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New Research: Fully Outsourced IT Expense Management Costs 5X Less, Delivers Faster Results for Business InnovationFully outsourced IT Expense Management (ITEM) solutions deliver faster results at a cost five times less, according to a new Vanson Bourne study commissioned by Tangoe, the leading expense and asset management solution for over two decades. "As sprawling technologies and inflation consume larger proportions of corporate IT budgets, business leaders are growing increasingly concerned about their ability to sustainably innovate, including tracking spending, governing expenses, and stretching their IT budgets," said Becky Carr, chief marketing officer at Tangoe. "FinOps programs mature quickly and yield faster time to insights and savings when leveraging a managed solution." The study surveyed 500 IT and finance decision-makers from the US and the UK to explore their IT expense management practices. The research explored three approaches to IT expense management: fully in-house, fully external (third-party solution), and hybrid (a mixture of in-house and external solutions). ITEM Required for GenAI Success Cloud infrastructure has been dominating IT spending trends due to recent accelerations in digital transformation and because it serves as the underlying enabler for AI innovation and new GenAI platforms. As the data reveals, financial management is central in safeguarding business continuity and innovation performance, especially when cloud spending will soon drain +50% of IT budgets and is only expected to grow with increasing GenAI adoption. "AI can trigger unpredictable cloud costs, which is why ITEM software and services are being used to ensure innovation doesn't drive a hidden layer of technical debt," said Carr. The findings spotlight the complexity of IT financial management and what's at risk without it:
The Value of a Fully Managed Service In addition to putting context around the urgency and challenges associated with financial management, the study also reveals the advantage of using a fully managed service for IT expense management:
Learn how Tangoe helped a logistics leader accelerate their savings by 3 months. The faster a company can find new ways to save and capitalize on those opportunities, the more money it can save to offset the cost of an ITEM service or reinvest into overstretched IT budgets. Eliminating manual processes and ingesting information with AI automation are essential to reducing the administrative work of data compilation and speeding up the time to savings. Fully managed services can make a meaningful difference by helping clients both find opportunities and act on them. About Tangoe Tangoe is the leading technology expense and asset management solution. Tangoe seamlessly integrates with hundreds of providers globally to deliver the reporting and insights needed by enterprises of all sizes and scales. Fueled by an innovative automation framework and unified customer experience, Tangoe optimizes spend and resources across telecom, mobile, cloud, and IoT. For more information on the power of Tangoe and how it can transform your business, visit www.tangoe.com or connect with the company on LinkedIn and X.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240423550887/en/ |