Only half of companies achieve the cost-cutting goals set out by the CEO or CFO, and very few are able to sustain cost savings beyond the first three years. Hastily cutting costs can do more harm than good, and failing to adjust impacted internal processes increases risk exposure.
Five principles of cost optimization help financial leaders confidently distinguish between costs to minimize, and those that should be protected. Download Gartner guidance on achieving cost optimization:
- Allocate capital to new initiatives
- Assess spend productivity
- Catalog services provided
- Support business leaders on cost allocation
- Drive efficiency with benchmarking