The Need for Greater Costs Intelligence in Australia​

Overview:

This ADAPT Tech Trends examines the state of and need for greater costs intelligence in Australia. ADAPT intends to later publish the main findings of the in-depth voice of customer study conducted in 1H 2024. This study was conducted with 20 Australian organisations in the financial services and mining/utilities sectors.

For now, we find the scrutiny on IT costs has risen sharply since 2022 but organisations are seeking help to benchmark and course correct based on reliable insights. Doing so involves uplifting the data strategy, with the right process changes, and further embedding IT strategy into the corporate strategy.

Key Takeaways:

Some of the insights contained in this report reveal:

• The changing prioritisation for optimising costs, improving operational effectiveness and building the data driven organisation since 2019.
• Key operational priorities and major barriers to unlocking greater value and driving out costs in the longer term.
• The focus for and ease of getting full visibility into IT costs, related to tracking the real expenditures and value of those investments.
• Foundational change in processes and the data foundations can enable greater costs intelligence but ADAPT’s surveys reveal there’s a great deal more to do.
• Looking to the future and while profitability remains the number 1 outcome for organisations, regulations & ESG come in at number 2.
• However, the investment priorities of CIOs and CFOs reveal that more can be done if we’re to bolster security, gain cost visibility and become more effective.

Download these slides to learn more.