If you view your company’s IT as a cost center, “a necessary evil,” or “the cost of doing business,” you aren’t necessarily wrong. Still, it may mean you aren’t getting the best value out of your IT your company deserves.
With these 4 approaches, you can transform your IT from a cost center into a profit center.
1. Make IT Your Data Source
Think of your IT department, whether internal or outsourced, as the fount of valuable data.
Most of the tools your IT operations have in place have access to exponential amounts of data on just about everything having to do with your company, such as: What makes your company the most profit? What methods or workflows work better than others? What settings are the most optimized for your business? What areas can be improved through automation to significantly increase profit margins while decreasing the margin of error and overhead?
The best news is, there are plenty of free resources and other business intelligence software available to perform data analytics on all that raw data to deliver converted insights. These resources will give you a much better insight into areas of improvement, optimization, and profit growth, such as:
- Ad Hoc Reporting
- Dashboard Visibility
- Key Performance Indicators
- Strategic Planning and Roadmaps
- Visual Analytics
2. Convert Helpdesk into IT Management to Prevent Costly Mistakes Before They Happen
Often, IT is viewed as a helpdesk that will fix something when it breaks instead of a proactive IT management partner.
To be an effective IT Profit Center, at least 50% of all tasks, automation, labor, and direction must be proactive IT management. The other 50% of all IT resources should be dedicated to fixing problems before they start.
Reduction in downtime, prevention of cyber attacks and ransomware, rapid recovery of data, and peak performance of applications, resources, and tools are all part of the proactive methodology. This directly impacts performance, business continuity, and the total revenue vs. cost of your business.
With proactive IT management, your IT budgets become more predictable and stable, with less reactive costs.
3. Automate to Accelerate Your Revenue
Sitting “Idle” is a failed business model.
We’ve heard the mantra, “If it isn’t broke, don’t fix it,” many times, especially when it comes to enhancements, upgrades, and operations optimization. This approach inadvertently limits what your IT department can do for your revenue.
Technology constantly changes and provides faster, more comfortable, and automated methods to do repetitive tasks, processes, and workflows. There is a trade-off between return on investment of a product or solution against new technology.
However, if you have not made any significant upgrades, improvements, or enhancements from IT in the last three years or less, it’s time to sit down and discuss what areas could improve your business.
4. Communication is Everything
Dialogue with IT.
More often than we would like, we see companies struggle with internal communication from management to their IT department or between the company and the outsourced IT group. Everyone needs directives from leadership on what areas of the company need improvement and what points of focus are essential.
In the same manner, management needs to have regular feedback from IT regarding improvement recommendations and suggestions to improve and increase performance and profitability.
We live in a world driven by technology, and businesses can no longer think of IT as a luxury. Making calculated investments into your IT department or outsourced Managed Service Provider is a great way to improve profits and generate better investment returns.
If you need any IT help, consulting, or solutions, let us know.
With Strategic Network Consulting (SNC) as your IT partner on speed-dial, you’ll keep your tech working seamlessly and IT drama-free. We’ve got your back.