We will survive COVID-19. We know this. There will be a post-COVID-19 era. We can debate about when this will happen, September or November 2020, January 2021, later, but it will happen. The second thing that is true is that almost every technology leader is supporting organizations that are significantly less fiscally secure than pre-COVID-19. What is a technology leader to do? All leaders need to balance two critical areas, fiscal responsibility and growth to change the business. What does this mean in practical terms?
Fiscal responsibility options (where can we save)
This is a challenging line to walk. We need to ensure services continue working well (availability/reliability) and we need to ensure security (and integrity). We also do not want to delay much needed upgrades too long because the team will get in a hole from which they cannot dig out. Some options:
Evaluate all the approve projects to ensure they “must” be complete
Move computer refresh from a three year to four year cycle
Do similar things with service and infrastructure refreshes, assuming you have been maintaining them
Renegotiate telephone, internet and other “utility” contracts
Growing to change the business
If you have not already learned as an IT leader how your organization makes money, how it clears a dollar, become a quick study today. You need to know not only how the money comes in but where the money goes out. You might be able to help with technology and process improvement solutions which will increase income and decrease expenses. Most people only look at increasing income and forget about decreasing expenses. Some options might be:
Telemedicine, virtual meetings to bill for services (I assume everyone is already doing this; develop more options.)
Online learning - is it appropriate for your organization to sell course material?
Insurance - Is there anything technology can do to decrease the cost of any of the insurance? Vehicle tracking, encryption, mobile device management.
Contract consolidation - Can your team help with the consolidation of various contracts such as telecommunications, computer acquisitions across locations, software acquisition, which if centralized would reduce costs significantly?
Technology leaders need to prepare now for post-COVID-19 with strategies which balance fiscal responsibility and business growth. Visiting with knowledgeable team members and customers, brainstorming options and developing the plan now is how to lead your team into the post-COVID-19 era.
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