For all firms, a disruption of services can occur at any time due to human error, malware attacks, natural disasters or equipment failure. Waiting for recovery often isn’t an option because downtime could cost you more; loss of revenue, customers and uptime could destroy your business or have a major negative impact on your brand image.
With this in mind, many firms are looking for new ways of cutting down on cost and reorganizing their workforce during disruptions. When it comes to cutting down on IT cost, the focus is usually on reducing the cost of internal staffing and external contractors.
At the same time, there will be a demand for sophisticated digital services, which need high quality IT talents. Therefore, organizations will need to think more strategically on how to manage cost through disruption.
Some of the ways organizations can manage their IT expenses through disruption includes the following.
IT cost optimization:
IT cost optimization goes beyond just cutting down on cost; rather, it involves optimizing expenses by focusing on business goals and maximizing business value. To do this, you must start by analysing critical IT functions and taking note of activities that should be given utmost priority and cutting down on services your firm can do without.
Prioritize IT initiatives based on business goals:
Prioritizing your IT initiative to focus on your business goal does not only allow your organization to meet short and long term goals, without sacrificing long term objectives, but it also helps you increase productivity. To prioritize your business goals, you must start by understanding how the purpose of your organization can be best achieved and the strategic vision of your firm. Think about the right people to execute a project and the outcomes that will be used to measure performance.
Use strategy to determine which IT initiatives are worth the resources:
Based on your business goals, you should be able to map out the IT initiatives that must be given urgent attention. You should know what projects are the most strategic and those that align clearly with your vision, purpose and priorities.
Explore new financing options available for IT initiatives:
You should have new ways of funding your IT expenses. Your IT funding will be largely determined by your goals and priorities; these funds will help you plan ahead of time for future occurrence. Consider acquiring cyber insurance to help you cover the cost of damages in the event of catastrophic IT failure.
KLH can help
Disruption and downtimes are inevitable in all businesses, and that is why planning ahead is the best defence. If you need the services of a firm that can help you understand and determine your tolerance during downtime or reduce it altogether, contact KLH at 952-258-8200. KLH will help you review your disaster recovery plan and design a backup plan that fits your needs.