Are we headed for a recession? According to a recent C-suite study cited in CIO Magazine, eight in ten CEOs are expecting a recession to impact their organizations within the next twelve to eighteen months.
Recessions, as we know, can do significant damage, causing declining revenues for companies and forcing many to increase prices while laying off employees. For larger companies, it can be debilitating. For smaller companies it can mean bankruptcy and closing their doors. Any way you look at it, it's not good news.
There are, however, things IT/telecom management can do to prepare to help weather the recession storm. Because, fortunately, if you know where to look, there really is money to be saved.
We have assembled some tips from multiple sources, including our own team. Here are four key areas where significant dollars can be saved before you resort to laying off valuable employees:
No company wants to become blindsided by a recession that could last for well over a year. Planning is critical. Contact us. We're here to help.