OKR template to optimize IT costs by reducing expenses by 20%
In order to improve financial efficiency and ensure the long-term sustainability of our company, we have set the objective of optimizing IT costs by reducing expenses by 20%. This OKR will require a comprehensive evaluation of all IT-related expenditures and the implementation of cost-cutting measures that do not compromise our ability to deliver excellent services to our clients. By achieving this objective, we will free up the necessary resources to invest in critical areas of our business and remain competitive in our industry.
Reduce IT expenses by 20%
Analyze previous quarter expenses and identify areas for cost reduction
Determine cost-saving opportunities- Identify spending patterns
- Review expenses
- Implement cost reduction measures
- Educate employees on cost-saving practices and enforce IT policies
- Regularly remind staff of cost-cutting policies
- Contain training sessions for IT policy adoption
- Monitor employee compliance with IT policies and address non-compliance
- Hold information sessions about cost-saving practices
- Negotiate with vendors for better pricing
- Research vendor's competitors and their rates
- Highlight your previous purchasing history with them
- Offer to sign a long-term contract for a discount
- Ask for a volume discount based on the forecasted quantity
- Implement solutions and track savings
- Identify opportunities for cost reduction
- Implement cost-saving solutions
- Track and report realized savings
- Prioritize solutions based on potential savings