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Technology Cost Transformation
Technology Cost Transformation facilitates the identification, classification, reporting and ultimately the optimisation of technology costs; allowing enterprises to achieve and maintain cost competitiveness.
Technology cost management is a discipline which aims to ensure efficiency, agility, and competitiveness of the organisation, leading to cost frameworks which support Business growth and Risk appetite. ‘Winning firms’ will have optimised the supply side of technology costs, demonstrated the value of technology to stakeholders and have achieved symbiosis between technology assets and Business growth.
Our recent research has looked at how the best-of-breed companies have handled ‘Technology Costs in the New Normal' and how incorporating continuous cost optimisation has provided competitive advantage.
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To achieve Technology Cost Optimisation, most organisations are faced with one of more of the following challenges:
- Senior Management does not have full visibility of overall costs across the Business functions making strategic decisions challenging or even impossible
- Minimal understanding and control of acquisition costs, operating costs and resources costs across the business functions
- Increasing 3rd Party Supplier costs
- Lack of associated tools or processes to identify key Technology Costs
- Increased Legacy and Technical Debt
- No overall Cost Control Governance
- Minimal Management Information even for departmental attributable costs
How can TORI help?
TORI have many years of experience in advising clients on all aspects of technology costs optimisation and how to maximise the value generated by rightsizing technology platforms. TORI provide alongside our traditional consultancy services:
Undertake a review of your 3rd Party vendor spend and provide comparison to competitors and Market Trends
Review the Total Cost of Ownership (TCO) and identify opportunities for asset consolidation and optimal asset utilisation (Data centre rationalisation, Cloud adoption, cloud operating models etc.)
Undertake a cost analysis of your Technology infrastructure and provide comparison to competitors and Market trends
Highlight the true Technology cost for servicing your Business Units
Review the IT Operating Model to identify if there are opportunities for further efficiencies for staff and 3rd party vendor spend.
Assess if your Technical Debt is being effectively managed
Develop a holistic Cost Transformation strategy that optimises the Technology organisation based on changes to the supply-side technology commercials