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05 Feb 2023

10 Ways IT leaders can sustainably reduce expenditure for their organization in 2023

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Ranit Fink
Woman at table explaining sustainable cost reduction strategies for IT leaders
Table of Contents

In light of the challenges the global economy is facing, it is safe to assume that companies will focus on efficiency measures in 2023. Consequently, cost-effectiveness may be a significant consideration for organizations when making IT decisions. With sustainability also becoming an increasingly pressing issue for many organizations, a heightened emphasis is expected on both sustainable and cost-effective IT practices in 2023.

Enterprises, especially ones with heavy IT operations, may look at measures to effectively manage their IT infrastructure These measures may include reducing or eliminating unnecessary spending while remaining sustainable. 

Tips to Advance Your Organization’s efficiency Goals

Listed below are some tips IT leaders can use to advance their organization’s efficiency goals through reduced costs and reduced environmental impact of IT operations in 2023:

#1: The highest IT expenses are usually on hardware. Adopt solutions that are Capex-free. Such an approach is also energy-efficient and supports organizations’ sustainability goals.

#2: Find a smart solution that enables you to do more with less. For example, AI-based solutions that are based on top-notch algorithms are an innovative capex-free, cost-effective way to provide connectivity SLAs and peace of mind. 

#3: Cloud-first thinking is the way to go. Moving workloads to the cloud can provide a cost-effective alternative to on-premises infrastructure, and help to reduce energy consumption, as cloud providers typically have more energy-efficient data centers. Cloud-based services also enable scalability and flexibility.

#4: Shop around: Compare prices and negotiate better contracts with multiple vendors to ensure you’re getting the best deal. Be sure to compare not only the monthly fee, but also any additional costs, such as installation fees, equipment rental fees, and early termination fees.

#5: Redefine your mission-critical services: Take a hard look at what services you’re paying for and whether they’re actually necessary for your business. It might be time to unsubscribe or adjust some of the services you are currently paying for.

#6: Make sure you’re not spending on overlapping solutions. Look for a platform that provides extra value or a unified solution.

#7: Optimize your routing costs: One of the most common causes of high MPLS costs is inefficient routing. Instead, consider smart virtualized networking that will better route your traffic in a cost-effective way.

#8: Conduct regular network assessments and monitor your network usage. Ongoing monitoring can surface areas of wasteful consumption and potential cost savings. Look for high-consumption sites, services, and users and prioritize business-critical traffic to improve applications performance/ Reduce costs by making optimal use of the available bandwidth.

#9: Security can be costly and require over-the-top networking equipment. Make sure you’re getting the solution that’s the best fit for your organization’s security needs. For some organizations, secured protocols such as IP/SEC which are already implemented as part of the networking infrastructure are secured enough for their IT needs. 

#10: Look into hybrid, alternative solutions: If your traditional MPLS or SD-WAN service is too expensive, consider a hybrid solution that uses a combination of MPLS and internet connections to save money on your overall WAN costs.

Conclusion

We hope you’ve liked the article. Keep in mind that your network connectivity is a business-critical service, and cutting costs and energy should not come at the expense of quality or availability. Evaluate your options carefully and make sure you’re getting the best balance of cost, sustainability, and quality for your business.

Teridion’s AI-based technology serves IT experts all over the world in a manner that is both cost-effective and sustainable for the organization.

Teridion is also proudly trusted by leading service providers. The ongoing partnership with Deutsche Telekom is expanding Teridion’s offering around the world with premium network quality. This joint offering constantly delivers premium internet to Deutsche Telekom’s customers. Read more about the latest announcement on DT’s investment.

Would you like to know how you can upgrade your network in 2023, while implementing our cost-saving tips? Start a free trial with one of our experts today, we’d be happy to assist.

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Ranit Fink

VP Product and Business Development

Ranit Fink is the Vice President of Product and Business Development for Teridion. Prior to Teridion she was the co-founder and VP business development of Cellrox, a mobile security company. Ranit holds an M.Sc. in Computer Science from Columbia University and a B.Sc. in Computer Science and Mathematics from Bar Ilan University.
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