FINsights focuses on IT optimization to help the financial services industry address rapid consolidation, uncertain economic conditions, and the ever-changing regulatory environment. Our experts discuss various components of IT optimization – from hardware (virtualization) and software (SaaS) to alternative pricing models such as unit of work. Learn how IT optimization can minimize costs, eliminate inefficiencies, and increase scalability.
Typically, big-ticket, revenue-generating IT initiatives are sidelined by non-discretionary budgets. The competitive environment is shrinking IT budgets and compelling CIOs to adopt proactive measures for controlling cost. CIOs must manage non-discretionary or 'run-the-shop' (RTS) IT expenses efficiently and effectively. Our experts explain how measurable and coherent optimization initiatives can be undertaken and how important RTS transparency is for the success of IT. The article provides an understanding of various expenses, factors driving expenses, why they are inflated, and how you can overcome these issues for RTS transparency.
Outsourcing trends in IT optimization: A survey-based article
By Naveen Jesudas and Arun L.U.
A wide range of optimization strategies, from platform-based solutions to innovative pricing models, are used in the financial services industry. The strategies vary with each organization and provide insight into technology and business. Our survey-based article highlights outsourcing trends in IT optimization in financial services organizations across USA and Europe. The survey reveals a shift in priority for technology solutions. Innovative solutions, such as new pricing models, cloud computing, intellectual property (IP) monetization, and co-creation, enable companies to better respond to market challenges.
IT optimization: Roadmap to cost reduction
By Abhay Mohata, Pritam Hemnani, and Reena Mishra
Financial services firms view IT optimization as a high priority initiative that optimizes costs, improves agility and enhances efficiency to address a competitive business environment and shrinking budgets. Our article identifies five IT-related, value-creating opportunities that can be the starting points in your IT optimization journey. IT optimization reduces the total cost of ownership, simplifies operations, eliminates redundancies, and ensures optimal utilization of resources.
IT optimization on the cutting-edge: Opportunities via joint IP creation and divestment of IP assets
By Sunil Kumar Sharma, Kishor Tilokani, and Piyush Pandey
Companies must focus on their core business and minimize non-core expenses to remain competitive. Our experts propose creative and proactive intellectual property (IP) strategies for IT optimization – IP divestment and IP co-creation. IP divestment enables companies to monetize non-core, legacy assets and shift resources to IT assets and initiatives that are core to the business. IP co-creation avoids the cost of creating large and expensive platforms by shifting partial ownership to partnering IT providers. Both the strategies require the right mix of partners and assets. Our article discusses the key components of each strategy, provides real-world examples, and guides you through the IP journey.
Tapping into SaaS and prepackaged products to drive optimization
By Ashish Murthy R.
IT organizations can choose between custom-developed and third-party product-based solutions for IT optimization. Products optimize costs, accelerate time-to-market, and incorporate best practices. A successful and cost-efficient implementation strategy maximizes the benefits of a product solution. Prepackaged software and services, and software-as-a-service (SaaS) models are popular enterprise-level implementation methodologies supported by providers and independent software vendors (ISVs). Our article discusses the challenges in these models, strategies to address the challenges, and the benefits delivered by the models.
Virtualization: A cornerstone of infrastructure optimization
By Vijaykumar N.
Virtualization is the key to hardware optimization, and the latest optimization trend in the IT industry. Our article focuses on virtualization, including why it should be implemented and how to embark on the infrastructure optimization journey. Virtualization is a mature solution to control infrastructure spread, meet the demand for computing power, and improve speed.
UoW model: Optimization through innovative pricing
By Sunil Kumar Sharma and Surendra Kumar Sitani
IT organizations optimize and align their IT budgets to enhance predictability, flexibility, and scalability. One of the simplest ways to achieve it is price per unit of IT service delivered. The unit may be an incident, a ticket or an application depending on the line of business (LOB) and service offered. It aligns cost with service consumption.
Models based on unit of work (UoW) ensure alignment for IT organizations delivering demand-centric services. The model offers granularity and transparency in the consumption patterns of end users, which can transform the optimization efforts of an IT organization. Our article describes the UoW model, analyzes its impact on IT cost optimization efforts, and provides a road map for UoW implementation.
Effective IT optimization by process optimization
By Kenneth C. Davis, K. Balvanth Reddy, and Pawan Kumar Singh
During a downturn, businesses across industries either divest or acquire ailing organizations. In favorable economic cycles, companies remain diligent and undertake activities to cut costs and gain a competitive advantage. In either case, it is important to improve and automate business processes to optimize IT operations and drive value realization. Our article focuses on enabling IT optimization through effective process optimization. There is always scope for improvement in every process, be it due to the advent of a new technology or an organization's drive to reduce operational costs.
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