Finance Slideshow: 10 Ways CIOs Can Better Control Costs
By Don Reisinger | Posted 07-26-2010
10 Ways CIOs Can Better Control Costs
Say Goodbye to Outdated Legacy ProductsOne of the biggest mistakes CIOs make is that they hold on to outdated legacy products. In some cases, they simply don't know that those legacy products are still being used. In others, they believe they are more important than they really are. Your employees might prefer the old stuff, but over the long-term, future-proofing the office should be the first goal.
As a shaky recovery tries desperately to hang on, CIOs are being asked by management to find ways to put a leash on costs. The fear is that the economy will turn sour again, causing a double-dip recession that could have a profound effect on company bottom lines. In fact, Gartner is strongly advising CIOs to prepare now for the next economic downturn. For CIOs, cutting costs is a dangerous game. On one hand, it is quite easy to remove expenses from the books. You can remove applications, ditch hardware, or -- the last resort -- lay off employees. But none of these cost-savings methods are preferred. All will effect productivity, and could potentially have a negative impact on your company's net income. With that in mind, CIOs need to consider the best ways of controlling costs while simultaneously maintaining, or even increasing, profitability. In our competitive worldwide marketplace, that is no mean feat. To help you along, we have compiled the 10 best techniques to control costs through technology initiatives that can also boost revenues.