Tangoe, the leading technology expense and asset management solution for over two decades, today announced the release of its third annual “IT Trends and Savings Recommendations” report after analyzing $34B in IT spending and reflecting on hundreds of digital transformation and cost-reduction projects with clients across every industry.
The report is designed to help finance, IT, and procurement leaders leverage Tangoe’s expertise and database of spending intelligence to make smarter purchasing decisions in the year ahead. With an emphasis on cloud technologies and the impact AI innovation has on cloud expenditures, the report summarizes pricing trends while highlighting common overprovisioning mistakes and the services draining clients’ IT budgets more than necessary.
Investments in AI technologies and new GenAI models can trigger rising cloud expenditures at a time when cloud costs are already problematic – an issue Tangoe executives describe as a side effect that can threaten the long-term financial sustainability of AI innovation when left unmanaged.
“With cloud inflation concerns and Generative AI becoming a major area of investment for 2024, business leaders everywhere are thinking about how they can be smarter investors and better stewards of their IT budgets. Tangoe has unique insights to share from optimizing $34 billion in IT spending for our clients – the largest portfolio in the technology expense management industry,” said James Parker, CEO, Tangoe. “We’re guiding companies in knowing how to make their innovation dollars go the distance.”