Legacy Technology and Cost Optimisation Challenges

CXO Portals recently hosted two ‘Cost Transformation and Legacy Debt’ Workshops at the Gherkin alongside Tata Communications.

Huge thank you to Tata’s Chris Abadir and Zuhamy Villaseñor for their invaluable input hosting both sessions.

Over light refreshment and brilliant views of London, attending exec’s discussed ‘Legacy Technology and Cost Optimisation Challenges’ focussing predominantly on:

💵 Budget
Budgets have been reduced in many industries leading to a real need for cost optimisation. The challenge with most cost cutting exercises is the immediate reaction to cut HR, training and travel. The negative impact on the employee is often not considered in favour of cutting costs, where moving to optimise systems driving the productivity of the technology has seen far more success and less impact.

There can be huge cost savings, both direct and indirect with updating systems, and doing it without introducing newer systems.

😊 Culture
One of the biggest challenges companies addressing their legacy system issues comes from team culture. There can be significant internal resistance to change, which makes implementing new systems or even optimising current technology more challenging. People get emotionally attached to the systems they use and will try to find a “work-around” to keep using the legacy tech.

🌟 Changing Role of Leadership
In recent times we no longer see CIOs and Senior leaders remaining in their role for 10+ years. The more regular movement of senior leaders can hinder the approach to legacy technology and cost optimisation, as with each new leader comes a change in the technology – This can result in many different systems being implemented delivering similar outcomes.

📚 Resource
Each new technology requires certain skill-sets to manage and deliver this into the Enterprise. Recruitment pressures, wage demands and the limited talent pool are impacting the speed and focus on cost optimisation.

CXO couldn’t host these thought provoking sessions without relevant attendees, so huge thank you to all who joined us and shared their knowledge and insights.

Adina Iliescu Denesh Ashok Debojyoti Biswas Sara B. GERMAN FARAONI HEIDENREICH Manivannan (Mani) Janakiraman GCB.D Maria Stefanova Eugene Prokopchuk, CFA Sarah Courtman

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