Organizations across the globe are rapidly changing due to the COVID-19 pandemic – the way companies do business is shifting. Cost-cutting is a judicious strategy and in top priority for almost all industries struggling to survive the financial impact of the pandemic.

The primary purpose is to lower costs, that too smartly, thus minimizing undesirable long-term consequences. Economizing and advancing throughput are continuing management responsibilities. The brutality of the crisis and its outcome makes these tasks even more essential, and the necessary cost cuts considerably exceed previous scopes.

However, limiting expenses runs the risk of curtailing business experience. Progressive businesses strategically amend non-essential costs so they can preserve the market presence and organize for the post-pandemic reflection.

In this briskly changing business environment — where cost is a real planned differentiator — vTech Solution, Inc. provides managed IT services, which are cost-effective, helping organizations to focus on other business operations, while we take care of their IT requirements.

COST OPTIMIZATION: 

A BETTER WAY OF BUDGET REDUCTION

For budget reductions, the functional leaders like CTOs, COOs, heads of IT, marketing leads, head supply managers, and business unit directors are supposed to hit the targets of budget reduction within their departments. The complete and initiative wide approach may be advantageous but the ability of efficient leaders to impact areas outside their control is often limited.

Organizations should line cost optimization as a spread-out effort that can have both immediate and long-term consequences for business presentation. Cost optimization demands a mix of enhancements that cover every part of the initiative to accurately serve the enterprise.

Outsourcing, shared services, automating IT operations, etc. are some variables that help in cost optimization strategies.

At vTech, you’ll get highly scalable solutions for your diversified IT requirements. We help you invest your resources on frontline operations, while we support your IT infrastructure in the backend.

To have more clarity in cost optimization and its decision-making process, a company should have the following concerning areas:

• The potential monetary benefits

The budgeting strategy during COVID-19 should be figuring out what’s the new baseline for income and what methods can be followed to have such potential monetary benefits.

• Possible risks in business

Business risks are recognized using various techniques, but each strategy depends on a detailed analysis of specific business happenings that could present challenges to the company. Under most business representations, organizations face avoidable, planned, and external threats that can be managed through either approval, reduction, allocation, or rejection.

• Business risks and Continuity plans

To safeguard business continuity, having an emergency setup is important. In the present situation, it is vital to respond as quickly as possible to moderate impacts and other risks and to prepare the organization for the advance development of the COVID-19 pandemic.

Business continuity plans cover infrastructure, worker, business operations, and communication risks, with the target of managing an organization that has to face upcoming challenges and risks and wants to ensure continuity of production.

• Impacts in ongoing business

In relations of impact, the effectiveness of the cost optimization is partly depending on whether business leaders and their staff members are capable of adapting the new approaches and processes.

For example, optimization may include forefront systems and tool automation in their business processes.

Role of IT Services in Cost Optimization–

An IT organization can help with the expansion of business value. For streamlining or being efficient in making more revenue, there is a need for strategic investments in IT MSPs which can provide mechanization in lowering expenses and increasing revenues.

Companies that are growing would standardize their IT-enabled resources to optimize cost, and meet their customer expectations. While the established organizations would optimize costs through their investment-based projects. These projects would automate resources at lower costs.

Read: 101 Guide: Choosing the Best IT MSP

COST OPTIMIZATION TRENDS –

Cost optimization is a critical authority for any purposeful leader, but its implementation and impact stretch far beyond the limits of any single efficient area. Optimizing costs is a constant cross-enterprise determination by organizations to take into consideration now more than always.

Nowadays, companies are looking forward to a “new normal”; often rapidly shifting direction to accustom to spikes or drops in consumer demand.

The investments of organizations in digital transformation can help reduce costs now while providing a framework for speed, cost efficiency, and organizational modification to remain ahead of the curve.

In this cutting-budget scenario where spending smartly during the crisis can be a solution to save your organization’s downfall, organizations like vTech Solution, Inc. can be your valuable service provider.

How Can We Support?

vTech Solution, Inc. helps IT organizations constantly deliver on service level obligations while assisting new business purposes, avoiding threats, and controlling costs. We can help in line up remote IT requirements with a budget, permitting you to communicate IT impact on business results.

We are backed with extensive experience and in-depth knowledge of providing IT remote workforce. Believe it or not, many coronavirus contingency plans seek remote work.

Key Takeaways –

• Cost optimization is a spread-out effort with short and long-term consequences.
• Mitigate business risks considering the new normal.
• Organizations should be ready with Business continuity plans to cover infrastructure, worker, business operations, and communication risks
• Automation and standardization of IT operations helps significantly in cost optimization strategies.

Join our latest panel discussion on “Procurement Challenges During COVID-19” on June 23rd at 11 AM EST. 

Click on the link to register: https://bit.ly/37DZMXL

As the Covid-19 Pandemic brought the economies of the world to a screeching halt, the world is now preparing for its fallout. We are embracing the new dawn of business realities; every organization is adapting to survive.   

World economy is restarting, organizations have yet again opened doors, we are embracing the ‘new normal’ and the challenges is bringing with it, a simple definition of economy states “Economy is a system of Buying, Selling and consumption of goods and services being produced.”, ‘Buying’ is a quintessential part of the same. Procurement specialists are working continuously with the government and corporate sectors to cope up with challenges such as market availability, border restrictions, broken supply-chains, etc. 

The government agencies’ readiness to deal with the heightened attention on procurement processes, and to find the solutions in the unprecedented times, when home-based work is a prerequisite should be considered. 

At the same time, maintaining transparency in costs across categories, suppliers and facilities are vital to avoid unnecessary spending during the outbreak. Here, procurement leaders need to keep a tab on savings, and they can achieve it with the adoption of digital technologies. 

At vTech Solution, Inc., you’ll experience highly scalable IT solutions that will enable you to take care of your procurement requirements while you focus on making purchases and track progresses. 

So, what are the procurement challenges are we facing the ‘new normal’? 

1. Supply chain 

Companies may continue to face supply chain challenges for a prolonged period. It is an ordeal for managers and procurement specialists for coming up with emergency plans for upcoming delays and manage risks. 

2. Conflict of preference 

Accenture stated, 94% of Fortune 1,000 companies suffered supply chain disruptions due to the pandemic. 

Some projects might not be in priority. Here, procurement managers need to make the organization understand why their projects need to be in high priority. 

3. Quality issues 

Even if the procurement specialists manage to get the products, their quality might not be as expected. This might need amendments in the project deadlines or clarification to the clients regarding the quality of your deliverable. 

4. Price fluctuation 

COVID-19 has left the market extremely volatile. Imagine that the procurement manager has secured the products, there are chances that the prices may have increased or decreased, leading to recalculate your project budget. Since there are global supply shortages, some companies might afford to pay the increased costs, while some may turn down the projects altogether. 

5. Maintenance and Support Issues 

Customer support and maintenance is facing the wrath of COVID-19. It would be agonizing for government agencies as well as corporates and their customers. Here, transparent communication is the key to calm down clients and customers. Though solving each customer query through phone or chat might become tedious, one can also take resort to social media platforms in order to broadcast information or answers to general queries. This will help to retain customers. 

How vTech Solution, Inc. can help solve Procurement Challenges during COVID-19 pandemic? 

A 2019 CPO survey by the University of Mannheim, 83.9% of Chief Procurement Officers (CPOs) consider the adoption of digital technologies as important to improve procurement performance. 

Only 65% of respondents are utilizing cloud solutions, and only 15% are using emerging technologies like Machine Learning (ML), blockchain, predictive analytics, etc. 

a. Automating operations through IT – Move your sourcing workflows on cloud and reduce your cycle times and operating costs. 

b. Using intelligent technologies – To achieve the expected level of the business outcome when other businesses are struggling for survival, using analytics and machine learning to get a uniform view of expenses across organizations is the right move. 

c. Excellent customer experience – Through collaborative tools like cloud and Microsoft applications, lakhs of invoices are handled with a few clicks, making the procurement process easy and cost-effective. 

Role of IT in the procurement process –  

In the future, the procurement process will evolve as an autonomous entity with the help of advanced technologies. Whichever way an organization chooses, understanding key business challenges, tapping opportunities for technological innovation, and standardizing a vision is inevitable. 

vTech Solution, Inc. takes care of the clients’ needs, provide them with the required managed IT services, and determine the right fit to achieve the best value in the most cost-effective manner. 

What is Managed IT Service? Who are Managed IT Service Providers?

Managed IT services enable businesses to delegate their IT operations to a skilled third-party organization that focuses on handling these responsibilities. These third-party organizations, called Managed Service suppliers (MSPs), are answerable for all or parts of a business’s IT systems, as prearranged in the Service Level Agreement (SLA). IT instrumentation is usually procured by the consumer, and looking at the SLA, Managed Service suppliers could offer around-the-clock watching, issue resolution and news, and more.

Managed IT service providers charge a flat fee for the delivery of their services over a collection amount of your time. The SLA defines precisely what services are going to be stocked and the extent of service they're going to be offered, furthermore as metrics for measure the success of those services.

COVID-19 has forced many companies across the USA to shut down offices, it has encouraged businesses to hold technology for remote working — and cloud services can play an important role in ensuring business stability.

One of the benefits of managed IT services is that cloud computing has allowed managed IT services to cross geographical boundaries that may constrain the common break/fix IT through the adoption of code as a Service (CaaS) technologies, furthermore as Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) conjointly. These capabilities enable managed IT services to scale at a rate dramatically larger and quicker than in-house IT operation or break/fix suppliers.

How to Choose the Perfect IT MSP?

After deciding to explore managed services, the succeeding step is to find the correct MSP. With such different types of suppliers giving such a large variety of services, calling the shots will be difficult. Here is a unit of twelve qualities to appear for once evaluating MSPs.

1. Technical Experience

As an IT professional, your job requires a strategic read of your IT surroundings and map technology investments to reach business goals. MSPs will be valuable at serving to you achieve this role. On the one hand, they should make the effort of managing basic infrastructure off your plate. Collaborating with a managed IT services provider should simplify, make cost-efficient, and augment your team’s skills with deep experience in security, networking, communications, while not increasing payroll.

2. Advanced Technology

You must get the newest technology and most subtle IT talent, without making those investments yourself and once it’s time for an upgrade, you do not bear the expense and the pain. All of that ought to be handled behind the scenes by your MSP.

3. Flexibility and Quantifiability

MSP ought to perceive your distinctive service wants instead of simply giving the same solutions. You must be provided with alternative, data storage plans, package choices, and business applications. Furthermore, flexibility in preferring what hardware is put in in your workplace.

4. Business Applications

MSP should offer basic infrastructure services. It needs to give you the choice of subscribing to business services that run on prime of the network services like collaboration tools, email, and remote database backup.

5. Proactive Stance

A top-line MSP should automatize every IT management need, to avoid any issues and uproot the problem. If a problem occurs, your MSP must have an automatic response to resolve it as quickly as possible.

6. Visibility

You should have complete visibility into your IT surroundings through a web-based client portal that gives a centralized management dashboard. You should apprehend in a look at what has been done to your IT infrastructure. Furthermore, what's presently being worked on, and what still has to be accomplished.

7. Around-the-Clock Support

An MSP needs to support and proactively monitor its knowledge, voice, and security services diligently. Though, primarily it has to be done remotely, meaning you don’t need to expect a technician to come back to your workplace if one thing goes wrong. The MSP should additionally provide prompt on-site union for those things that can’t be diagnosed and are stuck from a distance.

8. A Fervent Account Team

A leading managed IT services provider can collect a top-notch dedicated team to support and repair your account. The team must be intimately aware of your IT surroundings to assure fast answers for queries.

9. Strong Monetary Health

You must verify the monetary strength of the MSP. The final thing you wish is to possess the choice and provisioning method everywhere once more. Therefore, select an MSP that’s planning to be around for the future.

10. Business-Class Service Level Agreements (SLAs)

MSP’s SLAs are made for maintaining the system and network convenience. These SLAs ought to be quantitatively measurable and simple to grasp.

11. Flexibility

Assure that you have choices to decide on among non-public, public, and hybrid cloud solutions for knowledge, voice, infrastructure, and applications. And you must be able to select the extent of service you wish from your MSP.

12. 12. Security

However not least, question the MSPs you're considering for his or her security certifications and their ability to satisfy HIPAA, PCI, or different qualifications that assist you to go with restrictive and trade statutes.

An MSP will free you up to try and do what you’re best at strategizing on what technology investments can best advance the business. MSP programs will enhance and rework different areas in their contingent hand's program, leading to higher delivery and utilization of talent to form a competitive business advantage.

It’s vitally important to maintain good communication with your clients, in this COVID-19 situation. At vTech, we take care of our clients’ needs, provide them with the required managed IT services, and determine the right fit to achieve the best value in the most cost-effective manner.

The advancement in the workforce, along with newer technologies made the healthcare industry, rely on consulting agencies for hiring IT professionals instead of their HR departments.

Today’s situation of COVID-19 pandemic, where the number of infected patients outruns the number of healthcare professionals needed to cure them, has left the healthcare and medical industry helpless. The hospital staff and all others involved are still showing up and giving their cent percent, but it is not enough for the nation.

The healthcare and medical industry these days are going through a lack of personnel. On April 7^th, Washington DC Mayor, Muriel Bowser, had asked residents to clap and cheer at 8 p.m. to thank hardworking health workers in the district.

With the alarming rate of increase in the number of COVID-19 patients, many hospitals around the country are mainly focused on taking care of specifically COVID-19 patients. In this situation of trauma, the whole staff of healthcare professionals has shifted to provide them as a major concern; which have resulted in vacancies both for the healthcare professionals and their recruiters.

The need varies from nurse staffing and physician staffing to allied clinician and pharmacist staffing and recruiting. Finding the right candidate to support key services is a challenge for the industry. Thus, turning to experienced consulting agencies like vTech Solution, Inc. seems the best alternative for them as these agencies are backed with deep market knowledge and expertise.

vTech Solution, Inc. offers a wide range of staffing services and provides end-to-end support in areas such as clinical and healthcare staffing. Click here for more details.

How can agencies help –

Hospitals and health systems are continuously fighting with a bulk of problems due to the COVID-19 pandemic in the nation. Some of them include fewer tests, slow results, scarcity of ventilators, and doctors’ kits which are still uncorrected and are contributing to worsening the situation. Amidst all these, hospitals lack sufficient workforce.

• Better recruitment of staff: Agencies can source permanent, full-time employees who are recruited after putting through extensive screening and several interviews.
• Reaches more people: While HR departments can go for job offerings on their website or even in field periodicals, they typically have a limited scope and not as many resources as a staffing service provider can give. When it comes to healthcare staffing resources, agencies can provide better, from drawing from a larger pool of candidates to having a more in-depth knowledge of the industry.
• The best of both worlds: While hiring, departments at hospitals or clinics may know what makes a good worker for treating patients, they may not fully understand the skills required for qualified healthcare IT professionals. By applying their knowledge of both information technologies and the specific needs of the health care industry, IT staffing agencies can provide the best candidates for the job.

• Managing other tasks:When it comes to finalizing hires then a healthcare staffing agency may assist in negotiating the salary, paperwork, and scheduling. These things can reduce the burden on HR departments of healthcare agencies.

Emerging need for healthcare IT professionals

With an increase in technology, hospitals and other medical providers require IT recruitment for being in the race of keeping up with the technology. Unfortunately, the hospitals usually stick to the forgone idea and prefer their existing medical staff to take up the IT tasks. This puts an even greater strain on the workplace as they expect the unskilled information technology workers to do the job like the skilled ones.

Today’s healthcare sector has a high demand for IT professionals to match with the technology. Many clinics and hospitals offer patient portals to allow for making appointments and emailing doctors. Also, maintaining patient privacy is a critical factor as all the information is electronically stored inside servers. This can be executed only through healthcare sector specific IT staffing. 

IT experts have the capability to set up and maintain these systems while ensuring they have a user-friendly interface. They also keep the systems secure by standing in between hackers and sensitive data. Without them, health organizations’ data is at potential risk. This shows how terribly do the healthcare centers need dedicated IT staff to keep their systems working.

vTech Solution, Inc. has massive experience in matching professionals with career opportunities at some of the world’s leading Healthcare, Life Sciences, and Pharma businesses. Our experts have immediate knowledge of your business and your needs. vTech Solution, Inc. delivers provides the dedicated workforce with specific skills and knowledge you need.