Three Steps to Recession-Proof Your Business (Without Layoffs!)

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Cost-cutting initiatives are well underway, as companies prepare for the unknown future of the economy and executives brace for a possible recession. With louder talks of layoffs coming into play as a primary cost-cutting measure, a sense of foreboding is entering the picture, stymieing productivity, and upsetting morale across the hybrid workforce. 

These are unprecedented times to be certain. Inflation is a global phenomenon, caused by factors such as the war in Ukraine, post-pandemic supply chain challenges, and economic recovery incentives. However, given that the US is seeing some of the strongest employment demand ever, there’s also some optimism for a softer landing or faster road to economic recovery. By shifting to an IT optimization mindset, companies have an opportunity to pave a brighter path forward. 

With pricing volatility and inflation expected to continue, companies have an opportunity—and fiduciary responsibility—to better understand and manage their IT infrastructure, subscriptions, and assets to flex as needed to ride the ups and downs of today’s market. Using artificial intelligence (AI), Tangoe can see beneath the surface to untangle the cacophony of cloud subscriptions, mobile devices, and networking details to help clients better manage, simplify, and optimize their IT operations. Working together with our clients, we are helping them make the most informed choices to ride current and future economic waves with finesse. Layoffs can be a last resort for cost-cutting, and then only after assessing the true costs of running today’s tech-enabled business. 

As businesses grappled this year with trends including “the Great Resignation,” mergers, acquisitions and divestitures, and digital transformation initiatives, Tangoe helped customers proactively address key forces impacting the global marketplace. According to the company’s 1H 2022 Market Trend Report, Tangoe Advisory Services uncovered more than $120 million in savings for its clients; delivered more than 8,000 hours of staff augmentation; and assessed 120 contracts, identifying nearly $850,000 (16% savings) per agreement. These are the hidden gems lying beneath the surface of every size business that should be examined and excavated to move forward with clarity and confidence. Here are some steps to take now that will help you prepare for success whatever the future may bring. 

1. Take smarter stock of your technology expenses 

Before considering layoffs, expense management makes good sense to enable data-driven, smarter decision-making. Tangoe helps more than 50% of the Fortune 500 discover gold in their IT expenses and asset management that their modern business operations have come to rely on. However, expense and asset management aren’t only for big business, they have become a “must” for every size business to become more efficient and profitable. By seamlessly integrating with hundreds of global tech providers and customers, Tangoe delivers an automated framework and simple to use dashboard for reporting and optimizing spend and resources across telecom, mobile, cloud and IoT. 

The automated Tangoe One platform uniquely uncovers data points specific to an organization, as compared to business usage and historic benchmarks based on more than 20 years of expertise. Having this sort of data immediately available – with just a few clicks, Tangoe customers can generate custom reports to understand data for better decision making, forecasting and resource management in the moment. 

2. Enlist the help of a trusted partner 

Our automated technology, coupled with Tangoe Advisory Services not only helps improve efficiencies, but they can also provide the best offensive defense by raising employee and customer satisfaction and increasing revenue. 

Once you’ve invested in smarter data collection for a multitude of benefits, let the experts help you make the most of managing and simplifying your technology and resource allocation. Tangoe manages mobile assets from pre-configuration, to warehousing, to shipping to an increasingly remote workforce as needed. As a result, we can provide an immediate view of an organization’s mobile landscape, while being able to also collect and wipe clean assets as employees come and go. By augmenting your staff with Tangoe Advisory Services, operational staff and process augmentation can boost your return on capital investment.  

3. Reimagine resources with staff reallocation 

By putting smart, immediate, and customizable data into the right employee hands, they can have the wherewithal to save time seeking and creating meaningful reports for IT to share with finance and the C-suite. As a result, administrative tasks can be reallocated to more innovative company initiatives, enabled by the time-savings and enabling fewer employees to do more. 

By putting the Tangoe One platform to work, one client was able to optimize the equivalent of five days of work to 15 minutes of data-based discovery, rechanneling the productivity of one employee to yield the output of the equivalent of and one and one-half full-time employees. Staff reallocation can be your best investment in innovation by keeping eyes on the prize of shifting customer requirements. 

These results are not anomalies. They’re common threads and benefits we see across our client base. It’s why Tangoe has earned the trust of our clients, and why our capabilities can help your business be more responsively proactive considering inflationary, recessionary, and yes, even optimistic headwinds coming your way. 

Connect with someone from Team Tangoe today to get started on recession-proofing your business.