What’s been the best way to optimize spend?
Eliminate Redundancy28%
Re-negotiate with vendors / take advantage of incentives46%
Shut down / pause what has been inactive13%
Update legacy and leverage emerging / more financially advantageous tools11%
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Speed kills (NTSB proves that all the time) - businesses need velocity. Velocity is speed with control - meaning direction/focus. Best way to increase velocity - get rid of "time vampire" people, processes, and technology and get a real leader. They will generate velocity to execute and deliver
Difficult to not answer three of the four.
Got it - thanks Paige! Maybe one / two where you feel like you got the most ROI/decrease without damage then?
David Seidl adding you to the thread - we're hoping to get some color from the poll here but also appreciate you also sharing your experiences in more detail.
Joanne Friedman you're name is familiar from my time at Enterprise Technology Research (ETR) - I recently left the firm and excited to be with Pulse.
Anyways, sorry to hear that you had to downsize staff, mistakenly I didn't include that as an option here... but if you have anything to chime in further I'm sure your additional peers on Pulse would appreciate it!
I think one easy way to optimize spend is to ensure those who are spending it have a budget, visibility and control of what the spend is, and how their actions can optimise it from the options in the above graphic. You want to make people accountable for their own spend and actively try and reduce it, or make it more productive.