#1 Embrace open source to close the high cost!

Sometimes solutions are in plain sight, we just need to change the perspective!

Cost reduction is a continuous business exercise that demands strategic thinking and effective implementation. In the era of information technology, businesses are spending an exorbitant amount on adopting the latest software and solutions to boost control, efficiency, productivity and revenue. Moreover, IT departments of organizations are entitled to set up diligent and inter-connected software within the enterprise that guarantee security, uninterrupted connectivity and speedy performance in business operations. As a result, they usually don’t hold back their budgetary constraints in buying licensed software, which comes at a very high price.

Well, when cost reduction becomes a strategic priority then, it is time to open the door of ideas, that reflect the ingenuity of well-informed thinking and suggest the realistic possibility of cost-reduction.

Thus, one of the effective alternatives to deal with expensive licensed software is Open Source Software. These are kinds of software that allow free access to their source code and enable users to change, add or monitor these according to their needs. The best part is that they are either absolutely free, or virtually free at minimal cost.

Here, I would like to share my personal experience. In 2017, at Blue Consulting Pvt. Ltd., we were required to buy/renew 115 Microsoft Office Licenses, and that purchase appeared inevitably essential for our operations. The only concern was its high cost. But then our IT Head discovered an alternative solution after doing some well-informed research. He suggested an open source software named WPS, which was a perfect substitute of Microsoft Office. After a few weeks of adaptation & learning, our employees comprehended it, and started fully using WPS with ease.

We have been using WPS since 2017 and are now very comfortable with it. Interestingly, the version which we use is totally free and that wise decision led us in saving Rs.18 Lacs instantaneously.

Share this proven idea with your IT department, and convince them to look out for free and recognized open source software that can replace the paid software which are being used by your organization. You will be surprised to know how this little step can incredibly save you millions of rupees.

This is a series wherein I’ll share 9 instant proven cost reduction ideas.

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The next one would help you to reduce your AMC cost to virtually nil level. 

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Do you recall any related experience wherein you saved cost for your company, on a permanent basis?

If yes, please do share in the comment box below to enrich your CFO community with the wonderful knowledge you have.

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