No. 2: Review And Refresh
A close second to virtualization is a review and refresh of the IT contracts and infrastructure. Sometimes, taking a step back and acquiring a fresh perspective is all it takes for an IT executive to truly understand the budget issues they are having and find a proper solution. Many of the CIO respondents said they reviewed or refreshed IT communication contracts and various operation elements to oil their IT machine and save money.
"We reviewed contracts to eliminate unused services, pushing for discounts and inventorying products to get all of the uses," said Matthew Colona, CTO of Envininet Inc. Other IT executives replaced and refreshed certain technologies, specifically printers and network infrastructure, to improve ROI. "Most IT executives' cost-saving initiatives are targeted to redirect budget-saving to new initiatives. Funding of new initiatives are accomplished through saving in other IT or business expenses," said Jose Martinez, director of information services at Pacific Maritime Association.