Cost & Budget Management

Cost & Budget Management
What are the top 3 IT budgeting mistakes you see leaders making?

Top Answer : Many IT leaders, particularly recently promoted ones; often fail to account for human capital forecast modeling. The other big item is that too often people fail to appreciate the impact of when their various contracts end/renew. Driving consolidation on contract co-terming can be a massive control lever for folk. Often times, it can give an organization a great set of checkpoints to review existing software compared to the roadmap of needs and spend.

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Will your organization change compensation for a distributed workforce?

Top Answer : We put in a policy, where salaries could be adjusted if they move to another state, although, I haven't had anyone actually decide to do that. It will be interesting, as this drags on, if that becomes something some people want to do. But I think most of my team is looking forward to being able to come into the office. Maybe not every day, but at least a couple of days a week.

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Hospitals lost a lot of revenue due to Covid. How can IT play a role in helping to bring back revenue this year?

Top Answer : IT is in the driver’s seat to help with revenue as much as any other business unit. IT can lead the effort by exploring and working with the business to help implement new marvels in technology that can reduce human intervention required or remove manual workflows, which ultimately gives valuable time back to our staff. We’ve already seen this in action by utilizing RPA - this is just one example of how IT can help with revenues.  There's a lot of opportunities that are there. And so it's how we provide business value at the end of the day. It's how we make changes locally in our hospital from procuring devices, to consulting on solutions - and ultimately becoming experts in how the business is run. It's very simple to take a step back and just focus on the operational components of IT, but if we become proactive, communicate and round with our business leaders we can then truly help them reengineer processes.

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Is expense management your top priority in 2021?

Top Answer :

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What's the business case for SD-WAN? What do digital leaders want to see from vendors?

As a CIO or CTO, how do you balance your desire to deliver the very best application (which might be quite expensive), with the business' budget constraints?

Top Answer : The matter of the fact is that ROI is a very important part of any implementation. That being said, there may be some leverage given for some good to have features. CIO must have holistic viewpoint and objectively decide the best (does not mean the very best software but the software which will be the best buy for the company) option for the company.  We have at times procured state of the art solutions, only to use 20-30% of its functionalities as that is all needed to meet organization's requirement.

SaaS Management PlatformsSaaS Management Platforms

Are IT leaders turning to SaaS Management Platforms to track SaaS usage and spend across the organization?

Pulse Flash Read: SaaS on SaaS Do you ever find yourself feeling overwhelmed by just how many different SaaS vendors you’re working with across the enterprise? For many, that can feel like a pretty fat address book to turn to when something isn’t right. And when those budgets are squeezed by all those auto-renewing subscription fees, how do you even begin to figure out which you can let go and what is absolutely necessary?  If this sounds familiar, you’re not alone. The Pulse community posts are full of people wondering if there might just be one SaaS to rule them all, especially for SMEs and startups just getting going. It turns out there’s a growing number of solutions. The one thing you can count on in the world of SaaS is that somewhere out there someone has seen a problem and made more SaaS to fix it. And that’s where the meta SaaS-as-a-Service concept comes in, though, as is also the case with SaaS, there’s a bunch of new acronyms to figure out. SaaS Management Platforms (SMPs) are the focus here, but we’ll give a quick overview of the other concepts that overlap with or have been swallowed up by modern SMPs. SMPs differ from SAMs (Software Asset Management) in that SaaS by definition is generally taking care of the software for you, that’s why you’ve partnered with a vendor for that product. SAM covers all software though, so that could still cover SaaS in terms of overall software budget management. SMPs have also largely superseded the role of the Cloud Access Security Broker (CASB), by offering security oversight within their unique platform. You can read more about the overlap between these acronyms both on BetterCloud and Zylo, themselves SMPs. In general, SMPs let users see the bigger picture of their app ecosystem. Centralized dashboards enable app visualization, let users grant and manage access, and track spending. The intelligent automation of these processes means that time and costs are saved tracking down unused apps and wasted licence renewals, which all feeds back into that bottom line. SMPs enable IT to regain centralized control over their organization's app ecosystem, functioning as one overarching meta-SaaS that rules them all. The rise of SaaS means that IT execs can, according to Gartner, reposition themselves as managers of all those apps, how they’re being used and expensed, rather than managing the development and performance of the products themselves. SMPs, it seems, are the key to navigating that transition to cloud totality, and keeping IT as a central part of the process. Some of the SMPs we’ve seen mentioned in the Pulse community include: Zylo, Intello, Productiv, Spot and the aforementioned BetterCloud, who’ve invented their own version of SMP with SaaSOps: ‘centralized and automated operations’ of SaaS discovery, management and security. (Which sounds a lot like a SMP to be honest.) A new SMPlayer in the field is OneTool, which functions like a SaaS marketplace where the USP is the ability to search for new SaaS by the tool required, flipping the usual search process by returning results based on what users need rather than by best-in-class categories (read more here on why categories suck for B2B buying). What’s your preferred SMP/SaaSOps vendor?

Top Answer : would love your insights here since you know multiple products so well.