Telecom Expense Management and Call Accounting Technology!
COVID Cut Your Budget by 7.3%: What You Need to Do
What You Need to Do If you've read the latest Gartner report, you know that IT spending is down this year by 7.3%. Looking at the categories, the most dramatic budget cuts are being felt in devices, down by 16.1% and data systems, down by 10.3%.
Why is this? As you can guess it's COVID-19 related, as are so many issues and challenges these days. It is, according to Gartner VP of Research, John-David Lovelock a "reaction to revenue uncertainty."Looks like the rocky revenue road will continue at least in the short term.
What does this mean for IT departments? It means that smart IT managers will look for ways to accomplish three things:
- Control expenses
- You may think you’ve already nailed this. But a second look might make sense at this point. Are you paying invoices that might have errors? Are you paying for old inventory? Could your old contracts use some re-negotiating? These are areas where thousands of dollars can be saved. Now is a good time to put more focus on them.
- Sharpen up plans for the future
- Are you prepared for an eventual return to a “new normal”. What will that look like? Chances are much different than pre-COVID. Are you prepared for more remote workers? What new technologies might make sense over the next few years? Are you ready to hire and train a new generation of IT talent?
- Demonstrate value to the C-suite
- This has always been a challenge for IT/Telecom managers. But it may become even more critical in the post-COVID environment where senior management will look for those team members who can add significant value to their strategic planning moving forward. You will want to demonstrate that you are not only running a tight ship, but that you have solid ideas for the use of technology in your organization to optimize the quality of applications and usefulness to employees.
These are challenges and now is the time to get organized. The last thing you want to do is pull the blanket over your team and wait this out. Moving past the twists and turns of COVID requires all hands on deck, with a plan to make better use of what you have today and innovate when budgets loosen up again.
We're here to help, by the way. We work with hundreds of companies on a regular basis to help them optimize their technologies and manage expenses more effectively. Contact us, we'll be happy to share our thoughts and experience with you and your team. Let's get through this together and come out stronger on the other end!About TeleManagement Technologies, Inc.
TeleManagement Technologies, Incorporated (TTI) provides Telecom Expense Management and Call Accounting solutions designed to effectively track, integrate, manage and protect an organization's information technology resources. TTI's TEM solution, WinBill®, has developed a reputation for an impressive ROI, with clients reporting savings of 300% or more! WinCall® Call Accounting tracks all domestic and international locations regardless of PBX type (analog, digital, VoIP) to facilitate internal bill back, identify PBX toll fraud and increase employee productivity. Extensive reporting capabilities are also included for planning purposes. TTI's experienced, responsive support team helps keep CFOs and IT/Telecom departments in total control of their technology expenses.
Since 1987, TTI has been designing software products that provide a better solution to managing corporate technology, inventory, expenses and services. For more information, visit www.telmantec.com.
Since 1987, TTI has been designing software products that provide a better solution to managing corporate technology, inventory, expenses and services. For more information, visit www.telmantec.com.
Check out other recent posts by TTI
Another year is under your belt as you look forward to a new one full of its own challenges and opportunities. It's a good time to take stock of this year … what worked, what didn't work and what adjustments are needed to make the new year more produ...
What's on tap for CIOs and IT managers in 2025? It's shaping up to be a year to exert more control over their digital transformation roadmaps as they build out practical uses for innovative technologies such as generative AI. It has taken a few years...
These are interesting times for CIOs and their IT departments. While budgets are forecasted to rise modestly, high interest rates, persistent inflation, and a volatile stock market create a challenging environment for IT leaders seeking to meet thei...
For CIOs and IT managers there's a lot more to manage these days. We have long stretched beyond the days of maintaining "dial tone" and are now in an era where strategic contributions are not only needed but expected by senior management, under pres...
We often hear from frustrated IT managers who bear the scars of dealing with large vendors. Being ignored in favor of other clients, waiting days for a callback, the list goes on. That's not to say that all large vendors don't care about their custom...
For most IT departments, there are more projects scheduled than there is money to pay for them. Technology innovations are coming at us fast and furious these days and end users are pushing for the latest and greatest. So it's on IT managers to esta...
