Inflation, inflation, and more inflation dominate the news. We have short memories as inflation last knocked down our door in the 1980s. It’s not a new phenomenon.
If your business outsources IT, expect inflation to knock on your door soon if it hasn’t already. Are you ready for it? Do you have a plan?
For run-of-the-mill IT services, it may be wise to consolidate current suppliers or consider a longer-term contract to keep prices down. Giving a more significant chunk of change over the long term to fewer suppliers gives them the ability to manage their costs more efficiently. But don’t put all your eggs in one basket, as that’s risky.
If you require specialty services, expect to pay more. There’s no pipeline filled with up-and-coming IT specialists. That kind of talent will be costly for years to come.
The talent shortage is global, and the demographics keep shifting. Keeping costs reasonable will require more analysis, such as benchmarking your expenses against the IT marketplace. Consider the total cost for an operation or project, and require quotes that include a detailed service breakdown.
Suppliers will lure you in with a low price. But be high maintenance or deliver poor service. You can incur lots of extra costs you never expected.
You and your employees will lose valuable time addressing service and other issues. That low price may not include a service you require. The supplier will offer to add it on at an exorbitant cost.
Your outsourcing costs will likely go up in our current circumstances. Your business can stay ahead by focusing on the value of outsourced services. When IT services bring value to your company, you can keep innovating and growing.
Author: Kris Keppeler is a writer who finds technology fascinating and loves humor. She writes on Medium.com, Channillo, and Women of Wisdom. An award-winning podcast producer who enjoys telling funny stories. Follow her @KrisKKAria on Twitter or on LinkedIn.
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