Published: 24 June 2020
With COVID-19, 89% of polled Indian CIOs are expected to reduce their IT budgets by a minimum of 10% in 2020. With digitization at the forefront, the majority of impacted Indian CIOs will reprioritize corporate and business IT initiatives while embracing a multipronged cost optimization framework.
Eighty-nine percent of the polled Indian IT and finance and procurement executives expect to reduce their IT budget by a minimum of 10% or more in 2020 due to COVID-19.
Forty-one percent of the Indian IT and finance leaders plan to renegotiate IT contracts with their vendors, making it the most popular option to achieve individual cost reduction goals.
Indian CIOs have to balance accelerating cost optimization initiatives that can deliver on expected cost reduction targets while staying invested in the strategic and digital imperatives of the business.
Indian CIOs seeking to manage corporate IT and business cost optimization effortsshould:
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