Hospitals and other healthcare organizations spend a lot of time and energy conducting audits for telecom expense management. Often identifying areas of savings once all equipment, processes, and usage have been accounted for and analyzed for improvement potential. It's challenging to keep track of all of the extensive equipment that comes with telecom technology, as well as the analysis of lengthy invoices compared against actual usage or terms of the telecom contract. Extensive audits can … [Read more...]
Eight Steps for Hospital Cost Management
Hospitals are seeing shrinking margins, with slowing growth causing them to explore other ways of preserving decreasing revenue. The American Hospital Association’s 2018 Chartbook showed that the percentage of hospitals with negative margins increased by the end of 2016. These margins were similar to the levels seen during the 2008 recession. The result is that hospitals are increasingly pursuing other means of protecting their margins, primarily through hospital cost … [Read more...]
The Hidden Benefits of an Audit
The benefits of an audit are endless, and while many businesses understand that audits can save them money, they may not truly grasp the significance of those hidden savings and how they can be repurposed to serve other business needs. So what are some of the ways that audit results can help businesses? We’ll explore them below. Repurpose Saved Money Performing an audit in your business will likely result in surprise savings and leave you feeling some sense of shock at seeing how much you … [Read more...]
Choosing a Technology Lifecycle Management Vendor
Outsourcing a segment of your IT to a technology lifecycle management vendor comes with many advantages. Your vendor will take a proactive approach to managing your IT environment and reduce costs through procurement partnerships. They’ll also handle all the details, such as warranty expirations and subscription renewals, as well as disposal of your retired equipment without incurring extra cost. You’ll also appreciate the one-stop-shop aspect of technology lifecycle management, with one … [Read more...]
Cost Savings You Can Expect with Technology Lifecycle Management
It can be all too easy to default to a reactive mode with technology. You only think about your network when connectivity is a problem, and your employees only get a new laptop if they manage to complain the loudest about downtime or slow speeds and your infrastructure is a bit cobbled together because you don’t have time to dedicate to technology lifecycle management. What you should be asking yourself is how you can afford not to invest in technology lifecycle management. This approach is a … [Read more...]
The Telecom Audit: A Quick and Profitable Win for the New CFO/CIO
by Tom Reda, VP Marketing, PAG New CFOs/CIOs understand the importance of generating success at the beginning of their tenure. Improving cash flow is one area that has a quick and positive impact on the organization. As Samuel Dergel states in his landmark book, Guide to CFO Success – Leadership Strategies for Corporate Financial Professionals, “New CFOs who help with cash flow early are appreciated and welcomed as key contributing members of the management team.” Same holds true for new … [Read more...]
The Stages of a Technology Lifecycle
There are many benefits to investing in technology lifecycle management. From anticipating and planning for technology investments to optimizing systems and infrastructure for cost savings and efficiency, this approach takes a strategic look at IT and determines the best path for innovation and cost savings. You might wonder what technology lifecycle management looks like in a typical IT enterprise setting. It is designed to fulfill many functions, including ensuring that technology is not … [Read more...]
The Misconceptions About SD-WAN
by Barry Bazen, President & Co-Founder, Profit Advisory Group It’s true that SD-WAN has revolutionized how businesses function and how they connect with their disparate branches. It is also true that implementing SD-WAN into a business can result in major savings, but that may not always be the case. There are multiple factors that go into how much you can actually save with SD-WAN such as the number and size of locations and the current network topography of those sites. There are … [Read more...]
The Benefits of Outsourcing Technology Lifecycle Management
In a small to medium-size enterprise, and in particular with a startup, you’re required to wear many hats. Between managing a sales team, overseeing bookkeeping and accounting and tightening up operations, it can often feel like there is little time to focus on the core of your business plan. Areas including technology lifecycle management are often pushed aside because there’s no time or budget to dedicate to it. While you may not be able to afford the time to focus on areas of IT, you can … [Read more...]
The 6 Steps of Effective Technology Lifecycle Management
Technology lifecycle management is a growing focus of enterprises, government organizations, and nonprofits. The diversification of technology solutions, from contained, in-house systems to a varied environment with cloud applications and infrastructure, fleets of mobile devices and a broadened security plane have created a much more complex technology landscape. Chief information officers are more likely to be sitting in the conference room, directing business strategy, and evaluating how … [Read more...]
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