These efforts typically deliver 5 to 10 percent savings within six to 12 months. Banks can reduce third-party expenditures by working more efficiently with vendors (for example, standardizing laptop images), moving vendors to alternative pricing models (for example, fixed- or performance-based pricing where appropriate), renegotiating prices (for example, estimating “clean-sheet” costs), and consolidating relationships. Examples include prioritizing projects that are directly linked to the bank’s strategic goals (for example, next-generation payments strategies), reducing service levels to match real demand, reducing non-value-adding service levels, shifting workloads away from peak times, capping usage, purging historic data, matching the number of licenses to the number of users, and capping end-user usage. For most banks, a comprehensive review of IT expenditures can reduce demand significantly and deliver 5 to 10 percent savings within six to 12 months.
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