IT Cost Saving – Quick Wins

Years ago I worked for an owner of a big company who I learned a lot from early in my business career. At times it got to be very funny to me, the book of Proverbs was on full display at times. He had phrases he would say that stuck with me as we were in meetings with other executives or directors. One of them is as follows:

“It’s better to save money than just make money, when you save money you don’t pay taxes.”

We of course had to counter this phrase with another one, “don’t lose a dollar chasing a penny,” But the point still stuck. Often times maximizing what you can do means shaving costs, enabling you to do more with what you have. Often times this is the cutting edge you can achieve over your competitors. Together with innovation, cost savings can produce powerful results when done wisely.

The following is a list of IT Related areas where you can shave costs, and achieve a few quick wins.

---

Cybersecurity Insurance Rebates & Discounts

• Many insurance companies will lower your premiums or offer rebates for meeting particular security standards
• Review your business insurance coverage and look for phrases like:
  • Business Insurance Discounts
  • Risk Management Programs
  • Loss Prevention Incentives
  • Security & Safety Discounts
  • Small Business Benefits & Programs
  • Cybersecurity & Fraud Protection (if related to data security)
  • Property & Liability Insurance Savings
• Quick Wins:
  • Implement MFA (Multi-Factor Authentication) – Many insurers require or incentivize it.
  • Enable disk encryption for employee laptops.
  • Use Endpoint Detection & Response (EDR) solutions (e.g., Microsoft Defender, CrowdStrike).
  • Conduct annual security awareness training (often free or bundled with security services).
  • Obtain SOC 2, ISO 27001, or CIS compliance if applicable.

Energy & Utility Savings

• Quick Wins:
  • Energy-Efficient Hardware – Use ENERGY STAR-rated servers, desktops, and networking gear.
  • Virtualization & Cloud Migration – Reducing on-prem servers cuts electricity & cooling costs.
  • Automate Power Savings – Use power management tools to shut down unused workstations.
  • Utility Rebates – Some energy providers offer rebates for upgrading to efficient IT equipment.

Energy & Utility Savings

• Many governments offer IT-related tax breaks and grants for small businesses.
• Quick wins:
  • R&D Tax Credits – Businesses developing software may qualify for research & development credits.
  • Energy-Efficient IT Credits – Some regions provide tax benefits for data center efficiency upgrades.
  • Remote Work Tax Deductions – Companies supporting hybrid work may write off office-related costs.

Vendor & Subscription Optimizations

• Businesses often overpay for software & SaaS tools.
• Quick Wins:
  • Negotiate Bulk Discounts – Many vendors lower costs if you consolidate software purchases.
  • Eliminate Redundant Tools – Many companies use overlapping tools (e.g., Slack + Microsoft Teams).
  • Downgrade Overpowered Licenses – E.g., Microsoft 365 E5 → E3 for employees who don’t need advanced features.

Internet & Telecom Cost Reductions

• Businesses often overpay for bandwidth & phone systems.
• Quick Wins:
  • Audit Internet Usage – Many businesses pay for excess bandwidth.
  • Switch to VoIP – Cloud-based VoIP (e.g., Zoom Phone, RingCentral) is cheaper than traditional PBX.
  • Consolidate Mobile Plans – Many carriers offer discounts for bundling business phone lines.

Free & Discounted Software Programs

• Quick Wins:
  • Microsoft for Nonprofits – Churches & nonprofits get free Office 365 & Azure credits.
  • Google Workspace for Nonprofits – Free email & collaboration tools.
  • AWS Activate & Azure for Startups – Free credits for new businesses using cloud services.

Free & Discounted Software Programs

• Quick Wins:
  • Cloudflare Free Tier – Protects against DDoS attacks & improves site performance.
  • Microsoft Secure Score – Helps businesses improve security posture for free.
  • Let’s Encrypt – Free SSL certificates instead of paid options.

Payment Processing Fee Reductions

• Quick Wins:
  • Negotiate Merchant Fees – Many businesses don’t realize they can negotiate lower rates.
  • Switch to Lower-Cost Processors – Stripe, Square, and others offer competitive fees vs. banks.
  • ACH Over Credit Cards – Encouraging ACH payments reduces transaction costs.

---

At the end of the day, cutting IT costs is a lot like dieting—you trim the fat, but you don’t want to starve the business. So be smart, be strategic, and remember: saving a dollar is great, but don’t lose your whole budget chasing pennies… unless, of course, they’re Bitcoin!