Business Reporter: Managing uncertainty: a CIO’s framework for IT prioritization

By knowing where the real IT budget priorities should lie, CIOs can manage volatile conditions and emerge stronger on the other side

LONDON, LONDON, UNITED KINGDOM, May 17, 2021 / — In a video interview and article published on Business Reporter, Seth A. Ravin, co-founder and CEO of Rimini Street, explains how prioritisation gives CIOs the power to steer their organisation into a thriving future.

Mr Ravin suggests that, as CIOs evaluate IT initiatives, they need to be ruthless. If a change doesn’t increase revenue, decrease costs or gain market share, they should not waste resources on it. For example, companies need to invest in innovation. However, investments in large upgrades to ERP systems are rarely productive. Instead they are often highly wasteful and don’t provide advantage or growth opportunities.

In his article, Mr Ravin describes a framework that enables CIOs to optimise their investment strategy. Within this framework there is a need to:

• Reduce software support and operating costs by using third party support and AMS providers
• Improve application management outcomes through consolidation and reduction in complexity
• Leverage public cloud rather than reinventing existing solutions by building their own infrastructure
• Manage public cloud usage with continual improvement programmes and effective security
• Optimise software licences, avoiding underutilisation and ensuring compliance

By focussing on cost reductions and efficiency improvements, companies will be able to move from a situation where they are able to reduce the costs of managing IT operations from typically around 90% to 60% or less, freeing up large amounts of money to invest in innovation and digital transformation.

To learn more about reducing IT operating costs, watch the video.

•• About Business Reporter ••

Business Reporter is an award-winning supplement published in the Sunday and Daily Telegraph, City AM and online, delivering news and analysis on issues affecting businesses to a global audience. It also hosts conferences, debates, breakfast meetings and exclusive summits.

•• About Rimini Street ••

Rimini Street is a global leader in independent, third-party enterprise software support services, replacing traditional vendor support. Since being founded in 2005, Rimini Street have saved their clients over $5 billion in total maintenance costs. The Company enables licensees of major enterprise software to extract more value from their software investments, invest in innovation, and create competitive advantage and growth.

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May 17, 2021, 09:00 GMT

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