Why IT Spending is Bucking Current Economic Trends

With inflation proving to be a significant concern for businesses at the moment, reaching highs that it hasn’t in decades, there is a distinct need for businesses to get as much value as they can out of the investments they make.

Let’s discuss a few technologies that offer this more desirable cost/benefit ratio so you can consider them for your own use.

Could Technology Investment Reverse Inflation?

According to Morgan Stanley, potentially!

The financial services provider recently released their list of (as they call them) Deflation Enablers—companies that are trying to cut their customers’ costs despite inflation or product scarcity. Included on this list were a few automation platforms (Appian, Salesforce, ServiceNow, and UiPath) as well as supply chain efficiency software (C3.ai, Palantir, and Snowflake) as well as some other technology providers, like a little company known as Microsoft.

The idea is that by investing in solutions and services provided by Deflation Enablers—specifically, those that cut costs while boosting productivity—a business puts itself in a position to succeed, in spite of whatever economic challenges the world at large is facing.

Of course, that’s all well and good for these major companies… But what can the average business in Chicagoland do?  

What Many Companies Are Doing to Fight Inflation

There are a variety of ways that businesses can do (and are exploring) to save money and actively use their resources more efficiently. One big one that came about in response to the last few years’ increase in remote operations: office downsizing.

Businesses of all sizes, from small to enterprise, are actively considering how they can scale back their real estate and reinvest those dollars elsewhere—incidentally, many choosing to invest in IT and sales.

This is no accident, either. Remember, quite a few of Morgan Stanley’s Deflation Enablers were IT providers that focused on automating processes. Automation is inherently a cost-saving endeavor, as it effectively doubles your productivity for each employee it frees from a menial task.

Reach out to Preferred to find out more about automation, and the other ways we can assist you in making your dollar go further. A few examples that come to mind are our inclusive managed services and our remote monitoring and management services.

Give us a call at 708-781-7110 to learn more.