How to reliably master your software spend and maximize ROI:
Three approaches to cost management you need to know
There’s good news and bad news for IT and finance leaders when it comes to technology spend.
The good news: Many IT leaders are successfully transforming their organizations to support hybrid workforces by design rather than remote workforces by necessity. This shift enables flexibility, productivity, and innovation across the enterprise.
The bad news: Those same leaders are often under strict instructions from the top to cut costs. At first glance, that sounds contradictory—how can you invest in modernization while reducing expenses? The truth is, it’s not as conflicting as it seems.
Technology spending is no longer confined to IT departments. Today, lines of business are increasingly self-selecting and self-funding the tools they believe will help them succeed. What used to be labeled “shadow IT” has evolved into mainstream technology spending. While this democratization of tech can drive agility, it also introduces complexity — and, if left unchecked, unnecessary waste, compliance challenges, and security risks that can derail strategic goals.
So, how do you regain control without stifling innovation? This guide outlines three essential steps to manage software spend strategically:
- Cost cutting: Identify and eliminate redundant or underutilized licenses.
- Cost optimization: Streamline procurement and negotiate smarter contracts.
- Value optimization: Align technology investments with business outcomes to maximize return-on-investment (ROI), efficiency, and sustainable growth.
These approaches may sound similar, but they’re not interchangeable. Each plays a distinct role in building a sustainable, cost-efficient technology strategy that supports both innovation and fiscal responsibility while reducing risk.
Read to take control of your software spend? Download the full ebook below for actionable insights and proven strategies. And when you’re ready to put these ideas into practice, reach out to our experts — we’re here to help you turn cost management into a competitive advantage.
Click to read How to reliably master your software spend and maximize ROI
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