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A huge chunk of enterprise resources go toward keeping the lights on instead of innovation. Rising Total Cost of Ownership (TCO) can cripple your ability to fund growth and innovation. It’s like a slow leak in your budget, minor inefficiencies can snowball into big issues.
But reducing TCO isn’t just about the price tag on a new device. It’s about the ongoing costs from acquisition to retirement that slowly drain your budget. Did you know that 80% of IT budgets are spent on operational and maintenance costs, rather than on fresh investments?
In this blog, we’ll dive into what TCO is, how poor device management leads to bloated costs, and share some simple strategies that’ll keep your IT spend in check. Let’s break down the secrets to reducing TCO through smarter IT device management.
Total Cost of Ownership (TCO) is the total price you pay to own and operate an IT asset from its purchase through to its disposal. The key contributors to TCO include:
By identifying and managing these areas effectively, businesses can significantly reduce TCO, improve operational efficiency, and allocate resources toward innovation. However, the challenge for IT teams is identifying and fixing these leaks before they drain the resources needed for strategic initiatives.
Proper device management helps streamline operations, prevent costly surprises, and make sure you’re getting the most out of your assets. According to a study, business’s waste up to one-third of their IT spending on inefficient systems.
To reduce TCO, you need a systematic approach, one that’s customised to your organisation’s needs. Let’s dive into some key approaches.
Standardising your IT ecosystem reduces complexity, cutting both operational and support costs. Opt for a single brand and model wherever possible. You’ll save time, money, and sanity!
Whether it’s software updates or performance monitoring, automating tasks cuts manual intervention significantly. Invest in tools that automate routine maintenance. It frees up your team to focus on more strategic work.
Predictive maintenance minimises downtime by identifying issues before they escalate. Use analytics to forecast potential device failures, spotting problems before they happen saves both time and money.
Multi-device management simplifies procurement, management, and replacement by offering a predictable cost model. It allows for better financial planning and smooth transitions across device lifecycles.
Pro Tip: Partnering with the right device management provider can help make all these strategic changes seamless, allowing you to focus on what really matters, growing your business.
Ready to reduce your TCO and boost your IT performance? Partnering with Ample means you get a tailored approach designed to minimise costs while maximising efficiency. Here’s how we can help:
Let’s work together to ensure your IT devices are working as hard as you are, without the costly surprises.