How Finance Chiefs Can Cut Back On IT Spending Waste
CIODIVE, Wednesday, August 2,2023
To tackle outdated or redundant tech driving up IT spending costs, CFOs need to work with CIOs to create a 'common plan,' LeanIX's Christian Richter said.
The shining promise of emerging technologies like the cloud and generative AI has organizations reaching deeper into their wallets: global IT spending is expected to increase by 2.4% this year, reaching $4.5 trillion, according to a January report by Gartner.
Yet businesses and their finance chiefs are also facing continued pricing pressures, making it critical for companies to ensure they are spending on tools they really need for the business - as well as eliminate redundant or outdated tools that could be beefing up costs.