New Sourcing Strategies Can Deliver Transformation for 40 Percent Less Than Traditional Approaches

Rhea-AI Summary

ISG SourceIT event will highlight cost-saving sourcing strategies during digital transformation. Scheduled for September 28–29 in Frisco, Texas, this event will gather industry professionals to explore technology-enabled disciplines like Cloud FinOps and Software Asset Management. Experts suggest that these new sourcing strategies can reduce costs by up to 40% compared to traditional methods. Despite high market demand, challenges persist, including rising interest rates and supply chain issues, necessitating innovative approaches to cost optimization.

Positive

• Sourcing strategies at ISG SourceIT can reduce costs by up to 40%.
• High market demand for cloud computing continues.

Negative

• Rising interest rates and supply chain issues pose challenges.
• Tight labor market and higher energy prices may hinder cost optimization efforts.

ISG SourceIT event will explore sourcing initiatives that deliver cost savings amid digital business transformation

STAMFORD, Conn.--(BUSINESS WIRE)-- New, holistic sourcing strategies can help reduce the cost of digital business initiatives by up to 40 percent compared with traditional approaches, say experts with Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, appearing at the upcoming ISG SourceIT event in Dallas.

The September 28–29 event, at the Westin Stonebriar in Frisco, Tex., will bring together business and technology professionals and industry thought leaders to discuss ways to leverage technology to optimize costs across the enterprise and with external partners.

Technology-enabled disciplines such as Cloud FinOps, Technology Business Management, Software Asset Management and Concurrent Transportation Management will be discussed.

To optimize costs today, processes need to be dynamic, transparent, collaborative and close to the business, says Bill Huber, partner, ISG Digital Platforms & Solutions, and chair of the event.

“Managing costs requires a shift from fixed commitments to long-term strategic relationships,” said Huber. “Traditional levers of spend aggregation and economies of scale can hinder flexibility and be counterproductive to cost optimization. Collaborative sourcing that leverages emerging technologies is key to increasing agility.”

Huber said IT sourcing leaders must take on new roles and competencies to enable innovation. Transitioning to independent project estimations, interdependency analyses, transformation governance and value realization frameworks can accomplish digital business transformation initiatives at a cost up to 40 percent lower than traditional, linear approaches.

The event will include sessions on sourcing strategies to drive topline growth, managing cloud costs, aligning procurement with digital business transformation, the growing need for cybersecurity, and sourcing agile services. A panel discussion on shifting from category management to solution optimization will feature Anand Iyer, director of Technical Strategic Sourcing for customer engagement platform Twilio.

The latest ISG Index™, reporting on market trends for the second quarter and first half, shows market demand remains high, as companies continue to embrace cloud computing and leverage technology to improve productivity, lower costs and get closer to customers to drive revenue growth. Yet the market faces headwinds, including rising interest rates, lingering supply chain issues, a tight labor market and higher energy prices.

“In this environment, breakthrough cost optimization is readily achievable, but it requires a new generation of techniques that replace the cost optimization approaches of the past,” Huber said. “Companies must move beyond optimizing specific business areas in a silo, and instead pursue holistic strategies and strategic partnerships that recognize lower costs in one category can replace higher ones in another.”

ISG SourceIT is sponsored by Sapience Analytics. CIOInsights, CIOReview, the TBM Council and The AI Journal are media sponsors. Additional information and registration are available on the event website.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220817005440/en/

Press:

Will Thoretz, ISG

+1 203 517 3119

will.thoretz@isg-one.com

Julianna Sheridan, Matter Communications for ISG

+1 978-518-4520

isg@matternow.com

Source: Information Services Group, Inc.

FAQ

What is the ISG SourceIT event?

ISG SourceIT is an event focusing on sourcing strategies that deliver cost savings amid digital business transformation.

When is the ISG SourceIT event scheduled?

The ISG SourceIT event is scheduled for September 28-29, 2023.

Where will the ISG SourceIT event take place?

The event will be held at the Westin Stonebriar in Frisco, Texas.

What potential cost savings are discussed at the ISG SourceIT event?

Experts suggest that new sourcing strategies can reduce costs by up to 40%.

Which technologies will be discussed at the ISG SourceIT event?

Technologies such as Cloud FinOps, Technology Business Management, and Software Asset Management will be highlighted.

What are the current market challenges mentioned in the ISG SourceIT press release?

Challenges include rising interest rates, supply chain issues, a tight labor market, and higher energy prices.