The business climate and outlook for 2023 is worrying. IMF forecasts global growth to reach 2.7% in 2023, which is the weakest since 2001, excluding the global financial crisis and acute-phase of the pandemic. Global inflation is forecast to hit 6.5 percent in 2023. High profile companies such as Meta, Disney and Amazon, have freeze hiring and exercise retrenchment.
In light of the challenging outlook, CIOs have been tasked with cost optimization or even outright cost cutting.
Here are some suggestions for CIOs to get better value from their IT investments:
Align IT spend with business goals
It may seem like a motherhood statement, but we have seen IT projects being implemented because someone fell in love with the technology. CIOs should go back to basics and re-evaluate projects to see if they are aligned to business goals.
One basic goal is to ensure the IT infrastructure is running smoothly. Observability software may not be sexy, but it plays an important role in keeping IT up and running, and ensuring users have a positive experience when interacting with the enterprise though its website or apps.
Are there any opportunities to re-use or consolidate systems?
As observability is an enormous category, it is common for companies to use multiple monitoring software to monitor different systems. Buying these different software increase costs, and the companies end up with many separate consoles which also add to inefficiencies for the IT Ops teams.
Companies should consider using a single observability solution that encompass metrics, logs and traces, to support all the different systems, and provide a single pane of glass for better operations and to save costs.
Consider moving to SaaS
Moving from traditional on-prem solutions to SaaS would benefit most companies. There is no need to invest upfront in building your own infrastructure, instead you adopt a pay-as-you-use model and without the need to worry about uptime and security. Observability tools should be SaaS-capable, and able to support hybrid and multi-cloud infrastructure securely.
Optimize your most important resource – people
We know that all companies are facing skills shortage and difficulty with hiring and maintaining their IT employees. The typical IT ops team is small, with just a handful of IT professionals to manage the entire IT infrastructure and security. Observability tools should be easy to use, with minimal programming needed, and allow automation of manual tasks.
We have the solution for you
We understand the challenge and pressure that CIOs face today. At NetGain, we are committed to help the CIO maximize productivity and achieve operational excellence. With NetGain AI-driven Observability suite, we reduce complexity in hybrid IT environment, improve customer experience and foster team collaboration.
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