Sanjay Sharma’s Weblog

October 16, 2008

Financial Crisis 2008- IT strategy change- from “Make Money” to “SAVE Money”

Filed under: General — Tags: , , — indoos @ 8:07 am

The focus for the last many years in product based IT has been to find ways to MAKE MONEY. This meant creating solutions so that financial institutions and entrepreneurs could make more and more money.

However, now with Money Making strategy apparently in doldrums as being proven by the current financial crisis, the need for the hour is finding ways to Save whatever can be saved.

— THE BOAT IS SINKING – SALVAGE WHATEVER IS POSSIBLE–

What this translates into is that IT sales team should be selling “Save Money” initiatives instead of the traditional solutions. The “Save Money” trend is already one of the main patterns pushing development projects in big organizations like GE, Citibank as well as SMEs.

 

So what should product based IT sell-

  • Tools to reduce internal non-production costs – optimize cost on materials/resources 
  • Tools to reduce production costs
  • Tools to reduce IT costs- software as well as hardware
  • More …
  • And last but not the least important – tools for SHRINK:) (psychiatrist/psychologist)- they are certainly going to get good clientele.

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