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IT Hacks to Pinpoint Wasteful Spending in Your Business

brettclawson75 profile image Brett Clawson ・3 min read

Companies always look for ways to be frugal when they need to be to help their performance. There are several ways that information technology can help with that. There are ways to monitor every part of the office, which can be used to see where the money is going within the company. The monitoring does not mean spying on customers, but to see where savings can happen. The IT department can help determine what can be brought in to see what software and devices could be useful for this endeavor. Outside companies can also be brought in to see where they can help with new ways.

Print Management

A managed print service could be useful for culling print costs. The start of the process will be a print audit. After that, the company will offer choices that will bring in new printers, monitoring services, and other choices that will be able to lower the cost that a company may not know it has. The cost is usually per page printed, without buying the new equipment. They also will cover paper and toner costs all of the time. That means for a rate per page, the company will lose the headache of fixing printers, ordering supplies, and worrying about other little headaches.

Electric Issues

Many companies do not know that they have electric bills that can be reduced. There could be several issues that cause the bill to be higher. There are devices and software that can show when there could be a problem. If there is a gradual rise in usage, or even a sudden one, an electrician can come in to find out why. The software can help cut a bill most people do not realize is draining their coffers. This might also be able to show that going green could help lower the bill. These steps are areas that many people talk about, but few do something about it.

Paper Trail

One way that money could be going out the door is by using too much paper. Monitor the costs. Introduce tablets for people to read reports and such. This can also help in correcting reports, where one person reads what another wrote. No paper has to be printed, just bring the tablet over to show the section that needs work. While there will be the initial cost of the tablet, it will save. Most word processing software has highlighting features, which can be used for editing, as well.

Computer Resources

Company management may not always understand all of that goes into their computer network. That is why there needs to be a Chief Technology Officer that can help. If there needs to be more computing power, there can be new ways to have this. The cloud is an important tool for businesses. They can also reallocate their current needs over to the cloud, as well. This could cut down on current expenses, if they are looking for a way to save. They can decide what they have, maintenance costs and all, and decide. The cloud could save the money in the way most managers are not aware of.

There are several ways that companies lose money that they may not even be aware of. The company can look to their IT department to find solutions to how to monitor and replace in areas that need it. The money spent could lead to significant savings. It is up to management to start finding these solutions, whether by employee suggestion or research. Corporate waste is a hot topic, but it can be handled without it being a big deal to investors and upper management. It just takes planning and want to change.

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