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Cost Optimization & Sourcing

8/21/2024 | nmb@konfitech.com

IT sourcing in business is a surprisingly important and influential process. Its direct effect on cost optimization, IT processes, and digitalization.

The current trend in cloud computing and economic activity is strategic cost optimization. Economic uncertainty, inflation, and geopolitical situation have created pressure for improving financial performance in businesses through effective strategies in sourcing.

IT Sourcing can support cost cuts across IT and business processes, while setting the business up for the future technological advancements we are seeing in the market right now with generative AI. Building the digital foundation of tomorrow's groundbreaking technology through careful sourcing.

In general, IT spend optimization is not one of great potential. As it is limited to the IT budget, while the business optimization is much higher. Especially when multiplying the potential of digitalizing parts of the business. One great example of this is Klarna AB, who sourced a chatbot for the service desk. Handling 2.3 million conversations and is expected to drive Klara 40 million USD in profit due to their effective sourcing.

These kinds of opportunities will only keep arising for various businesses as the technology matures, and you do not want to be the one left in the stone age. The opportunities are ripe for digitalizing your business and moving funding into the development of these digital business models through refined sourcing.

If you’re a business leader now, specialized in running the business, all these new technologies out there such as gen AI, Machine Learning, Blockchain, Cloud platforms, SaaS might seem disruptive, but how can you best apply them in your sourcing strategies?

The strategic sourcing partner, such as Konfitech, is one that can act like your bridge from enabling internal capabilities to external ecosystems out there. Building the connections between requirements and capabilities desired in the core business and aligning them to the real technical solutions to fulfill those requirements through sourcing.

Aligning the portfolio of the business to the outcomes. Overseeing adoption and implementation to the various business units, supporting on maximizing the ROI of technology investments through efficient sourcing strategies.

This will help you as a business leader focus more on what you’re doing today, making sure that you are adapting to the new technology and trends. Getting alignment from the technology stack to the portfolio and maximizing ROI of investments. Generally, many of the breakthroughs of innovation in the private sector during the last years have been from companies that have managed to hack the way they work with technology. Making significant breakthroughs in the cost structure of their industry, such as UBER or Lyft. They manage to source the right technology stack and deals to break the cost structure through advanced sourcing.

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