Cost-cutting and budget rightsizing are familiar telecom, mobility, and IT management initiatives. Budgets change, priorities shift, strategies evolve, and the financial response follows. It’s common business practice. While the impetus varies, a consistent and organized approach to execution improves accelerates results.

A common reaction when budget adjustments are needed is to question the plausibility of the mandate. Everyone approved the budget already, where am I going to find 20% to cut? Which department is willing to reduce mobile usage? Which users should we stop supporting to reduce our overhead cost? Answers to these questions may result in cost reduction, but the business fallout may cost more than the budget reduction. It is also possible that the plausibility reaction signals an opportunity to level-up budget management practices.

Strategic budget management requires clear understanding of the relationship between the business and telecom, mobility, and IT products and services. This understanding informs all budget decisions. Every budget has elasticity and an efficiency telecom, mobility, and IT management practice has deep insight about the factors that drive expense. Insight is not coincidental. It is the result of visibility, control, and analysis across all dimensions of the telecom, mobility, and IT environment. Insight is the key to being able to quickly and effectively identify opportunities to adjust the budget accordingly.

About the Author: Timothy C. Colwell

Timothy C. Colwell
By Published On: August 3rd, 2020Categories: Blog, Tim on Tech0 CommentsTags: , , , , , ,