The research and advisory firm Info-Tech Research Group developed a road map tool to guide higher education IT leaders through cost optimization strategy, communication and implementation.
With higher education institutions facing funding cuts, shifting technologies and changes in enrollment, many anticipate having to make tough calls when it comes to IT spending. To help them navigate these decisions and identify ways to optimize IT costs, the research and advisory firm Info-Tech Research Group this week unveiled a new "road map" tool including methodology, a workbook, samples and templates for customizing a 12-month blueprint, according to a news release this week.
The road maps are designed to take a broad, strategic view of an institution’s assets, vendors, projects and workforce, as opposed to quick, top-down approaches to budget cuts that don't always consult involved parties or align with university objectives. According to the news release, colleges and universities that reported ineffective cost-optimization efforts to Info-Tech researchers cited issues with collaboration, communication, funding or expertise. Among other things, the road map includes resources to prepare communications to other departments.
“Rising tuition costs and growing student debt, especially for students from lower-income backgrounds, are widening existing economic gaps. At the same time, leadership and governance are facing intense pressure, as political scrutiny increases and college presidents navigate increasingly complex challenges,” Mark Maby, principal research director at Info-Tech, said in a public statement. “Given these pressures, reducing spending across organizations is inevitable.”
The Build Your IT Cost Optimization Roadmap for Higher Education is designed to help IT leaders take a long-term, strategic approach to reducing wasteful spending.
Info-Tech Research Group
As institutions confront these challenges, Info-Tech's road map suggests focusing on three areas: immediately reducing unwarranted IT spending, ensuring costs align with institutional values, and reflecting on cost optimization continuously, not just one time. It challenges IT leaders to assess whether they are reactive, proactive or strategic in this process.
From there, leaders can look at which assets they may be able to consolidate or decommission. They can consider renegotiating contracts and reviewing vendors, or restructuring project management to prioritize IT initiatives. They can also assess staff resources and upskilling opportunities. In this work, the “90 percent of the budget you keep is more important than the 10 percent you cut,” Info-Tech researchers said in the news release.
