Many companies are striving to be more agile, efficient and productive in response to uncertain economic conditions in 2016. Capital projects have been cancelled while companies shift their attention to surviving in the current environment without hindering their ability to expand in the future. Functional areas are facing significant pressure to cut costs and “do more with less.” Successful cost reduction or right-sizing efforts result in organizational realignment, process improvement and system changes.
Cost reduction initiatives will have a significant impact on IT. Not only will IT be asked to do more with less, but IT will also face increased demand to make changes to existing systems in support of functional area realignment. Forward-looking CIOs and IT departments should proactively focus on: