Reduce Finance and IT Function Spend

The CFO used Gartner finance and IT cost benchmarking and advice to shape spend reduction targets and secure buy-in from the function leaders who would be impacted by a planned cost-cutting initiative. Across the next 15 months, the CFO reduced function spend by approximately 8%.

Mission-critical priority

The CFO needed objective, industry-based benchmarks to shape spend reduction targets and secure buy-in from the finance and IT function leaders who would be impacted by the planned cost-cutting initiative.

How Gartner helped

Gartner research analysts collected, validated and reported custom data via the Finance & IT Spend Assessments. The data compared the company’s finance and IT costs and headcount to peers’. Additionally, the CFO participated in one-on-one advisory meetings conducted by Gartner experts. In these meetings, Gartner experts discussed best practices related to shared services, budgeting, forecasting and digital technology.

Mission accomplished

With support from Gartner for Finance, the CFO successfully: 

  • Set credible and realistic spend reduction targets and secured C-suite buy-in. He also identified the right digital technology investments for increasing reporting speed and flexibility.
  • Reduced finance and IT function spend by approximately 8% across the next 15 months. He leveraged this success to justify additional scrutiny of other functions’ spend.

Industry:
Oil & Gas

Revenue:
$10B-$50B

Employees:
100,000-500,000

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