Key Ways IT Leaders Can Cut Spend and Increase Productivity in 2024

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When I think about what we're spending, I also have to think about how exactly are we managing it. I ask our team three questions for an 'app rationalization' exercise:

"Are all of these applications necessary?"

"Do we need all of these different tools?"

"Are there ways that we could consolidate?"

SaaS Management tools are critical. There are so many great options, but Lumos is my current tool of choice. With Lumos, I could have insight into all the software our organization was using as well as the spend, all in one place. The total cost of software, spend per license, software categories, it's all there. This insight is critical as I make decisions that work for our environment, and this data is the first thing financial leaders look at. In addition to SaaS management, optimizing the way people work is key. Rather than expanding headcount, I typically turn to automation. That way people can self-serve and solve issues themselves rather than relying on IT for it all. So, it comes from both sides - optimizing the software and optimizing the team management.