemic crisis, companies have examined and replanned their budget to reduce, delay, or renegotiate for any potential savings.

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

How Your IT Department Can Save On IT Costs
IT Department

Businesses are often overwhelmed by IT costs since reliable technological infrastructure and its maintenance are expensive. And with the current pandemic crisis, companies have examined and replanned their budget to reduce, delay, or renegotiate for any potential savings.

To fund business-critical initiatives to compensate for the months of little to no lucrative opportunities, business owners are searching beyond the general ledgers and have started looking at one of their costliest departments for any opportunity to reduce cost.

Keep reading to find out how to reduce the expenses in your IT department.

 

1. Use Managed Services to Streamline Costs

Some businesses can benefit from using a managed service provider (MSP) for streamlining and reducing IT expenses. This is particularly true when a company doesn’t have the specialized workforce they need in areas such as network security or data storage.

Using an MSP is a cost-effective option when a business only has short-term work to warrant having an IT specialist manage the job part-time. You end up with cost savings from the reduction of manpower and skills while getting access to round-the-clock support and monitoring and a fully equipped team of IT professionals to manage your technology infrastructure.

If you’re looking for managed IT services in Chicago or your current location, the easiest way to find them is to browse online. There are experienced, trustworthy IT support companies out there offering competitive prices without hidden fees.

 

2. Update Your Technology

If cost reduction is a long-term goal for your IT department and business, then you can’t simply slash cost where you see fit and call it a day. You should take a look at your current spending, track trends, and determine how you can run your operations, data, and infrastructure more efficiently.

Part of this is to determine any major inefficient technology within your IT department. This means replacing slow, outdated devices that consume time. It’s common for businesses to run on a few-years-old network infrastructure that still works but not as efficient as it should be.

Although the price of replacing your outdated technology seems high, you’ll find that it’s more cost-effective to replace old devices with new, higher-performing equipment in the long term.

 

3. Cut What You Do Not Need

Unneeded services such as surplus phone lines, web hosting, or underutilized T1 lines should be removed. Meanwhile, underutilized servers that eat up energy costs don’t benefit your bottom line, so it only makes sense to eliminate them.

Most businesses and IT professionals waste their budget on software and hardware they don’t use. So check your software licenses and cut down on those you don’t need. Also, make informed decisions on what to keep when you have two or more software and systems doing the same job without any justifiable reason.

 

4. Make the Switch to the Cloud

The cloud is already a big deal and is expected to keep growing in the future. So why are businesses jumping on the cloud bandwagon? There’s a variety of reasons, but most of it is because of the cost savings.

Moving to the cloud can help reduce your IT expenses and controlling costs. You don’t have to spend on replacing or maintaining hardware for storing data. What’s more, cloud services provide you with a variety of plan options according to your need. You can adjust the cost and usage, paying as you go and as you scale your business.

 

5. Reduce Turnover

Employee turnover can cost businesses significantly. Companies can spend 6–9 months of a departing employee’s salary to recruit and train a replacement.

That’s why business owners and IT managers are taking steps to reduce turnover in their departments. There are several ways to do this.

For one, improving the company’s culture can make it a more appealing place to work. Promoting work-life balance, offering access to training and opportunities for advancement, or simply showing your team that you appreciate their efforts are enough to increase employee engagement and satisfaction. This makes your IT employees less likely to leave.

 

Conclusion

People outside of IT often view this department as a costly area. IT managers and business owners usually face the difficult task of reducing IT costs to fit their budget. IT teams need to balance between keeping a strict budget and keeping operations running smoothly.

So follow the above tips to help reduce IT expenses and overall expenditures. Regardless of how big or small the saving is, it’ll eventually add up and benefit you and your enterprise in the long run.

Categories: News, Strategy


You Might Also Like
Read Full PostRead - Eye Icon
Essential Tips for Affiliate Marketers
News
24/06/2024Essential Tips for Affiliate Marketers

Partnership purpose between site owners and companies providing affiliate marketing services is to increase content views and profits on the Internet. Products are promoted using unique links. As a result, the cooperation turns out to be mutually beneficial. A

Read Full PostRead - Eye Icon
Acquisition of Barclays’ Trust Business Completes
M&A
18/01/2016Acquisition of Barclays’ Trust Business Completes

An independent investor group, led by the Sarikhani and Nielsen families, today announced the completion of the acquisition of a majority shareholding in Barclays’ trust and fiduciary business.

Read Full PostRead - Eye Icon
Wirtualna Polska Holding IPO
Innovation
27/05/2015Wirtualna Polska Holding IPO

Wirtualna Polska Holding IPO

Read Full PostRead - Eye Icon
Business Leaders of 2016
Leadership
01/07/2016Business Leaders of 2016

Regal Food Products Group Plc was established in the heart of Yorkshire in 2010 to cater for the growing needs of the South Asian consumer.

Read Full PostRead - Eye Icon
Banking on Success
Finance
26/01/2017Banking on Success

Founded in 1899, and headquartered in Nicosia, Cyprus, Bank of Cyprus is today the leading banking and financial services group in Cyprus, with significant market shares across all businesses. Today, Marios Skandalis is the Director of the Group Compliance Div

Read Full PostRead - Eye Icon
Choosing the Right Location for Your Law Firm
News
26/09/2022Choosing the Right Location for Your Law Firm

While you may choose to work from home due to financial constraints, it may not be a viable option in the long term since you need to meet with clients. You should set up an office for your law firm right from the start. Sharing office space may also reduce th

Read Full PostRead - Eye Icon
The Surprising Secret to Improving Employee Engagement
Leadership
20/03/2019The Surprising Secret to Improving Employee Engagement

Eighteen years ago, the Gallup corporation did some research on a hot “new” topic - employee engagement - and reported some distressing numbers.

Read Full PostRead - Eye Icon
Transcosmos Acquires 100% Ownership of Social Gear, a Social Media Operational Support Company
M&A
20/05/2016Transcosmos Acquires 100% Ownership of Social Gear, a Social Media Operational Support Company

transcosmos inc. has made additional investment in SOCIAL GEAR PTE LTD (Headquarters: Singapore; CEO: Shunsuke Sato; hereafter, Social Gear), a company which provides social media operational support, and acquired 100% ownership of the company.

Read Full PostRead - Eye Icon
Giving A Personal Touch to Clinical Trials
Innovation
01/03/2018Giving A Personal Touch to Clinical Trials

GlobalCare Clinical Trials brings over 100 years of experience in the clinical trials and home healthcare industries supporting over 400 studies in over 50 countries by effectively delivering high quality and convenient clinical trial services in the home or a



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have 14 unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow