Saving Money Faster: Breaking the ITEM Decision-Making Logjam

men and women meeting, men shaking hands

Digital Transformation Requires Optimization for Better Business Decision-Making 

Like any good investment strategy, the sooner you start saving, the richer the long-term outcome. That’s why making the right digital investments – and managing those resources wisely – can make a world of difference today and in the future. Deploying new digital capabilities can help businesses reduce the cost of doing businesses while delivering better employee and customer experiences in the process. This is especially true as businesses face the potential for a recession.  

If we’ve learned anything from the recent pandemic times, jumping off the digital decision-making dime can be a lifesaver, especially when times get tough while conditioning a business to be more agile and stronger for the future. In fact, digital transformation accelerated at an unprecedented pace to enable hybrid work experiences, and companies that invested in digital have been making strides ever since in creating stronger operational platforms for continued success. Yet, “53% of organizations remain untested in the face of digital challenge and their digital transformation readiness therefore uncertain,” according to a recent Gartner report, The IT Roadmap for Digital Business Transformation

To eliminate uncertainty and increase business prospects, now is the time to get in good digital shape. Just like embarking on a physical fitness regimen, taking one transformative step at a time can be all that’s needed to get on the right track. However, jumping in with both feet – and the right mindset – can often bring better, faster results on the road to digital optimization. 

Digital Optimization: The Next Frontier 

Optimizing digital capabilities – including modern software-defined networks, multi-cloud services, and mobile and IoT – is the next frontier in getting the most out of a digital investment strategy. This requires a closer look – and often a reimagination of how technology is deployed across an organization to enhance operations, allocate human resources, and make faster front-line decisions. 

Imagine if you could analyze, manage, and expand your IoT device fleet all from one platform to automate setup and authentication processes, speed up device enrollment and confirm identities. Tangoe offers this and ability to control devices even after they are deployed to ensure that they work, improve performance, and protect from security threats. 

To keep up and get ahead of the current pace of change, digital fitness requires a new regimen. Transformation and optimization must be the discipline of every size business to ensure that their investments are on track to perform against the challenges we can see and for those beyond the horizon. 

That’s what digital optimization looks like. It puts automation to work to achieve a repeatable, higher level of process innovation to simplify, manage and optimize technology in response to the modern tech-enabled world we inhabit. At Tangoe, we’re proud of the artificial intelligence and machine learning that fuels our Tangoe One platform and all the capabilities it offers our customers to improve their business operations. 

The benefits of automation go beyond simply employing technology as a work horse. Having the right system in place can achieve new visibility across an IoT taskforce to realize cost optimization, reduce the burden on IT department resources, and minimize network vulnerabilities. Perhaps the most important benefit is the ability to access analytics that demonstrate the value of investments, so IT and finance can work more closely together to make decisions with smarter foresight and confidence. 

Strengthening the CIO-CFO Connection 

The CIO-CFO relationship is critical in ensuring that digital investments get appropriate funding and create the best return on investment across an organization. CIOs need to do a better job of expressing the business value of IT. In another recent report, Gartner urges CIOs to improve the language, metrics and reports that focus on IT’s impact, and observes that the most valuable metrics are those that can influence business decision making. 

They noted, “Organizations with strong CFO-CIO partnerships share a greater understanding of enterprise objectives and the intended role of digital investment in achieving those goals. Collaborative CFOs and CIOs also share an understanding of how technology impacts corporate financials and how financial management needs to adapt to support enterprise digitalization.” 

Tangoe excels at helping to strengthen this bond with data-driven insights and business optimization recommendations. By creating a common set of KPIs, and employing a platform that can produce timely reports, CIOs and CFOs can work together to make more immediate decisions to get ahead of strategic challenges and reach business performance goals. At Tangoe, our global intelligence platform delivers IT expense and asset information by subscription, user, and device to provide the precise detail in the moment to make sharper, data-driven business decisions for what’s next. 

Getting Ahead by Thinking and Acting Forward

Making the right digital bets at the right time can permanently reduce the cost of doing business, improve customer and employee experiences, exploit disruptive innovations, and outperform competitors during a downturn, according to Gartner. Especially, when faced with the utmost challenges, sometimes the best next step is “making a decision.” One Forbes article considers decision making  as the best next step when faced with a crisis, and the same holds true during less turbulent times: 

 “Once you have undertaken the research, once you have considered your options etc. the most important step is in actually making a decision. The crisis and any other business situation will come with a myriad of options, and it can be easy to continue to dither without [moving forward]. Choose the step that you wish to take, yes maybe the decision could have been better, but a decision is better than no decision. A crisis calls for quick but considered action.” 

To keep up and get ahead of the current pace of change, digital fitness requires a new regimen. Transformation and optimization must be the discipline of every size business to ensure that their investments are on track to perform against the challenges we can see and for those beyond the horizon. By harnessing the intelligence resident in an organization’s technology universe, decisions can be made with clarity, flexibility, and finesse to navigate both smooth and choppy waters ahead.

Are you ready to start saving time and money? Let’s Tangoe!