Versitae - Virtual Captive

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Technology is changing more rapidly than ever while also getting more expensive. With the emergence of consumer digital, mobile apps, artificial intelligence, process automation, and security tools, there are more ways than ever to digitize a business, and more competition for technology spend. Having a modern digital footprint is now required for most companies, and the costs those platforms bring are permanent additions to the technology cost structure. The shift of technology spend, while not new, is accelerating and driving more technology operating expense to the income statement. Software as a service (SaaS) solutions also now have more restrictive license models, and changes in the business can make it difficult to predict cloud software renewal and annual true-up costs. Two effective ways of combatting this tide of rising costs are (1) controlling the addition of new costs through disciplined business cases involving technology, and (2) reducing permanent on-going technology costs.